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Keyword: wealth

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  • Why no, Hillary, spreading the wealth around has not been good for everybody

    08/21/2016 7:44:29 AM PDT · by Sean_Anthony · 8 replies
    Canada Free Press ^ | 08/21/16 | HERMAN CAIN
    Or anybody One of the favorite tactics of Democrats is to demand to be allowed to do something, and then, once they’ve done it and it didn’t work, pretend they never got to do it and insist the solution is to do the dumb thing they already did. Remember the conversation in 2008 between then-Sen. Barack Obama and Joe the Plumber? Joe tried to explain to Obama how his tax increases would negative affect a small business like his. Obama’s response was, “When you spread the wealth around, that’s good for everybody.”
  • You Can’t Take It with You, But You Can Send it on Ahead! Five Teachings on Wealth

    07/31/2016 7:17:17 AM PDT · by Salvation · 22 replies
    Archdiocese of Washington ^ | 07-30-16 | Msgr. Charles Pope
    You Can’t Take It with You, But You Can Send it on Ahead! Five Teachings on Wealth Msgr. Charles Pope • July 30, 2016 • The Gospel today is not merely a warning against greed; it is an instruction on income and wealth given by Jesus to help us root out greed. As the Gospel opens, the problem of greed is presented. Following that, a prescribed perspective on wealth is offered. Let’s take a look at both parts of this Gospel. I. The Problem that is Portrayed – The text begins, Someone in the crowd said to Jesus, “Teacher,...
  • Carson: Trump children grew up with the 'disadvantage' of wealth

    07/22/2016 12:17:08 PM PDT · by Hojczyk · 25 replies
    Washington Examiner ^ | July 21,2016 | By T. BECKET ADAMS
    It says a lot about Donald Trump that his children are such delightful people, even though they were raised with the "disadvantage" of being very wealthy, Ben Carson said Thursday. "All of the Trump children are absolutely delightful people. And I think that speaks volumes about the man," he said, referring to the GOP nominee. "Anybody who can raise children, particularly in the environment they came up in, which I think is a disadvantaged environment. Because I know a lot of people who are very rich and their kids are so spoiled, and I think it's a disadvantage. I really...
  • Who Is On The Side of American Workers?

    07/10/2016 8:39:48 AM PDT · by Kaslin · 23 replies
    Townhall.com ^ | July 9, 2016 | John C. Goodman
    Is it Hillary Clinton? Bernie Sanders? Democrats in general? Or is it the supply side policies of the GOP? Economists have been studying economic wellbeing and its determinants since the days of Adam Smith and we know quite a lot about it. So let’s jump to the bottom line. Aside from the rule of law and free markets, the most important determinant of the average wage is economic growth. And the most important ingredient in economic growth is capital accumulation. More capital, more growth. If you place the origin of modern human beings at about 100,000 years ago, for almost...
  • Theranos founder's net worth goes from $4.5 BILLION to nothing amid fraud claims

    06/01/2016 11:50:25 AM PDT · by CorporateStepsister · 29 replies
    Daily Mail ^ | 1 June 2016 | Regina F. Graham For Dailymail.com
    Last year she was on top of the world, but now Elizabeth Holmes has a net worth of zero. Holmes, who is the founder of blood-testing company Theranos, was at the top of Forbes' list of the richest self-made women in America with a net worth of $4.5billion last year. However, Forbes has lowered their estimate of her net worth to nothing, amid allegations that the blood-testing company she founded in 2003 has inaccurate tests and is being investigated by federal agencies. Theranos Inc was sued on Thursday, accused of endangering customer health through 'massive failures' that misrepresented the accuracy...
  • Global Economic Weakness Doesn't Beget U.S. Strength

    05/31/2016 4:13:21 AM PDT · by expat_panama · 24 replies
    Forbes ^ | May 30, 2016 | John Tamny
    As you read this opinion piece on your computer, ask yourself if you could have done so twenty years ago. Possibly, but access would have been very slow thanks to dial-up internet. Going back to the 1970s, airfare was very expensive thanks to airline routes being planned Soviet Union style by the Civil Aeronautics Board. The top tax rate back then was 70 percent... ...calls on those phones were prohibitively expensive, and ownership of a $3,995 mobile phone... ...Yuval Levin argues that it’s silly to pine for the past, yet in making this essential point he promotes another economic myth...
  • If We Are So Rich, Why Don't We Feel Rich?

