Robber Baron Saturday

Golden Goosed

Golden Goosed

The Forbes 400 and the Rest of Us,” just the twenty individuals at the top of the pile—a group that could fit into a Gulfstream G650 luxury jet, according to the study’s authors—now control more wealth than the bottom half of the population. That’s 152 million people living in 57 million households.

And there’s a stark racial divide at the top. The 100 richest households own more assets than the entire African-American community (there are just two black people on the Forbes 400 list, one of whom is Oprah Winfrey). And just 182 individuals on the Forbes list have more assets than America’s entire Hispanic population.

But Chuck Collins, director of IPS’s Program on Inequality and the Common Good and a co-author of the report, tells The Nation that their study likely underestimates the scope of the problem. “Our wealth data is a tip of the iceberg,” he says. “So much wealth among the über-rich is hidden, either in offshore tax havens or in these loophole trusts where money is shuffled around into private corporate accounts or between different family members, and it disappears from taxation or any sort of oversight or accountability. So there’s a huge amount of escaped wealth that isn’t even factored into these statistics.”

@ THE NATION

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About Den

Always in search of interesting things to post. Armed with knowledge and dangerous with the ladies.
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9 Responses to Robber Baron Saturday

  1. Den says:

    Rolling in the bucks, I wonder what that is like. Always been middle to poor off and on through the years, bought and sold stuff, busted my bones wrenching, never swung with the Stock Market crowd. Got close a couple of times with two mortgage free houses that I built but a divorce took care of that and a lot of other things.

    I wish I had more but is it really worth the price I would pay?
    Maybe, never got there as it is a pay-to-play world.

    Some days you get the elevator,
    some days you get the shaft.

    Like

  2. º¿carol says:

    Where DOES the time go? How is it I didn’t make it here yesterday. *sigh*

    Went over to Pete’s new house today with some pulled pork and buns. They were working on the place, Sara and old friend Jackie were painting Nick’s bedroom. Pete was installing a Pergola floor in their bedroom. They need the two bedrooms finished so they can move beds in and therefore move into the house.

    Other than warming up the food, I was there to watch others work. I did feel a tad guilty at not picking up a paint brush, but alas, let the younger folks do that.

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  3. º¿carol says:

    I’m going to a concert tomorrow. At the Wharton Center on the Michigan State University campus. Someone named Morgan James, a singer. It’s at 7:00 at night. Pete is going to drive out here and pick me up and deliver me back home. Yay! I won’t have to drive in the dark.

    I watched a couple You Tubes of her, she’s good and she’s a belter. Guess we get to meet her after the show, too.

    Like

  4. David B. Benson says:

    Just 22 minutes of stick walking to the Tokyo Seoul for Chirashi. Faster than walking without the sticks.

    Like

  5. Den says:

    I’m off to spear some fine Italian cuisine with my fork.

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  6. David B. Benson says:

    Day 7: 152+22=174 minutes for this week.

    Like

  7. David B. Benson says:

    Robber Barons are busy every day of the week.

    Like

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