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 […]
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Share of the world’s wealth that will be held by the richest 1% across the globe by 2016, according to a report from the antipoverty charity Oxfam: 50%
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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 […]
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SINCE 2006 THE INCOME GAP BETWEEN RICH AND POOR HAS GROWN \H THE 15 LARGEST U.S. CITIES
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A notice appeared in the paper recently with the names and faces of eight men who have a combined wealth of $426 billion. According to Oxfam International, in 2015 this would have equaled the amount of wealth held by half the world’s population, the poorest half. Oxfam International is a confederation of charitable organizations in 90 countries seeking to stop the injustices that […]
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“It is an unfortunate human failing that a full pocketbook often groans more loudly than an empty stomach.” – Franklin D. Roosevelt
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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 […]
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