    04/05/2016 5:45:28 AM PDT · by expat_panama · 41 replies
    Library of Economics ^ | APRIL 4, 2016 | Donald J. Boudreaux
    ...With important exceptions, such as antibiotics, commercial air travel, air conditioning, and the Internet, most of the goods and services that define our modern prosperity are akin to Pool Noodles. Each one, individually, adds only a minuscule amount of well-being—or what economists call "utility"—to our total human experience. Each is akin to a drop of water in a large swimming pool: add a single drop of water to a swimming pool and, the laws of physics inform us, the water level of that pool will be higher than it would be without that drop of water. But good luck trying...
  • Here's how America's middle class stacks up against the rest of the world's

    03/20/2016 10:55:12 AM PDT · by SeekAndFind · 15 replies
    Business Insider iva the Motley Fool ^ | 03/20/2016 | Sean Williams
    The middle class may be the foundation upon which the United States was built, but a number of recent studies suggest the working class is being left in the dust. A study from the Pew Research Center in December showed that middle-class Americans are no longer in the majority. Whereas in 1971 middle class Americans totaled 80 million, and lower- and upper-income classes combined equated to 51.6 million, the 2015 data looks far different. As of last year, 120.8 million adults were in the middle class ßß but this figure now takes a back seat to the 121.3 million combined...
  • Why Donald Trump's Tax Returns May Prove He's Not That Rich

    03/03/2016 8:39:08 AM PST · by SeekAndFind · 121 replies
    Fortune ^ | 03/03/2016 | by Shawn Tully
    The GOP frontrunner appears to have mixed up income and revenue. On two occasions, this writer has spent weeks striving to demystify the Vatican’s finances. Now I’m attempting to solve the riddle of Donald Trump’s income and net worth. Pope Francis, who recently exchanged barbs with Trump over immigration, has bravely promised to open the Vatican’s books. Trump sounds less righteous in claiming that he won’t publicly release his tax returns while he’s being audited by the IRS, but does pledge to eventually make the highly anticipated filings public. Until then, voters can glean a great deal of information from...
  • Finance, not tech, is driving growth in U.S. billionaires

    02/25/2016 6:02:19 PM PST · by SkyPilot · 11 replies
    Market Watch ^ | 25 Feb 16 | Silva Ascarelli
    <p>Silicon Valley may have plenty of millionaires, but the road to U.S. billionairedom is increasingly paved through finance.</p> <p>Nearly 27% of all U.S. billionaires in 2014 worked in finance (read: hedge-fund managers and a few others), according to a study by Caroline Freund, a senior fellow at the Peterson Institute for International Economics, and Sarah Oliver, a research analyst at the Washington, D.C.-based think tank.</p>
  • When Family Fortunes Beget Vicious Power Struggles

    02/12/2016 6:18:59 AM PST · by SeekAndFind · 9 replies
    New York Times ^ | 02/12/2016 | By JAMES B. STEWART
    Consider the plight of Shari Redstone, the daughter of the billionaire media mogul Sumner Redstone. Much of her family's fortune is tied to the ailing 92-year-old Mr. Redstone. He owns 80 percent and she owns 20 percent of National Amusements, the private business that controls two giant media companies -- Viacom and CBS. Upon Mr. Redstone's death, his interest passes to a trust with his grandchildren as beneficiaries. But Mr. Redstone hardly set the stage for an orderly transition. He stubbornly held on so long as executive chairman of both CBS and Viacom that shareholders began to question his ability...
  • How rich is Bernie Sanders?

