#income-inequality

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Tiny Homes Face the Ax in Hong Kong, Leaving Many Families Worried

Liu Lanhua's cramped living space in Hong Kong highlights the extreme income inequality and impending policy changes affecting subdivided homes.

Revealed: the growing income gap between Europe's biggest and smallest farms

The income gap between large and small farms in Europe has exponentially increased, adversely impacting small farms.

These Cities Rank as the Least Favorable for Black Americans

Socioeconomic disparities persist between Black and White Americans, impacting various quality of life measures across different regions.
#economic-impact

Lack of reform to child benefit bad news for single parents, says Martin Lewis

The child benefit system remains based on individual income, which experts argue is unfair to single-earner families.

The top 5% will benefit from Trump's tax plans while the rest of America pays more, a new analysis says

Trump's tax changes primarily benefit the wealthy while disadvantaging lower-income workers, raising concerns about economic equity.

MIT professor hoses down predictions AI will boost GDP

AI may not significantly boost productivity and could widen the income gap between capital owners and workers.

Lack of reform to child benefit bad news for single parents, says Martin Lewis

The child benefit system remains based on individual income, which experts argue is unfair to single-earner families.

The top 5% will benefit from Trump's tax plans while the rest of America pays more, a new analysis says

Trump's tax changes primarily benefit the wealthy while disadvantaging lower-income workers, raising concerns about economic equity.

MIT professor hoses down predictions AI will boost GDP

AI may not significantly boost productivity and could widen the income gap between capital owners and workers.
moreeconomic-impact
#economic-growth

Despite risks, Vinod Khosla is optimistic about AI | TechCrunch

Khosla believes AI will greatly reduce the need for human labor, leading to economic abundance.

This Is How Many Millionaires Are Currently Walking the Earth

The number of millionaires globally has increased by 300% over 20 years, with growing income inequality as a pressing issue.

Anant Ambani's glitzy wedding highlights India's missing middle class'

India's middle class is much poorer than China's despite economic growth.

Despite risks, Vinod Khosla is optimistic about AI | TechCrunch

Khosla believes AI will greatly reduce the need for human labor, leading to economic abundance.

This Is How Many Millionaires Are Currently Walking the Earth

The number of millionaires globally has increased by 300% over 20 years, with growing income inequality as a pressing issue.

Anant Ambani's glitzy wedding highlights India's missing middle class'

India's middle class is much poorer than China's despite economic growth.
moreeconomic-growth

People Making $150,000 Feel Poor

Many Americans live paycheck to paycheck regardless of income level, including a significant portion of high earners.
The perception of living paycheck to paycheck is stable across age and income groups, reflecting a broader financial strain.
#california

Letters from Our Readers

The narrative highlights the importance of unions and social support systems for blue-collar families amidst rising income inequality.
from The Mercury News
1 month ago

1 million fewer Californians live in poverty. Is that cut enough?

California's poverty rate is declining, but at a slow pace compared to national averages.
from Kqed
8 months ago

California's Middle Class Declines as Low and High Incomes Surge, Study Shows | KQED

California is losing middle-income earners, with a 7% decrease in this demographic between 2000 and 2019.
High housing costs are a primary driver for middle-income residents leaving the state.

Letters from Our Readers

The narrative highlights the importance of unions and social support systems for blue-collar families amidst rising income inequality.

1 million fewer Californians live in poverty. Is that cut enough?

California's poverty rate is declining, but at a slow pace compared to national averages.

California's Middle Class Declines as Low and High Incomes Surge, Study Shows | KQED

California is losing middle-income earners, with a 7% decrease in this demographic between 2000 and 2019.
High housing costs are a primary driver for middle-income residents leaving the state.
morecalifornia
#corporate-profits
from Fortune
1 week ago
Business

'We are essentially in a new Gilded Age': As workers get laid off, CEOs and shareholders gobble up hundreds of billions in profits

Shareholders and CEOs are reaping record profits while employee compensation lags, highlighting income inequality in the post-pandemic economy.

