Number of China’s Ultra-Wealthy Dwindles in 2019
The number of ultra-wealthy individuals dipped in China this year, a report said Thursday, as the government seeks to rebalance the economy and tackle high levels of toxic debt.
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FEMA Rewards Wealthy Counties Over Poorer Ones
FEMA buys flood-prone homes more often in wealthy, populous counties than in poor, rural areas, even though lower-income rural areas may be more likely to flood frequently, a new study finds.
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Census Shows US Income Inequality Growing
The gap between the haves and have-nots in the United States grew last year to its highest level in more than 50 years of tracking income inequality, according to Census Bureau figures.
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Sanders Proposes ‘Extreme Wealth’ Tax to Fund Medicare for All
Democratic presidential hopeful Senator Bernie Sanders released a new plan Tuesday to tax the “extreme wealth” of the top 0.1% of U.S. households, which he says would help pay for his flagship Medicare for All health care proposal.
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Billionaire Says Epstein Swiped ‘Vast Sums’ From Him
The retail billionaire behind Victoria’s Secret has accused financier Jeffrey Epstein of misappropriating “vast sums” of his fortune while managing his personal finances more than a decade ago.
Read moreBefore Epstein Appeal, Circuit Bashes ‘Two-Tiered Bail System’
The prospects of Jeffrey Epstein awaiting a sex-trafficking trial from his $77 million Upper East Side mansion were always remote. Thanks to Second Circuit ruling Thursday, however, Epstein’s odds at an appellate reversal dropped to virtually nil.
Read moreMansion Off-Limits to Jeffrey Epstein Ahead of Trial
Between the decoy passport, his status as a convicted sex offender and untold assets of over half a billion dollars, Jeffrey Epstein had been an unlikely candidate for bail pending trial on sex-trafficking charges.
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Washington Appeals Court Finds Seattle Income Tax Unconstitutional
Seattle’s income tax on wealthy residents is unconstitutional, the Washington Court of Appeals held, but left the door open for the city to impose property taxes based on income if they are uniform across tax brackets.
Read moreFinland Tops Global Happiness Index for 2nd Consecutive Year
Finland has topped an index of the happiest nations for the second consecutive year, with researchers saying the small Nordic country has succeeded in generating a happiness recipe not simply dependent on economic wealth.
Read morePoll Finds Bipartisan Support for Wealth Tax
A new poll shows that a majority of Americans, Democrat and Republican alike, support a wealth tax like the one proposed by 2020 presidential candidate and Sen. Elizabeth Warren, the latest to follow other polls that show similar support for such a measure.
Read moreNorway: Businessman’s Wife Abducted; Ransom Demanded
Norway’s police said Wednesday the missing wife of one of Norway’s richest men has been abducted, and that her suspected kidnappers have demanded a ransom.
Read moreUK’s Boris Johnson Reprimanded for Failing to Report Income
A British parliamentary committee reprimanded former Foreign Secretary Boris Johnson on Thursday for failing to report income within time limits set by Parliament.
Read more‘Millionaire Tax’ Ballot Question Struck Down in MA
By a 5-2 vote Monday, the highest court in Massachusetts killed a ballot question that could have levied a 4 percent tax on millionaire residents.
Read moreWealthy Dad Hit With Countersuit on Basquiat Auction
Claiming that her father’s lawsuit gutted the auction of a Basquiat masterpiece, the middle daughter in a family of art collectors brought a $100 million legal demand of her own Thursday in the latest swat of an ugly family dispute.
Read moreStudy Clocks High Mortality Risk After Midlife Financial Peril
Backing the idea that health and wealth go hand in hand, new research shows that middle-aged and senior adults whose fortunes faded in the wake of the 2008 financial crisis had a significantly increased mortality risk, as compared with the continuously wealthy.
Read morePoll: Most Americans Say Uncle Sam Neglects Elderly & Poor
Most Americans believe the federal government does not do enough to help the elderly, poor people and the middle class, the Pew Research Center reported Tuesday, and a majority also says the wealthy get too much support.
Read moreTax Package Would Lower Top Tax Rate for Wealthy Americans
Congressional Republicans on Tuesday rushed toward a deal on a massive tax package that would reduce the top tax rate for wealthy Americans to 37 percent and slash the corporate rate to a level slightly higher than what businesses and conservatives wanted.
Read moreSanders Rallies Ohio Students for Health Care, Wealth Equity
Onetime presidential hopeful and Vermont Sen. Bernie Sanders held a rally Tuesday at Shawnee State University in Portsmouth, Ohio, to discuss jobs, health care, and the economy.
Read moreMasseuse OK’d for Convicted Billionaire Under House Arrest
A Chinese billionaire convicted last month of corruption can await sentencing with an on-call masseuse at his palatial $4 million apartment, a U.S. judge ruled Monday.
Read moreMediterranean Diet Underscores Disparity Between Rich & Poor
The widely touted health benefits of the Mediterranean Diet comes with a surprising caveat – it works best if you’re rich.
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