    02/08/2016 7:50:16 AM PST · by SeekAndFind · 15 replies
    American Thinker ^ | 02/09/2016 | Thomas Lifson
    There is a short answer to the question: a lot richer than he admits. And the longer answer is even more interesting.  Writing at Doug Ross’s Director Blue, Cliff Kincaid explains: [former publisher of Campaigns & Elections Magazine James] O’Brien has analyzed the financial status of Sanders and his wife, including their financial disclosure report, and has concluded they have a net worth in the range of $1.2 to $1.5 million, not the $700,000 or less that is usually reported by the media. (snip) …his wife, Jane O’Meara Sanders, left her position as president of Burlington College under controversial circumstances and...
  • 'Armani Communist' divides China (Communist Party Rich)

    02/05/2016 6:41:42 PM PST · by goldstategop · 2 replies
    BBC Trending Blogs ^ | 02/06/2016 | bbctrending
    However wealthy Liu's parents may or may not be, it is clear that this is a boy who is no stranger to attention. He is known as a child star who acts and sings. More than 20,000 people follow his Weibo page. He's famous for appearing on a local Shenzhen-based show called "Family Show". Some admirers have condoned Liu Bo's choice of suit and complimented him on his appearance. "Please make this Armani wearing youth's clothing be the whole countries' primary and secondary school uniform" said one Weibo post which received more than 10,000 likes. During the years of the...
  • Immigrant Youth Confronts Ted Cruz, Asks If He Would Deport Her...

    01/08/2016 2:13:43 PM PST · by DaveyB · 26 replies
    The Blaze ^ | Jan. 8, 2016 | Chris Enloe
    Texas Sen. Ted Cruz did not back down from his stance on immigration Wednesday night, after being confronted by a woman who asked if he would deport her, even though it was her parents who brought her to the United States illegally. During an event in Storm Lake, Iowa, Wednesday night, Ofelia Valdez, 30, told Cruz that although she was brought to the country illegally by her parents as a teen, she was able to retain residency due to President Barack Obama's Deferred Action for Childhood Arrivals program, or "DREAM act." As a DACA holder myself, I am worried about...
  • What Can the Rich Afford that Average Americans Can't? Consumption Inequality is Decreasing!

    01/07/2016 7:10:36 AM PST · by SeekAndFind · 12 replies
    Foundation for Economic Education ^ | 01/07/2016 | DONALD J. BOUDREAUX
    Raffi Melkonian asks -- as relayed by my colleague Tyler Cowen -- "When can median income consumers afford the very best?"Tyler offers a list of some of the items in the modern, market-oriented world that are as high-quality as such items get and yet are easily affordable to ordinary people. This list includes iPhones, books, and rutabagas. Indeed, this list includes nearly all foods for use in preparing home snacks and meals. I doubt very much that Bill Gates and Larry Ellison munch at home on foods -- such as carrots, blueberries, peanuts, and scrambled eggs -- that an ordinary...
  • Rubio's Personal Finances Good for America

    12/06/2015 8:06:19 AM PST · by Kaslin · 18 replies
    Townhall.com ^ | December 6, 2015 | Bruce Bialosky
    After seven years of the Obama administration, Americans are fed up with their politicians. Americans think their elected leaders have created winners and losers and that the average American is the loser. They think everyone is taking advantage of the system except for them. The electorate is revolting. One presidential candidate they should not be peeved at is Marco Rubio. This has come to the forefront because Sen. Rubio is not a wealthy man. One candidate, Donald Trump, has disparaged him for his lack of financial success. That is particularly fascinating coming from someone who grew up amid great wealth...
  • Mark Zuckerberg plans to toss 44 billion dollars in the garbage

    12/02/2015 7:32:41 AM PST · by SeekAndFind · 35 replies
    American Thinker ^ | 12/02/2015 | Ed Straker
    If you were wealthy and your first child was just born, what would be the first thing you would do? Give away all your money so your child would get almost nothing, right? Well, that's the decent parental instincts of Facebook's Mark Zuckerberg, who penned an open letter to his newly born daughter telling her that she would never, ever see 99% of the 45 Facebook billion dollars he had made. His daughter Max will surely appreciate his noble gesture. Instead, he plans to give it all to his charitable foundation, I mean his LLC, the Chan Zuckerberg Initiative. In...
  • Why Does Jesus Tell Us to Use "Dishonest Wealth”?"