Report: Companies With Lowest Worker Wages Spent Half a Trillion on Stock Buybacks in Last 5 Years

Low-wage companies in the S&P 500 spent $522 billion on stock buybacks from 2019 to 2023, prioritizing shareholders over employee wages.

'We are essentially in a new Gilded Age': As workers get laid off, CEOs and shareholders gobble up hundreds of billions in profits

Shareholders and CEOs are reaping record profits while employee compensation lags, highlighting income inequality in the post-pandemic economy.

Report: Companies With Lowest Worker Wages Spent Half a Trillion on Stock Buybacks in Last 5 Years

Low-wage companies in the S&P 500 spent $522 billion on stock buybacks from 2019 to 2023, prioritizing shareholders over employee wages.
morecorporate-profits

Poll: A Few Wealthy Loudmouths Want to Keep Mandatory Parking - Streetsblog New York City

The preference for parking diminishes with increasing income; wealthier New Yorkers are less supportive of ending mandatory parking requirements compared to lower-income groups.
#tipped-workers

Arizona and Massachusetts voters to decide on minimum wage ballot measures

The uncertainty in tipped workers' incomes creates ongoing financial stress, particularly for those in the service industry.

Arizona and Massachusetts will decide if the minimum wage should be lower for workers who get tipped

Tipped workers like Mel Nichols face income uncertainty due to varying daily tips and subminimum wage laws, reflecting broader issues in labor rights.
States are voting on issues regarding subminimum wages, influencing the earnings and security of tipped workers across the country.

Arizona and Massachusetts voters to decide on minimum wage ballot measures

The uncertainty in tipped workers' incomes creates ongoing financial stress, particularly for those in the service industry.

Arizona and Massachusetts will decide if the minimum wage should be lower for workers who get tipped

Tipped workers like Mel Nichols face income uncertainty due to varying daily tips and subminimum wage laws, reflecting broader issues in labor rights.
States are voting on issues regarding subminimum wages, influencing the earnings and security of tipped workers across the country.
moretipped-workers
#discrimination

Silicon Valley Latinas face the greatest wage gap disparities - San Jose Spotlight

Latinas in Silicon Valley face the largest pay gap in California, earning only 33 cents for every dollar earned by a white male.

Opinion | Full Employment Is Good for Society

The economic divide between Black and white Americans has persisted for the past half-century, with little progress on narrowing the gap.
Reduced discrimination was offset by an increase in overall income inequality, which hindered the relative progress of Black Americans.

Silicon Valley Latinas face the greatest wage gap disparities - San Jose Spotlight

Latinas in Silicon Valley face the largest pay gap in California, earning only 33 cents for every dollar earned by a white male.

Opinion | Full Employment Is Good for Society

The economic divide between Black and white Americans has persisted for the past half-century, with little progress on narrowing the gap.
Reduced discrimination was offset by an increase in overall income inequality, which hindered the relative progress of Black Americans.
morediscrimination

Ikea shelves, books by politicians, even a whole celeriac: in defence of middle-class fly-tipping | Zoe Williams

Austerity has led to significant differences in how individuals experience state interactions based on income, especially regarding benefits and local governance.

The U.S. gender wage gap is growing. Here's why

The COVID-19 pandemic has led to a widening gender wage gap for U.S. working women, impacting their earnings in 2023 for the first time in 20 years.
#tax-cuts

Politics in Sweden: The opposition failed to land a killer blow on tax cuts for the rich

The government's tax-cutting budget disproportionately benefits the wealthy, sparking significant criticism from the opposition over financial priorities.

Tax cuts will plunge thousands into poverty, warn thinktanks ahead of spring Budget

Thousands of families may be pushed into poverty with planned national insurance tax cuts
Think tanks caution against proposed national insurance tax cuts due to disproportionate impact on poorer households.

Politics in Sweden: The opposition failed to land a killer blow on tax cuts for the rich

The government's tax-cutting budget disproportionately benefits the wealthy, sparking significant criticism from the opposition over financial priorities.

