paxmachina:

Enjoy your evening.

A segment of the wealth of a few dozen people would provide the resources to abolish poverty globally.

paxmachina:

Enjoy your evening.

A segment of the wealth of a few dozen people would provide the resources to abolish poverty globally.

(Source: facebook.com, via other-stuff)

@2 weeks ago with 1296 notes
#wealth #poverty #economics 

partytilfajr:

A truly poor society is one that solely equates wealth with success. 

(via myheadisweak)

@4 months ago with 377 notes
#wealth #economics 

Some 95% of 2009-2012 Income Gains Went to Wealthiest 1% 

(Source: azspot)

@7 months ago with 33 notes
#wealth #inequality #economics 

"Of the world’s 100 largest economies, half are corporations. Walmart is bigger than Greece; Philip Morris is larger than Chile; Chrysler and Nestle are about the same size as Pakistan and Hungary, respectively. The six largest corporations in the world have revenues greater than the 30 countries containing half of the world’s population."

Karen Brodkin, global capitalism: what’s race got to do with it? (via some-velvet-morning)

(via qsalms)

@9 months ago with 3786 notes
#wealth #corporations #economics #inequality 

Ten Numbers the Rich Would Like Fudged | Alternet 

questionall:

1. Only THREE PERCENT of the very rich are entrepreneurs.

According to both Marketwatch and economist Edward Wolff, over 90 percent of the assets owned by millionaires are held in a combination of low-risk investments (bonds and cash), personal business accounts, the stock market, and real estate. Only 3.6 percent of taxpayers in the top .1% were classified as entrepreneurs based on 2004 tax returns. A 2009 Kauffman Foundation study found that the great majority of entrepreneurs come from middle-class backgrounds, with less than 1 percent of all entrepreneurs coming from very rich or very poor backgrounds.

2. Only FOUR OUT OF 150 countries have more wealth inequality than us.

In a world listing compiled by a reputable research team (which nevertheless prompted double-checking), the U.S. has greater wealth inequality than every measured country in the world except for Namibia, Zimbabwe, Denmark, and Switzerland.

3. An amount equal to ONE-HALF the GDP is held untaxed overseas by rich Americans.

The Tax Justice Network estimated that between $21 and $32 trillion is hidden offshore, untaxed. With Americans making up 40% of the world’s Ultra High Net Worth Individuals, that’s $8 to $12 trillion in U.S. money stashed in far-off hiding places.

Based on a historical stock market return of 6%, up to $750 billion of income is lost to the U.S. every year, resulting in a tax loss of about $260 billion.

4. Corporations stopped paying HALF OF THEIR TAXES after the recession.

After paying an average of 22.5% from 1987 to 2008, corporations have paid an annual rate of 10% since. This represents a sudden $250 billion annual loss in taxes.

U.S. corporations have shown a pattern of tax reluctance for more than 50 years, despite building their businesses with American research and infrastructure. They’ve passed the responsibility on to their workers. For every dollar of workers’ payroll tax paid in the 1950s, corporations paid three dollars. Now it’s 22 cents.

5. Just TEN Americans made a total of FIFTY BILLION DOLLARS in one year.

That’s enough to pay the salaries of over a million nurses or teachers or emergency responders.

That’s enough, according to 2008 estimates by the Food and Agriculture Organization and the UN’s World Food Program, to feed the 870 million people in the world who are lacking sufficient food.

For the free-market advocates who say “they’ve earned it”: Point #1 above makes it clear how the wealthy make their money.

6. Tax deductions for the rich could pay off 100 PERCENT of the deficit.

Another stat that required a double-check. Based on research by the Tax Policy Center, tax deferrals and deductions and other forms of tax expenditures (tax subsidies from special deductions, exemptions, exclusions, credits, capital gains, and loopholes), which largely benefit the rich, are worth about 7.4% of the GDP, or about $1.1 trillion.

Other sources have estimated that about two-thirds of the annual $850 billion in tax expenditures goes to the top quintile of taxpayers.

