Truthout
Wealth Gap
Millionaires’ Effective Tax Rate Has Been Cut by Half Since Mid-20th Century
Between 1945 and 1980, households with a $1 million income or more paid effective tax rates as high as 60 percent.
US Billionaires Have Doubled Their Wealth Since 2017 Trump Tax Overhaul
Billionaires now control 1 out of every 25 dollars of American wealth.
Democrats Seek to End Major Billionaire Tax Avoidance Scheme in New Senate Bill
The bill takes aim at a practice known as “buy, borrow, die,” in which billionaires borrow extensively off their assets.
“Killers of the Flower Moon” Shows Wealth-Building Doesn’t End Racial Injustice
The history of the Osage people reminds us that access to wealth does not bring racial justice to communities of color.
Fed Reserve Rate Hikes May Set Stage for Financial Crises in Global South
Monetary policy to control inflation in the U.S. has significant impacts on poor and indebted nations.
NAACP: Black Voters Will Be Disillusioned If Biden Fails to Act on Student Debt
Biden risks a legacy of failing on “campaign promises but succeed[ing] in widening the racial wealth gap,” NAACP said.
For Every $1 Gained by a Bottom 90 Percenter Since 2020, a Billionaire Got $1.7M
A report finds the top 1 percent seized twice the new wealth as the rest of the world in the past two years.
As Over a Million Have Died of COVID, US Billionaires Have Gained $1.7 Trillion
The $1.71 trillion wealth gain alone could pay off nearly the entirety of student loans owed by the public.
Not Just Billionaires — the Average Rich Person’s Pay Has Risen During COVID
Wages grew much faster for top earners than they did for everyone else in 2020, reflecting a 40-year trend.
Report Finds Min. Wage Earners Can’t Afford One-Bedroom Rental in Most of US
The National Low Income Housing Coalition found a worker must make $24.90 an hour to afford an average two-bedroom.