Cartoon – Buying Happiness
Tag: wealth
The wealthy taking up housing meant for the poor
Though New York City’s waiting list for subsidized housing stands at over 300,000, the agency still has only nominal ability to evict a tenant who once qualified but subsequently became wealthier, and the latest “beneficiary” of those rules, according to a November WPIX-TV report, is a household that reported earning $497,911 in a recent year. Initially, one housing authority official […]
Read moreInequality: Why the poor are getting poorer
Why is America a nation of growing inequality? The yawning economic and cultural gap between the well-to-do and the working class—now wider than at almost any point in our history—has academics and pundits searching for explanations. Now, a new Harvard study provides an illuminating—and “horrifying”—insight into what’s going on. The affluent and the working classes, the study found, are raising […]
Read moreThe World’s Richest Individuals
According to a report from Oxfam the world’s eight richest people are worth as much as the 3.6 poorest people in the world. The total of their worth is $426 billion compared to 50% of the world’s poorest at $409 billion. The billionaires included in this list are Bill Gates ($75 billion), Warren Buffett ($61 billion), and Mark Zuckerberg ($45 […]
Read moreCartoon – In Another Universe
Inequality in Wealth
What’s most important—and troubling— is the decades-long, systemic expansion of the economic distance between the richest of the rich and the poorest of the poor, and the long, backward slide for the majority of those in-between.
Read moreWhen The Wealthy Go Camping
A New York City hotel is offering wealthy guests a chance to go “glamping”—glamorous camping—so they can experience the outdoors with four-star amenities. Guests at New York’s AKA Central Park can spend $2,000 a night to sleep on a queen bed on the terrace of the hotel’s penthouse. “It’s basically being able to sleep under the stars in a luxury […]
Read moreHousehold Economics: Racial Distribution
Many experts consider the wealth gap to be more pernicious than the income gap, as it perpetuates from generation to generation and has a powerful effect on economic security and mobility. Young black people are much less likely than young white people to receive a large sum from their parents or other relatives to pay for college, start a business […]
Read moreCartoon – The 1% Have It All
Owned Stock
Percentage of U.S. stock owned by the wealthiest 10 percent of Americans: 89
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