7. The average single black or Hispanic woman has about $100 IN NET WORTH.

The Insight Center for Community Economic Development reported that median wealth for black and Hispanic women is a little over $100. That’s much less than one percent of the median wealth for single white women ($41,500).

Other studies confirm the racially-charged economic inequality in our country. For every dollar of NON-HOME wealth owned by white families, people of color have only one cent.

8. Elderly and disabled food stamp recipients get $4.30 A DAY FOR FOOD.

Temporary Assistance for Needy Families (TANF) has dropped significantly over the past 15 years, serving only about a quarter of the families in poverty, and paying less than $400 per month for a family of three for housing and other necessities. Ninety percent of the available benefits go to the elderly, the disabled, or working households.

Food stamp recipients get $4.30 a day.

9. Young adults have lost TWO-THIRDS OF THEIR NET WORTH since 1984.

21- to 35-year-olds: Your median net worth has dropped 68% since 1984. It’s now less than $4,000.

That $4,000 has to pay for student loans that average $27,200. Or, if you’re still in school, for $12,700 in credit card debt.

With an unemployment rate for 16- to 24-year-olds of almost 50%, two out of every five recent college graduates are living with their parents. But your favorite company may be hiring. Apple, which makes a profit of $420,000 per employee, can pay you about $12 per hour.

10. The American public paid about FOUR TRILLION DOLLARS to bail out the banks.

That’s about the same amount of money made by America’s richest 10% in one year. But we all paid for the bailout. And because of it, we lost the opportunity for jobs, mortgage relief, and educational funding.

Bonus for the super-rich: A QUADRILLION DOLLARS in securities trading nets ZERO sales tax revenue for the U.S.

The world derivatives market is estimated to be worth over a quadrillion dollars (a thousand trillion). At least $200 trillion of that is in the United States. In 2011 the Chicago Mercantile Exchange reported a trading volume of over $1 quadrillion on 3.4 billion annual contracts.

A quadrillion dollars. A sales tax of ONE-TENTH OF A PENNY on a quadrillion dollars could pay off the deficit. But the total sales tax was ZERO.

It’s not surprising that the very rich would like to fudge the numbers, as they have the nation.

(via resmc)

@1 year ago with 5644 notes
#wealth #inequality #economics 
mapsontheweb:

Cartogram of the World’s Billionaires , Forbes

This illustrates how perverse the notions of unavoidable poverty and austerity are.

mapsontheweb:

Cartogram of the World’s Billionaires , Forbes

This illustrates how perverse the notions of unavoidable poverty and austerity are.

(Source: mapsontheweb, via thenationmagazine)

@1 year ago with 82 notes
#wealth #economics #inequality 
azspot:


M. Wuerker
@1 year ago with 136 notes
#wealth #minimum wage 
@1 year ago with 261 notes
#poverty #wealth #capitalism 
theatlantic:

The World’s 85 Richest People Are As Wealthy as the Poorest 3 Billion

The report that everybody’s talking about this morning is Oxfam’s opus on global inequality, which leads with an eye-popping statistic: The richest 85 people own more wealth than the bottom half of the world’s population.
Yes, that equation works out to: 85 > 3,000,000,000.
Before we dig into the document, a programming note about wealth inequality. Wealth isn’t income. Salary is income. But investments—stocks, houses, or equity in a business—build wealth. Wealth comes from the money you don’t immediately spend. Since poor people spend more of their income immediately, and rich people save/invest more of their income immediately, it’s predictable that wealth inequality be much worse than income inequality.
Read more. [Image: Reuters]

theatlantic:

The World’s 85 Richest People Are As Wealthy as the Poorest 3 Billion

The report that everybody’s talking about this morning is Oxfam’s opus on global inequality, which leads with an eye-popping statistic: The richest 85 people own more wealth than the bottom half of the world’s population.

Yes, that equation works out to: 85 > 3,000,000,000.