    11/09/2015 7:11:42 AM PST · by Salvation · 17 replies
    Archdiocese of Washington ^ | 11-08-15 | Msgr. Charles Pope
    Why Does Jesus Tell Us to Use "Dishonest Wealth"? Msgr. Charles Pope • November 8, 2015 • There was a puzzling reference in Saturday morning's Gospel (Saturday of the 31st week in Ordinary Time) in which Jesus says,I tell you, make friends for yourselves by your use of dishonest wealth, so that, when it fails, they will welcome you to eternal dwellings (Luke 16:9).What does He mean by "dishonest wealth"?The Greek expression μαμωνᾶ τῆς ἀδικίας (mamona tes adikias) is more literally translated as “mammon of unrighteousness.” Mammon is a Hebrew and Aramaic word that has a wider meaning than just...
  • Battle of the bling! As Kate's Lotus Flower steals the show at the state banquet (trunc)

    10/22/2015 10:10:40 PM PDT · by afraidfortherepublic · 43 replies
    The Daily Mail ^ | 10-22-15 | Jo Tweedy
    Few pieces of jewellery suggest blue blood like a tiara does. Worn on the grandest of occasions, they are shimmering visions of wealth, perfectly perched on some of the world's most regal crowns. On Tuesday night at Buckingham Palace, all eyes were on the Duchess of Cambridge as she attended her first state banquet to welcome the Chinese President Xi Jinping and his wife Peng Liyuan. Kate, 33, matched a beautiful red dress by Jenny Packham - a nod to China's flag - with the Lotus Flower tiara once owned by the Queen Mother. The delicate diamond tiara has fan...
  • Doing For Yourself

    10/22/2015 6:51:19 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | October 22, 2015 | Cal Thomas
    A recent New York Times headline read, "Raising Taxes on the Wealthiest Would Pay for Bold Plans." The story says that by soaking the rich "the government could raise large amounts of revenue ... while still allowing them to take home a majority of their income." Nowhere in the story, nor in the endless promises of Democratic presidential candidates, is there a single word about whether more government spending will produce the promised outcomes. We are to take this on faith, despite past performance being a good indicator of future results. Also absent is any expectation that individuals have more...
  • ‘Bush Bucks’ Reveals Half of Jeb’s Wealth Comes from Companies He Gave Lucrative Deals as Governor

    10/22/2015 5:50:27 AM PDT · by Enlightened1 · 41 replies
    The New York Times previews Breitbart News Senior Editor-at-Large Peter Schweizer’s upcoming e-book Bush Bucks, an investigation of crony capitalism revolving around Republican presidential candidate Jeb Bush. From the New York Times: Since announcing his presidential candidacy in June, Jeb Bush has made clear his distaste for officials who trade on their connections. He has assailed the revolving-door culture of Washington, calling for “a little bit of a recession” there to thin the ranks of the permanent political class. He has proposed a strict six-year ban on lobbying for departing members of the House and the Senate. And he has...
  • Our Democrat Welfare-State Drug Lords

    10/21/2015 7:20:41 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | October 21, 2015 | Star Parker
    Five liberal Democrat presidential candidates -- one actually honest enough to label himself a socialist -- appeared before the American public in their first debate. They made it apparent that the only variation between any of them was just how much bigger and how much faster each one wants to grow government. Democratic Party politicians no longer feel any need to even pay lip service to the idea that America has anything to do with a free people. Their unabashed rendition of the American dream is increasing percentages of the American population dependent on getting money recycled to them from...
  • Jesus: Lord of the Rich?