Tax cuts will plunge thousands into poverty, warn thinktanks ahead of spring Budget

Thousands of families may be pushed into poverty with planned national insurance tax cuts
Think tanks caution against proposed national insurance tax cuts due to disproportionate impact on poorer households.
moretax-cuts
#nobel-prize
from Nature
3 weeks ago

Why are some countries so rich? Economics Nobel awarded for study of inequality

Colonial history and institutions significantly affect current economic disparities between countries.
from Fortune
3 weeks ago

Nobel economics prize goes to trio for research into reasons why some countries succeed and others fail

The Nobel Prize in Economics highlights the significant role of societal institutions in determining national prosperity.

Why are some countries so rich? Economics Nobel awarded for study of inequality

Colonial history and institutions significantly affect current economic disparities between countries.

Nobel economics prize goes to trio for research into reasons why some countries succeed and others fail

The Nobel Prize in Economics highlights the significant role of societal institutions in determining national prosperity.
morenobel-prize
#middle-class

Take This Test to See If You're Rich, Poor, or Middle-Class for Your State

The American middle class has shrunk from 61% in 1971 to 50% due to globalization and technological advances.

Harris's economic plan helps, but doesn't get to the root of middle-class discontent

President Biden's economic strategies face challenges amid persistent income inequality and middle-class struggles.

This Southern State Has the Poorest Middle Class

The middle class in America is becoming less financially secure due to rising inflation and stagnant wages.

The Gap Between Rich and Poor Has Never Been Wider In These Towns

The middle class is shrinking, significantly affecting cities' economies and demographics.

Take This Test to See If You're Rich, Poor, or Middle-Class for Your State

The American middle class has shrunk from 61% in 1971 to 50% due to globalization and technological advances.

Harris's economic plan helps, but doesn't get to the root of middle-class discontent

President Biden's economic strategies face challenges amid persistent income inequality and middle-class struggles.

This Southern State Has the Poorest Middle Class

The middle class in America is becoming less financially secure due to rising inflation and stagnant wages.

The Gap Between Rich and Poor Has Never Been Wider In These Towns

The middle class is shrinking, significantly affecting cities' economies and demographics.
moremiddle-class
#economic-policy

Income inequality in Canada rises to the highest level ever recorded: Statistics Canada | CBC News

Income inequality in Canada has reached the highest recorded level, driven by a widening gap in disposable income.

Trump's Plans Could Increase U.S. Debt While Raising Costs for Most Americans

Trump's economic plans could add $15 trillion to debt and increase costs for most Americans.
from www.nytimes.com
1 month ago

Antonio Delfim Netto, Brazilian Economic Czar, Dies at 96

Antonio Delfim Netto's legacy is marked by both the economic miracle of Brazil and the subsequent crises, highlighting the contradictions in his policies.
from www.aljazeera.com
1 month ago

What housing plans do US presidential candidates Trump and Harris offer?

US home prices have drastically outpaced wage growth, impacting affordability.
Kamala Harris proposes a $25,000 down payment assistance plan for first-time homebuyers.

Neoliberal Policies Associated With Reaganomics Actually Started With Carter

Neoliberal policies have significantly increased income inequality, rooted in earlier administrations rather than solely attributed to Thatcher and Reagan.

Opinion | Preparing for the Second China Shock

Biden's administration is not a free-trade purist and is imposing tariffs to protect the U.S. economy against potential threats like a surge of Chinese imports.
from www.cbc.ca
3 weeks ago

Income inequality in Canada rises to the highest level ever recorded: Statistics Canada | CBC News

Income inequality in Canada has reached the highest recorded level, driven by a widening gap in disposable income.

Trump's Plans Could Increase U.S. Debt While Raising Costs for Most Americans

Trump's economic plans could add $15 trillion to debt and increase costs for most Americans.

