Bloomberg: “The richest people on earth became $1 trillion richer in 2017, more than four times last year’s gain, as stock markets shrugged off economic, social and political divisions to reach record highs. … The 23 percent increase on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people, compares with an almost 20 percent increase for both the MSCI World Index and Standard & Poor’s 500 Index.”
The hit on the rich will be nominal,
The effects on the lower brackets, abominable.
With a guy from Goldman Sachs
Rejiggering the income tax,
It’s no wonder Trump says it’ll be “phenomenal.”
Number of white men who own as much wealth as the bottom half of the world’s population,“Inequality is so stark that a small group of men own the same wealth as half the world, say campaigners ahead of the high-profile World Economic Forum in Davos,” Sky News reports. “According to research by Oxfam, the eight billionaires, including Bill Gates who tops the list, have riches equivalent to the wealth of the world’s 3.6 billion poorest people.”
Having just dodged the first major hurricane to hit Florida in more than a decade, Miami, it would appear, has something else to celebrate. Or not.
According to Bloomberg, Miami is now the most unequal city in the United States, having leapfrogged five ranks in just a year to reach the top. Yay! We have greater income disparity than anybody!
Bloomberg ordered large cities – those with populations of at least 250,000 – based on the Gini coefficient. The index measures the distribution of household income using 2015 data from the U.S. Census Bureau’s American Community Survey. The ratio ranges from zero, which reflects absolute equality, to one, complete inequality. Miami took the top spot in 2016 with a coefficient of .58, followed by Atlanta and New Orleans.