Before we dig into the document, a programming note about wealth inequality. Wealth isn’t income. Salary is income. But investments—stocks, houses, or equity in a business—build wealth. Wealth comes from the money you don’t immediately spend. Since poor people spend more of their income immediately, and rich people save/invest more of their income immediately, it’s predictable that wealth inequality be much worse than income inequality.

Read more. [Image: Reuters]

@2 months ago with 1047 notes
#wealth #inequality 
azspot:


Truthout
@4 months ago with 238 notes
#mcdonalds #corporations #wealth #poverty 

pragtastic:

platonic-cuddles:

catbountry:

Muffy is the GOP.

I’m such a richist

hang muffy.

Check your privilege, richists.

/r/RichRightsActivism

(Source: outofcontextarthur, via fyeahsocialism)

@8 months ago with 131991 notes
#wealth 
azspot:


Tom Toles
@9 months ago with 37 notes
#wealth 

The CEO of Walmart makes $16,826 an hour. 

stfuconservatives:

thisisjamesj:

Employees make around $13,650 a year.

But remember: we can’t pay employees any more because it would hurt business. But we can’t pay the CEO any less because then they won’t work hard enough, and it would hurt business.

(Source: seamusiteverwas, via other-stuff)

@1 year ago with 2363 notes
#walmart #corporations #wealth #inequality 
redflagflying:

“Of all the preposterous assumptions of humanity over humanity, nothing exceeds most of the criticisms made on the habits of the poor by the well-housed, well-warmed, and well-fed.” — Herman Melville

redflagflying:

“Of all the preposterous assumptions of humanity over humanity, nothing exceeds most of the criticisms made on the habits of the poor by the well-housed, well-warmed, and well-fed.” — Herman Melville

@1 year ago with 37 notes
#herman melville #wealth #capitalism #poverty 

"Corporate America has generated its own royalty. What is different about 2012 from five or ten or fifty years ago is that people are now cognizant of it. The most interesting right-wing movement in the United States is the nascent Tea Party. While I disagree with them vehemently (as a left-libertarian, and also as one who favors science over emotional argument) I will give them credit for this: at their intellectual core (and, yes, there is one) they are aggressively anti-corporate. Post-2008, Americans get that the Corporate System is not a meritocracy, not rational, and not even real capitalism. It’s designed to provide the best of two systems (socialism and capitalism) for a well-connected social and increasingly hereditary elite, regardless of merit, and the worst of both systems for everyone else. For themselves, they create an economic arrangement in which they can derive enormous personal benefit from random variables that exist in the economy, but at the same time build a jealously guard a private social-welfare system that ensures they stay rich, well-positioned, and well-connected even if they fail. For the rest, they provide mostly downside, displacement, and discomfort. A perfect metaphor for this is air travel. Well-connected people get discounted or free air travel, special lounges in the airport, and access to comfortable private aviation. The rest of us get Soviet-style service and capitalistic price volatility: the worst from both systems."

@1 year ago with 43 notes
#corporations #wealth #capitalism 
paxmachina:

Enjoy your evening.

A segment of the wealth of a few dozen people would provide the resources to abolish poverty globally.
2 weeks ago
#wealth #poverty #economics 
theatlantic:

The World’s 85 Richest People Are As Wealthy as the Poorest 3 Billion

The report that everybody’s talking about this morning is Oxfam’s opus on global inequality, which leads with an eye-popping statistic: The richest 85 people own more wealth than the bottom half of the world’s population.
Yes, that equation works out to: 85 > 3,000,000,000.
Before we dig into the document, a programming note about wealth inequality. Wealth isn’t income. Salary is income. But investments—stocks, houses, or equity in a business—build wealth. Wealth comes from the money you don’t immediately spend. Since poor people spend more of their income immediately, and rich people save/invest more of their income immediately, it’s predictable that wealth inequality be much worse than income inequality.
Read more. [Image: Reuters]
2 months ago
#wealth #inequality 

partytilfajr:

A truly poor society is one that solely equates wealth with success. 