Antonio Delfim Netto, Brazilian Economic Czar, Dies at 96

Antonio Delfim Netto's legacy is marked by both the economic miracle of Brazil and the subsequent crises, highlighting the contradictions in his policies.

What housing plans do US presidential candidates Trump and Harris offer?

US home prices have drastically outpaced wage growth, impacting affordability.
Kamala Harris proposes a $25,000 down payment assistance plan for first-time homebuyers.

Neoliberal Policies Associated With Reaganomics Actually Started With Carter

Neoliberal policies have significantly increased income inequality, rooted in earlier administrations rather than solely attributed to Thatcher and Reagan.

Opinion | Preparing for the Second China Shock

Biden's administration is not a free-trade purist and is imposing tariffs to protect the U.S. economy against potential threats like a surge of Chinese imports.
moreeconomic-policy
#cost-of-living

Budget 2025 missed chance to lift thousands of children out of poverty, says ESRI

Inflation pressures persist, risking increased poverty among low-income and fixed-income households due to reduced cost-of-living measures.

You need to make $135,000 to rent in New York

The required income to rent comfortably in New York has risen sharply to over $135,000, highlighting a significant affordability issue.

Budget 2025 missed chance to lift thousands of children out of poverty, says ESRI

Inflation pressures persist, risking increased poverty among low-income and fixed-income households due to reduced cost-of-living measures.

You need to make $135,000 to rent in New York

The required income to rent comfortably in New York has risen sharply to over $135,000, highlighting a significant affordability issue.
morecost-of-living

SF Amazon Workers at Bayview Warehouse Vote to Unionize, Ball Now In Amazon's Court

Over 100 Amazon workers at the DCK6 warehouse have voted to unionize with the Teamsters, demanding better recognition and benefits.

Son of MLK helps start new "Black-Brown coalition"

A renewed national Black-Latino coalition is being formed to address income inequality and voting rights as articulated by Martin Luther King III.
The coalition aims to increase civic participation and address hate crimes.
#tax-policy

Congressional Dems Call Out Companies That Pay Execs More Than They Pay in Taxes

High-profile U.S. corporations including Tesla are paying executives more than federal income taxes, attributed to tax policies from 2017 and proposed future cuts.

US Billionaires Have Doubled Their Wealth Since 2017 Trump Tax Overhaul

Billionaires in the U.S. now control 1 in every 25 dollars of American wealth.
Since 2017, U.S. billionaire wealth has doubled following the tax overhaul by Republicans under Donald Trump.

Congressional Dems Call Out Companies That Pay Execs More Than They Pay in Taxes

High-profile U.S. corporations including Tesla are paying executives more than federal income taxes, attributed to tax policies from 2017 and proposed future cuts.

US Billionaires Have Doubled Their Wealth Since 2017 Trump Tax Overhaul

Billionaires in the U.S. now control 1 in every 25 dollars of American wealth.
Since 2017, U.S. billionaire wealth has doubled following the tax overhaul by Republicans under Donald Trump.
moretax-policy
#housing-affordability

The Most and Least Affordable Housing Markets in Georgia

Homeownership is increasingly unaffordable due to rising prices and high mortgage rates, particularly impacting lower-income households.

The Most and Least Affordable Housing Markets in Texas

Home prices surged nearly 38% since the pandemic, complicating homeownership and affordability for many Americans.

Half of renters live somewhere they can't afford

Nearly half of US renters exceed the 30% threshold of income on housing, highlighting an ongoing affordability crisis.

The Most and Least Affordable Housing Markets in Pennsylvania

The COVID-19 pandemic has dramatically increased home prices, exacerbating the housing affordability crisis in the U.S. over the past few years.

Rents in Austin are down. But many renters still struggle to find housing they can afford. - Austin Monitor

Rent burden leads to financial stress even with salary increase.

US rents climbed 1.5 times faster than wages in last four years

Rents have risen faster than wages in major U.S. cities, causing housing affordability issues.

The Most and Least Affordable Housing Markets in Georgia

Homeownership is increasingly unaffordable due to rising prices and high mortgage rates, particularly impacting lower-income households.

