Top 1% 'own half global wealth' - Credit Suisse report. Wealth Inequality in America. Wealth Inequality in America. Poormansmedia : #Toronto #CFRB has been floating... Poormansmedia : #Reaganomics: Stimulate growth... Banned TED Talk: Nick Hanauer "Rich people don't create jobs". Rich getting richer: Richest 400 Americans’ net worth jumps 13% The net worth of the richest Americans grew by 13 per cent in the past year to $1.7-trillion (U.S.), Forbes magazine said on Wednesday, and a familiar cast of characters once again populated the top of the magazine’s annual list of the U.S. uber-elite, including Bill Gates, Warren Buffett, Larry Ellison and the Koch brothers.
The average net worth of the 400 wealthiest Americans rose to a record $4.2-billion, the magazine said. Collectively, this group’s net worth is the equivalent of one-eighth of the entire U.S. economy, which stood at $13.56-trillion in real terms according to the latest government data. But the 13 per cent growth in the wealth of the richest Americans far outpaced that of the economy overall, helping widen the chasm between rich and poor. Bill Gates, the chairman of Microsoft Corp., topped the list for the 19th year in a row with $66-billion, up $7-billion from a year earlier.
The ranks of the top five were unchanged from a year earlier. The top 10: 1. 2. 3. 4. 4. 6. 7. Wealth doesn't trickle down – it just floods offshore, new research reveals. The world's super-rich have taken advantage of lax tax rules to siphon off at least $21 trillion, and possibly as much as $32tn, from their home countries and hide it abroad – a sum larger than the entire American economy.
James Henry, a former chief economist at consultancy McKinsey and an expert on tax havens, has conducted groundbreaking new research for the Tax Justice Network campaign group – sifting through data from the Bank for International Settlements (BIS), the International Monetary Fund (IMF) and private sector analysts to construct an alarming picture that shows capital flooding out of countries across the world and disappearing into the cracks in the financial system.
Comedian Jimmy Carr became the public face of tax-dodging in the UK earlier this year when it emerged that he had made use of a Cayman Islands-based trust to slash his income tax bill. "These estimates reveal a staggering failure," says John Christensen of the Tax Justice Network. Trickle Down Tales. Economic Policy - The Reagan Years. Lessons in Reaganomics "He knows less about the budget than any president in my lifetime.
He can't even carry on a conversation about the budget. It's an absolute and utter disgrace. " --House Speaker Tip O'Neill, after a meeting with Reagan, November 23, 1981 "For the last 30 years he's been in a dream world.... "Reagan, who more than any president in history railed against government benefits and spending, set the standard for all members of his administration. "At his seventh press conference, President Reagan...responds to a question about the 17% black unemployment rate by pointing out that 'in this time of great unemployment,' Sunday's paper had '24 full pages of...employers looking for employees,' though most of the jobs available--computer operator, for example, or cellular immunologist--require special training, for which his administration has cut funds by over 30%.
" "The Agriculture Department [under Reagan proposes] cutting the size of school lunches.... "Mr.