(via myheadisweak)

4 months ago
#wealth #economics 
azspot:


Truthout
4 months ago
#mcdonalds #corporations #wealth #poverty 
Some 95% of 2009-2012 Income Gains Went to Wealthiest 1%→

(Source: azspot)

7 months ago
#wealth #inequality #economics 
8 months ago
#wealth 
"Of the world’s 100 largest economies, half are corporations. Walmart is bigger than Greece; Philip Morris is larger than Chile; Chrysler and Nestle are about the same size as Pakistan and Hungary, respectively. The six largest corporations in the world have revenues greater than the 30 countries containing half of the world’s population."
Karen Brodkin, global capitalism: what’s race got to do with it? (via some-velvet-morning)

(via qsalms)

9 months ago
#wealth #corporations #economics #inequality 
azspot:


Tom Toles
9 months ago
#wealth 
Ten Numbers the Rich Would Like Fudged | Alternet→

questionall:

1. Only THREE PERCENT of the very rich are entrepreneurs.

According to both Marketwatch and economist Edward Wolff, over 90 percent of the assets owned by millionaires are held in a combination of low-risk investments (bonds and cash), personal business accounts, the stock market, and real estate. Only 3.6 percent of taxpayers in the top .1% were classified as entrepreneurs based on 2004 tax returns. A 2009 Kauffman Foundation study found that the great majority of entrepreneurs come from middle-class backgrounds, with less than 1 percent of all entrepreneurs coming from very rich or very poor backgrounds.

2. Only FOUR OUT OF 150 countries have more wealth inequality than us.

In a world listing compiled by a reputable research team (which nevertheless prompted double-checking), the U.S. has greater wealth inequality than every measured country in the world except for Namibia, Zimbabwe, Denmark, and Switzerland.

3. An amount equal to ONE-HALF the GDP is held untaxed overseas by rich Americans.

The Tax Justice Network estimated that between $21 and $32 trillion is hidden offshore, untaxed. With Americans making up 40% of the world’s Ultra High Net Worth Individuals, that’s $8 to $12 trillion in U.S. money stashed in far-off hiding places.

Based on a historical stock market return of 6%, up to $750 billion of income is lost to the U.S. every year, resulting in a tax loss of about $260 billion.

4. Corporations stopped paying HALF OF THEIR TAXES after the recession.

After paying an average of 22.5% from 1987 to 2008, corporations have paid an annual rate of 10% since. This represents a sudden $250 billion annual loss in taxes.

U.S. corporations have shown a pattern of tax reluctance for more than 50 years, despite building their businesses with American research and infrastructure. They’ve passed the responsibility on to their workers. For every dollar of workers’ payroll tax paid in the 1950s, corporations paid three dollars. Now it’s 22 cents.

5. Just TEN Americans made a total of FIFTY BILLION DOLLARS in one year.

That’s enough to pay the salaries of over a million nurses or teachers or emergency responders.

That’s enough, according to 2008 estimates by the Food and Agriculture Organization and the UN’s World Food Program, to feed the 870 million people in the world who are lacking sufficient food.

For the free-market advocates who say “they’ve earned it”: Point #1 above makes it clear how the wealthy make their money.

6. Tax deductions for the rich could pay off 100 PERCENT of the deficit.

Another stat that required a double-check. Based on research by the Tax Policy Center, tax deferrals and deductions and other forms of tax expenditures (tax subsidies from special deductions, exemptions, exclusions, credits, capital gains, and loopholes), which largely benefit the rich, are worth about 7.4% of the GDP, or about $1.1 trillion.

Other sources have estimated that about two-thirds of the annual $850 billion in tax expenditures goes to the top quintile of taxpayers.

7. The average single black or Hispanic woman has about $100 IN NET WORTH.

The Insight Center for Community Economic Development reported that median wealth for black and Hispanic women is a little over $100. That’s much less than one percent of the median wealth for single white women ($41,500).

Other studies confirm the racially-charged economic inequality in our country. For every dollar of NON-HOME wealth owned by white families, people of color have only one cent.