The Most and Least Affordable Housing Markets in Texas

Home prices surged nearly 38% since the pandemic, complicating homeownership and affordability for many Americans.

Half of renters live somewhere they can't afford

Nearly half of US renters exceed the 30% threshold of income on housing, highlighting an ongoing affordability crisis.

The Most and Least Affordable Housing Markets in Pennsylvania

The COVID-19 pandemic has dramatically increased home prices, exacerbating the housing affordability crisis in the U.S. over the past few years.

Rents in Austin are down. But many renters still struggle to find housing they can afford. - Austin Monitor

Rent burden leads to financial stress even with salary increase.

US rents climbed 1.5 times faster than wages in last four years

Rents have risen faster than wages in major U.S. cities, causing housing affordability issues.
morehousing-affordability
#wealth-tax

Bill Gates and Bernie Sanders met to discuss taxing the super rich

Bill Gates met with Bernie Sanders to discuss income inequality and tax reforms despite their ideological differences.
from Fortune
2 months ago

Billionaire Bill Ackman has an idea for getting the ultra-wealthy to finally pay a fair share of taxes

Bill Ackman proposes a tax on borrowing against stock for the ultrawealthy to address income inequality without stifling entrepreneurship.
from www.theguardian.com
6 months ago

Why are billionaires scared of Brazil's plan to hit them with a global tax? Because it makes perfect sense | Larry Elliott

Implementing a wealth tax on billionaires, like Jeff Bezos and Elon Musk, is proposed to address global financial challenges and reduce inequality.

Bill Gates and Bernie Sanders met to discuss taxing the super rich

Bill Gates met with Bernie Sanders to discuss income inequality and tax reforms despite their ideological differences.

Billionaire Bill Ackman has an idea for getting the ultra-wealthy to finally pay a fair share of taxes

Bill Ackman proposes a tax on borrowing against stock for the ultrawealthy to address income inequality without stifling entrepreneurship.

Why are billionaires scared of Brazil's plan to hit them with a global tax? Because it makes perfect sense | Larry Elliott

Implementing a wealth tax on billionaires, like Jeff Bezos and Elon Musk, is proposed to address global financial challenges and reduce inequality.
morewealth-tax
#education

Online dating lets us look for similar education levels, adding to income inequality

Online dating contributes to increased income inequality in the US by influencing partner selection based on education and income similarities.

People in This Town Make $496,000 More Than the Average Joe

The wealth gap between the richest towns and the average household income in the U.S. is substantial.

Online dating lets us look for similar education levels, adding to income inequality

Online dating contributes to increased income inequality in the US by influencing partner selection based on education and income similarities.

People in This Town Make $496,000 More Than the Average Joe

The wealth gap between the richest towns and the average household income in the U.S. is substantial.
moreeducation

Philanthropists need allies in government

U.S. politics is increasingly divisive, hindering social equality and honest policy discussions.

Opinion: Does Gov. Hochul Even Know What a 'Hard-Working' New Yorker Is? - Streetsblog New York City

Governor Hochul's pause on congestion pricing may not reflect the needs of the majority of New York commuters.

Reading the news, you'd think unions are about to ruin Britain. It's because we're finally making progress under Labour | Mick Lynch

Unions are actively working to restore workers' bargaining power and tackle income inequality, contrary to negative media portrayals.

Joe Rogan Blasts Oprah, Michelle Obama Talking Income Inequality at DNC: Lady, You're Rich as F**k!'

Joe Rogan criticized Oprah Winfrey and Michelle Obama for discussing income inequality while being part of the wealthy class they critique.

Half of all households in the country can't afford a normal starter home

Starter homes are increasingly unaffordable for many Americans, with income thresholds and home prices rising beyond reach for most households.
#ceo-compensation

The companies with the most low-wage workers are spending billions on stock buybacks instead of raises

Corporations are prioritizing stock buybacks over employee compensation, leading to increased income inequality.

