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Wealth, Income, and Power

Wealth, Income, and Power
by G. William Domhoff This document presents details on the wealth and income distributions in the United States, and explains how we use these two distributions as power indicators. The most striking numbers on income inequality will come last, showing the dramatic change in the ratio of the average CEO's paycheck to that of the average factory worker over the past 40 years. First, though, some definitions. We also need to distinguish wealth from income. This document focuses on the "Top 1%" as a whole because that's been the traditional cut-off point for "the top" in academic studies, and because it's easy for us to keep in mind that we are talking about one in a hundred. There's also some general information available on median income and percentage of people below the poverty line in 2010. One final general point before turning to the specifics. Exactly how rich are the Top 1%? Table 1: Income, net worth, and financial worth in the U.S. by percentile, The Wealth Distribution References Related:  les ultras-riches et moins de 1%Wealth

Le revenu annuel des 100 personnes les plus riches suffirait à éradiquer quatre fois la pauvreté “Nous ne pouvons plus prétendre que la création de richesses pour une poignée de privilégiés bénéficiera inévitablement au plus grand nombre – trop souvent, c’est le contraire qui est vrai.” Jeremy Hobbs Directeur général, Oxfam International Publié le : 19 Janvier 2013 Selon Oxfam, les dirigeants doivent se fixer pour objectif d’au moins ramener les inégalités au niveau de 1990 L’explosion de la richesse extrême et des revenus colossaux exacerbe les inégalités et entrave la capacité du monde à combattre la pauvreté, comme l’explique aujourd’hui Oxfam dans un rapport publié en vue du Forum économique mondial de Davos, qui se tiendra la semaine prochaine. Ces vingt dernières années, les revenus du pourcent le plus riche de la population ont augmenté de 60 %, une évolution que la crise financière contribue à intensifier, et non à freiner. Selon les estimations, les personnes appartenant au pourcent le plus riche émettent jusqu’à 10 000 fois plus de CO2 que le citoyen américain moyen.

EU and IMF 'to monitor Italian reforms' - Europe Italy, under fierce pressure from financial markets, has agreed to be put under surveillance by the International Monetary Fund (IMF) and the EU as part of a plan to restore market trust in the eurozone's third-largest economy, senior EU sources have said. The agreement was reached after late-night talks on Thursday with eurozone leaders on the sidelines of a G20 summit in Cannes, France. Silvio Berlusconi, the Italian prime minister, agreed to have the IMF check every three months the way pension and labour market reforms are implemented and privatisations are carried out, the sources said. "We need to make sure there is credibility with Italy's targets - that it is going to meet them," one EU source told the Reuters news agency on condition of anonymity. "We decided to have the IMF involved on the monitoring, using their own methodology, and the Italians say they can live with that. 'Singled out'

How many people pay the estate tax? The 2001 tax act, The Economic Growth and Tax Relief Reconciliation Act (EGTRRA), raised the estate tax exemption to $1 million in 2002 and to $3.5 million in a series of steps through 2009, sharply reducing the number of estates that have to pay estate taxes. For 2010 only, the estate tax was eliminated. Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 put in place an estate tax with a $5 million exemption and 35% rate for 2011 and 2012 only. If Congress doesn’t act, the tax will revert to its pre-EGTRRA status in 2013 with a $1 million exemp-tion, leading to a large increase in the number of estates owing the tax. Roughly 33,500 estates filed returns in 2009 but fewer than half—only 14,700—of those estates had to pay any estate tax at all. Estate tax liability totaled $20.6 billion.

Le triomphe des riches On s'en doutait un peu, mais la confirmation est officielle : en France, les inégalités se creusent. Mais elles ne se creusent pas par le bas, par l'accroissement de la part des pauvres dans la population. Elles se creusent par le haut, les riches devenant sans cesse plus riches. Dans le bas de la pyramide sociale, la proportion des personnes vivant au-dessous du seuil de pauvreté est passée de 14,5 % à 13 % entre 1996 et 2008 (dernière année connue). Certes, le chômage n'est pas le seul déterminant de la pauvreté. Proportionnellement moins de pauvres en 2002 qu'en 1996, et, depuis, une quasi-stabilité, liée au chômage qui ne recule plus, aux retraits du marché du travail et à la proportion croissante de personnes isolées et de familles monoparentales. Dans le haut de la pyramide, c'est un paysage bien différent que l'on peut découvrir. On se gardera de faire ici le moindre commentaire politique. Denis Clerc Commentaires Commenter cet article