8. Elderly and disabled food stamp recipients get $4.30 A DAY FOR FOOD.

Temporary Assistance for Needy Families (TANF) has dropped significantly over the past 15 years, serving only about a quarter of the families in poverty, and paying less than $400 per month for a family of three for housing and other necessities. Ninety percent of the available benefits go to the elderly, the disabled, or working households.

Food stamp recipients get $4.30 a day.

9. Young adults have lost TWO-THIRDS OF THEIR NET WORTH since 1984.

21- to 35-year-olds: Your median net worth has dropped 68% since 1984. It’s now less than $4,000.

That $4,000 has to pay for student loans that average $27,200. Or, if you’re still in school, for $12,700 in credit card debt.

With an unemployment rate for 16- to 24-year-olds of almost 50%, two out of every five recent college graduates are living with their parents. But your favorite company may be hiring. Apple, which makes a profit of $420,000 per employee, can pay you about $12 per hour.

10. The American public paid about FOUR TRILLION DOLLARS to bail out the banks.

That’s about the same amount of money made by America’s richest 10% in one year. But we all paid for the bailout. And because of it, we lost the opportunity for jobs, mortgage relief, and educational funding.

Bonus for the super-rich: A QUADRILLION DOLLARS in securities trading nets ZERO sales tax revenue for the U.S.

The world derivatives market is estimated to be worth over a quadrillion dollars (a thousand trillion). At least $200 trillion of that is in the United States. In 2011 the Chicago Mercantile Exchange reported a trading volume of over $1 quadrillion on 3.4 billion annual contracts.

A quadrillion dollars. A sales tax of ONE-TENTH OF A PENNY on a quadrillion dollars could pay off the deficit. But the total sales tax was ZERO.

It’s not surprising that the very rich would like to fudge the numbers, as they have the nation.

(via resmc)

1 year ago
#wealth #inequality #economics 
The CEO of Walmart makes $16,826 an hour.→

stfuconservatives:

thisisjamesj:

Employees make around $13,650 a year.

But remember: we can’t pay employees any more because it would hurt business. But we can’t pay the CEO any less because then they won’t work hard enough, and it would hurt business.

(Source: seamusiteverwas, via other-stuff)

1 year ago
#walmart #corporations #wealth #inequality 
mapsontheweb:

Cartogram of the World’s Billionaires , Forbes

This illustrates how perverse the notions of unavoidable poverty and austerity are.
1 year ago
#wealth #economics #inequality 
redflagflying:

“Of all the preposterous assumptions of humanity over humanity, nothing exceeds most of the criticisms made on the habits of the poor by the well-housed, well-warmed, and well-fed.” — Herman Melville
1 year ago
#herman melville #wealth #capitalism #poverty 
azspot:


M. Wuerker
1 year ago
#wealth #minimum wage 
"Corporate America has generated its own royalty. What is different about 2012 from five or ten or fifty years ago is that people are now cognizant of it. The most interesting right-wing movement in the United States is the nascent Tea Party. While I disagree with them vehemently (as a left-libertarian, and also as one who favors science over emotional argument) I will give them credit for this: at their intellectual core (and, yes, there is one) they are aggressively anti-corporate. Post-2008, Americans get that the Corporate System is not a meritocracy, not rational, and not even real capitalism. It’s designed to provide the best of two systems (socialism and capitalism) for a well-connected social and increasingly hereditary elite, regardless of merit, and the worst of both systems for everyone else. For themselves, they create an economic arrangement in which they can derive enormous personal benefit from random variables that exist in the economy, but at the same time build a jealously guard a private social-welfare system that ensures they stay rich, well-positioned, and well-connected even if they fail. For the rest, they provide mostly downside, displacement, and discomfort. A perfect metaphor for this is air travel. Well-connected people get discounted or free air travel, special lounges in the airport, and access to comfortable private aviation. The rest of us get Soviet-style service and capitalistic price volatility: the worst from both systems."
1 year ago
#corporations #wealth #capitalism 
1 year ago
#poverty #wealth #capitalism