Starbucks' new CEO is set to make up to $113 million - the average total pay for a barista is $49,000

Brian Niccol's compensation as CEO of Starbucks will vastly outpace the earnings of average baristas, highlighting income inequality within the company.

CEO compensation at some of the largest companies was a whopping 268 times as much as their average worker last year

CEOs earn significantly more than workers, exacerbating income inequality.

The companies with the most low-wage workers are spending billions on stock buybacks instead of raises

Corporations are prioritizing stock buybacks over employee compensation, leading to increased income inequality.

Starbucks' new CEO is set to make up to $113 million - the average total pay for a barista is $49,000

Brian Niccol's compensation as CEO of Starbucks will vastly outpace the earnings of average baristas, highlighting income inequality within the company.

CEO compensation at some of the largest companies was a whopping 268 times as much as their average worker last year

CEOs earn significantly more than workers, exacerbating income inequality.
moreceo-compensation

Once Thriving, This Poor County Reflects the Struggle of Rural America

Inflation is undermining income gains for Americans, particularly affecting low-income households who spend a larger share of their earnings on essentials.

Students across income levels worry about affordability

Students across income levels believe that tuition affordability significantly impacts their academic success.

Why Trump's and Harris' proposals to stop taxing tips would be hard to do

Eliminating federal taxes on workers' tips can be complex and costly, potentially benefiting higher-paid workers more than low-income workers.

Democrats should run on a progressive economic agenda. Americans are ready | Bernie Sanders

Corporate domination leads to neglect of working-class needs in American politics.

Economic mobility up for Black Americans born poor, study finds - Harvard Gazette

Economic prospects improving for Black Americans born poor, while earnings falling for white Americans from low-income families.

Black and white income gap shrank between Gen X and millennials in the U.S.

The income gap between white and Black young adults narrowed for millennials compared to Generation X, driven by increased income mobility for poor Black children.

Grindr's CEO says AI "synthetic employees" will lead to even more competition for the humans workers - LGBTQ Nation

George Arison predicts 'synthetic employees' will replace tech workers, calling for A+ employees with AI companions.

Marginal students reap more benefits from STEM programs | Cornell Chronicle

Enrolling in selective college STEM programs benefits academically marginal students with increased future earnings, even if they are less likely to graduate.

Presupuesto estatal incluye credito tributario por hijos, pero defensores advierten oportunidad perdida para combatir pobreza

La fórmula para calcular los pagos suplementarios del Empire State Child Credit excluye a familias de bajos ingresos de obtener el crédito máximo.

We deserve more': US workers' share of the pie dwindles

Low wages at Target stores impact employees' financial stability despite wage increase.

Opinion | Can Biden Revive the Fortunes of American Workers?

The recent Volkswagen plant employee vote in Chattanooga symbolizes a significant victory for the labor movement and the potential for a return to a more egalitarian society.

Small-business owners brace for uncertainty as $20 hourly fast-food wage takes effect

Justin Foronda, a second-generation entrepreneur, faces challenges with rising minimum wage impacting small businesses in Los Angeles.

San Jose adopts landmark policy to stop displacement - San Jose Spotlight

Landmark policy to preserve housing for at-risk residents in San Jose.
Tenant preference based on geography for affordable housing projects.

India's Income Inequality Is Now Worse Than Under British Rule, New Report Says

Rising income inequality in India due to billionaire growth
Comparison of income distribution between colonial and modern times

Number of children in poverty hits 20-year high, damning figures show

Child poverty in the UK is at a record high with 4.3 million affected, surpassing previous levels.
Calls for urgent government action to reduce child poverty and address income inequality.

Bernie Sanders Proposes Reducing Americans' Workweek to 32 Hours

Americans working long hours for less pay despite advances in technology and productivity.
Senator Bernie Sanders proposing legislation to reduce the standard workweek from 40 hours to 32 without reducing pay.
#consumer-spending

Parents turn to AI tablets after China's tutor crackdown

China's economy is experiencing a slowdown due to multiple factors, including the Xi Jinping administration's push for 'Common Prosperity' and ongoing regulatory crackdowns.
The Chinese government's crackdown on tech giants and its efforts to reduce income inequality are leading to a shift in investor sentiment and a decrease in consumer spending in China.