Goldman Sachs elevator gossip tweets – inside job or wind-up? | Joris Luyendijk #1: "If a girl doesn't respond to my texts immediately, I lose interest." #2: "I don't even have time to meet girls." #1: "People that post photos of a 1st class seat or an empty bottle of Petrus on Facebook should die." And: #1: "Getting laid off from Goldman is like being traded by the Yankees. You'll probably still make millions, but it's just not the same." Meet the Twitter account GS Elevator Gossip. If anything it's a good laugh. It's not exactly PC, witness this one: #1: "The only reason I have a home phone is so I can find my cell phone." #2: "Our maid does that." Or: Skirt #1: "It really hurts my feelings when an ugly guy hits on me." And some could be office banter anywhere: #1: "Every disaster movie has a black guy as President to save the day." #2: "And now when we get a real disaster, look what happens." Or: #1: "It's sweet how my wife thinks the silent treatment is a punishment for me." So could GS Elevator Gossip be authentic? #2: "Pathetic. Or: #1: "Alarm at 7.00.

Ten Facts You Should Know About the Federal Estate Tax | Center on Budget and Policy Priorities The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs. Only the wealthiest estates pay the tax because it is levied only on the portion of an estate’s value that exceeds a specified exemption level — $5.43 million per person (effectively $10.86 million per married couple) in 2015.[2] The estate tax thus limits, to a modest degree, the large tax breaks that extremely wealthy households get on their wealth as it grows, which can otherwise go untaxed. The estate tax has been an important source of federal revenue for nearly a century, yet a number of misconceptions continue to surround it. (While this paper focuses on the federal estate tax, taxes on inherited wealth are also a traditional and common revenue source for states.) 1. Thus, the estate tax is best characterized as a tax on very large inheritances by a small group of wealthy heirs; repeal would amount to a massive windfall for those heirs. 2. 3.

Selon une étude de l’EPFZ, 147 multinationales contrôlent l’économie mondiale. Interview du professeur Mauro Baranzini 147 multinationales contrôleraient pratiquement l'économie globale. C’est du moins la conclusion d’une étude suisse unique en son genre. Pour mettre un frein aux dérives de la concentration du pouvoir, de nouvelles institutions supranationales sont nécessaires, plaide l'économiste Mauro Baranzini. Les chercheurs de l'Ecole polytechnique fédérale de Zurich (EPFZ) ont disséqué le réseau des connexions reliant les sociétés actives au niveau planétaire. Ces théoriciens spécialisés en systèmes complexes estiment qu'un groupe extrêmement restreint de sociétés contrôle environ 40% du chiffre d'affaires de plus de 40'000 entreprises actives sur les cinq continents. swissinfo.ch: Cette concentration du pouvoir est-elle négative en soi ou peut-elle au contraire avoir des côtés positifs ? Mauro Baranzini: Il y a certainement des avantages. swissinfo.ch: Lesquels ? M. swissinfo.ch: UBS et Credit Suisse font partie de cette «super entité» identifiée par l'étude de l'EPFZ. M. M. M. M. M.

Market Report - Nov. 4, 2011 Click chart for more markets data. NEW YORK (CNNMoney) -- U.S. stocks stayed under pressure with all major U.S. indexes falling about 2% for the week. Investors remained wary over whether Greece could default on its debt and what that might mean for the global financial system. Greece once again dominated as the world awaits a vote on its prime minister's future, scheduled for Friday night. Future leadership of Greece is likely to decide whether the nation will take the necessary steps to avoid a default on its sovereign debt. "We still don't have any clue about what the Greek government actually looks like," said Mark McCormick, a currency strategist at Brown Brothers Harriman. And investors don't like uncertainty. After another week of wild swings, the Dow Jones industrial average (DJI) ended the week down 2%. Stocks rebounded from sharper losses during the day by Friday's close. Bank stocks were the among the day's biggest laggards. World markets: European stocks closed lower.

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