Analysis | The Collapse in the US Saving Rate Is Misleading

The collapse in the personal US saving rate to near a record low has fueled a narrative that consumers are clearly strapped heading into 2023.This is worrisome because consumer spending accounts for about two thirds of the economy.Heck, one widely shared analysis by Federal Reserve analysts estimated that by this past June, households had run through half the savings buffer built up during the pandemic.

Parents turn to AI tablets after China's tutor crackdown

China's economy is experiencing a slowdown due to multiple factors, including the Xi Jinping administration's push for 'Common Prosperity' and ongoing regulatory crackdowns.
The Chinese government's crackdown on tech giants and its efforts to reduce income inequality are leading to a shift in investor sentiment and a decrease in consumer spending in China.

Analysis | The Collapse in the US Saving Rate Is Misleading

The collapse in the personal US saving rate to near a record low has fueled a narrative that consumers are clearly strapped heading into 2023.This is worrisome because consumer spending accounts for about two thirds of the economy.Heck, one widely shared analysis by Federal Reserve analysts estimated that by this past June, households had run through half the savings buffer built up during the pandemic.
moreconsumer-spending

Bernie Sanders: "The International Billionaire Class Is Making Out Like Bandits"

Lack of serious debate on important issues in Congress
Criticism of US foreign policy consensus

Sanders Unveils Bill to Tax Corporations Whose CEOs Are Paid Over 50 Times Median Worker Pay

The Tax Excessive CEO Pay Act aims to address the wealth gap by increasing corporate tax rates for companies with high CEO-to-worker pay ratios.
The bill would require companies to make their CEO-to-worker pay ratios public and implement measures to ensure compliance.
#artificial-intelligence

AI will affect 60% of US jobs and worsen income inequality, IMF warns

Artificial intelligence could replace up to 60% of jobs in advanced economies
Age and adaptability play a significant role in job displacement

Artificial Intelligence will affect almost 40% jobs globally: IMF report

Artificial intelligence will affect almost 40% of global jobs
AI's income inequality effect will largely depend on how much the technology complements high earners

AI will affect 60% of US jobs and worsen income inequality, IMF warns

Artificial intelligence could replace up to 60% of jobs in advanced economies
Age and adaptability play a significant role in job displacement

Artificial Intelligence will affect almost 40% jobs globally: IMF report

Artificial intelligence will affect almost 40% of global jobs
AI's income inequality effect will largely depend on how much the technology complements high earners
moreartificial-intelligence

It will be the end of democracy': Bernie Sanders on what happens if Trump wins and how to stop him

Bernie Sanders is known for his casual appearance and gruff demeanor.
Sanders has been a driving force in changing the political conversation around income inequality and capitalism in the US.

In 41 States, Richest 1 Percent Pay Lowest Tax Rate of Any Group

In 34 states, families with the lowest incomes pay the highest tax rate.
Wealthy Americans benefit the most from regressive tax codes.

Most States Have Tax Codes That Are Rigged To Benefit The Wealthy: Report

The top 1% in four out of every five states pay a lower tax rate than middle-class and low-income residents.
The majority of states have tax systems that disproportionately burden lower-income families, according to the report by the Institute on Taxation and Economic Policy.

Two Brooklyn Nonprofits Receive $250K to Address Wealth Divide

Two Brooklyn-based nonprofits, The Laundromat Project and COOP Careers, have been awarded $250,000 grants from MetLife Foundation's Accelerating Commitment to Equity Innovation Fund.
The Laundromat Project will use the grant to promote cultural preservation and generational wealth building, while COOP Careers will create a social capital building program at Brooklyn College.

Labour won't turn on spending taps, says Starmer

Sir Keir Starmer warns of 'huge constraints' on public spending if Labour wins next general election
Think tank report highlights UK's lower average household income compared to other countries like France and Germany

Britain has been in a 15-year economic slump. This is our route out of it | Torsten Bell

Britain is experiencing a phase of relative decline characterized by poor productivity growth and stagnant wages.
The UK is Europe's most unequal large economy, with poorer families 27% worse off than their French and German counterparts.
#people

Living wage increase to benefit around 1.7 million workers

Around 1.7 million workers will get a significant pay boost when the national minimum wage (NLW) increases from Saturday.A 92p rise to 10.42 an hour for workers aged 23 and over is equivalent to a near 10% increase, the Resolution Foundation said.The think tank said the increase is the biggest annual cash rise in the 24-year history of the minimum wage and one of the largest annual percentage rises.

How healthy is your county compared to the rest of Massachusetts?

Some good news for Bay Staters - the University of Wisconsin's 2023 rankings of the healthiest counties in the U.S. show that Massachusetts residents on average have significantly better health outcomes than a majority of thecountry.That said, the rankings also show that people in some Massachusetts counties are significantly healthier than those in others.

Billionaire SF Standard Financier Gets Guff for SF-Bashing (and SF Chronicle-Bashing) In NYT Op-Ed

A Sunday New York Times op-ed from the money-man behind the SF Standard reads like a formulaic Mad Libs SF-trashing hit piece, but his attacks on the rival publication raise questions about his real motivations.Well-known billionaire SF venture capitalist and SF Standard financier Michael Moritz appears up to something.

Analysis | Fight Poverty, Not Income Inequality

Bloomberg Best of the Year 2021: A cleaner works in an upscale retail area in Beijing, China, on Wednesday, Aug. 25, 2021.(Photographer: Bloomberg/Bloomberg)Wealth and income inequality have recently gone down in the US and other parts of the West, and the decline has been going on for the better part of the last decade.

Living wage increase to benefit around 1.7 million workers

Around 1.7 million workers will get a significant pay boost when the national minimum wage (NLW) increases from Saturday.A 92p rise to 10.42 an hour for workers aged 23 and over is equivalent to a near 10% increase, the Resolution Foundation said.The think tank said the increase is the biggest annual cash rise in the 24-year history of the minimum wage and one of the largest annual percentage rises.

How healthy is your county compared to the rest of Massachusetts?

Some good news for Bay Staters - the University of Wisconsin's 2023 rankings of the healthiest counties in the U.S. show that Massachusetts residents on average have significantly better health outcomes than a majority of thecountry.That said, the rankings also show that people in some Massachusetts counties are significantly healthier than those in others.

Billionaire SF Standard Financier Gets Guff for SF-Bashing (and SF Chronicle-Bashing) In NYT Op-Ed

A Sunday New York Times op-ed from the money-man behind the SF Standard reads like a formulaic Mad Libs SF-trashing hit piece, but his attacks on the rival publication raise questions about his real motivations.Well-known billionaire SF venture capitalist and SF Standard financier Michael Moritz appears up to something.

Analysis | Fight Poverty, Not Income Inequality

Bloomberg Best of the Year 2021: A cleaner works in an upscale retail area in Beijing, China, on Wednesday, Aug. 25, 2021.(Photographer: Bloomberg/Bloomberg)Wealth and income inequality have recently gone down in the US and other parts of the West, and the decline has been going on for the better part of the last decade.
morepeople

The Guardian view on wealth taxes: UK needs one on millionaires and billionaires | Editorial

During the pandemic, the rich saw their ranks swell as stock markets soared even as low-income workers returned to work and blue collar jobs were hollowed out.The upshot is that for the first time in three decades, extreme poverty and extreme wealth across the world have gone up at the same time.As the annual meeting of the World Economic Forum opens in Davos, Oxfam has shown that the gaps are yawning wider: the four richest Britons now have more wealth than 20 million compatriots.
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