    10/21/2015 7:06:44 AM PDT · by SeekAndFind · 25 replies
    American Thinker ^ | 10/21/2015 | Jeremy Egerer
    If I could change one thing about Christianity today, I would make Jesus the God of the poor. If this sounds as if I've forgotten all the passages about the meek inheriting the earth and camels going through the eye of a needle, some explanation may be necessary. Whatever the Bible says about the poor being blessed, their blessing may rest entirely on the fact that Christians today aren't placing them under any obligations. They're blessed because they do inherit the earth, but only in the sense that they don't have any rules to follow, and only because they don't...
  • Income Inequality Is Irrelevant In A Country Like America

    10/20/2015 5:34:35 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | October 20, 2015 | John Hawkins
    "It is in the character of very few men to honor without envy a friend who has prospered." – Aeschylus The fundamental issue behind income inequality could be boiled down to a single question: Are poor Americans better or worse off because Bill Gates ($79 billion net worth), Oprah Winfrey ($3 billion net worth), Michael Jordan ($1 billion net worth) and Mark Zuckerberg ($40 billion net worth) are living in the United States? Certainly, having them living in America creates more income inequality. It also hurts the poor by….oh wait, having them here doesn’t hurt the poor at all. None...
  • Number of Billionaires in China Overtakes US: Survey

    10/15/2015 2:43:04 PM PDT · by nickcarraway · 21 replies
    Chanel News Asia ^ | 15 Oct 2015
    China now has 596 billionaires, despite slowing growth in the world's second-largest economy. The number of billionaires in China has overtaken that of the United States for the first time, an annual survey said on Thursday (Oct 15), calling it a "turning point" for the super-wealthy. Communist-ruled China now has 596 billionaires, up a "staggering" 242 over the last year, Shanghai-based luxury magazine publisher Hurun Report said, surpassing the 537 Americans. "The world used to look to American entrepreneurs ... for inspiration. This year, 2015, is a turning point," Hurun Report chairman Rupert Hoogewerf told AFP. "This is the...
  • Wealth, Poverty and Politics

    10/14/2015 8:03:12 AM PDT · by Kaslin · 27 replies
    Townhall.com ^ | October 14, 2015 | Walter E. Williams
    Dr. Thomas Sowell, my colleague and friend, told me several years ago that he wasn't going to write any more books, but that was two books ago, and now he has just published his 45th. The man writes with both hands, as can be seen from his website (http://tsowell.com), which lists his 45 books, 19 journal articles, 71 essays in periodicals and books, 34 book reviews, and occasional columns written in The Wall Street Journal, The New York Times, The Washington Post, the Los Angeles Times, The Washington Star, Newsweek, The Times (Britain) et al. Plus, he writes a semiweekly...
  • Inequality in everything: The rich get better breakfast sandwiches, too

    10/13/2015 3:38:52 PM PDT · by 2ndDivisionVet · 70 replies
    The Washington Post's Wonkblog ^ | October 13, 2015 | Roberto A. Ferdman
    Earlier this year, New York Times food critic Pete Wells was moved to write 841 words about breakfast sandwiches. It was a love letter of sorts, an ooey gooey ode to the most basic form of one of the most basic morning foods. But it was also a complaint: A new restaurant called BEC — short for Bacon Egg and Cheese — was about to open in Manhattan, and he was less than pleased. Breakfast sandwiches, Wells explained, are nothing if not practical, prepared quickly and eaten on the go, stuffed with modest ingredients and sold at a reasonable price....
  • Welcome to Wealthy Middle Eastern Thug Privilege

    09/30/2015 5:42:17 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | September 30, 2015 | Michelle Malkin
    You've heard endlessly about "white privilege" from the professional social justice warrior gripers. But rarely does that crusading crowd -- or their spiritual leaders in the White House -- acknowledge the brutal impact of wealthy Middle Eastern thug privilege in America. I'm looking especially at you, Barack, Michelle and Valerie Jarrett (who hosted Black Lives Matter activists at 1600 Pennsylvania last week). The latest case of WMET privilege involves a well-connected Saudi prince arrested on Wednesday after allegedly sexually assaulting a woman at his $40 million Beverly Hills rental mansion. Witnesses reported seeing a bloodied woman screaming for help as...
  • How 'Caddyshack' Explains the Presidential Race

    09/24/2015 10:06:28 PM PDT · by 2ndDivisionVet · 22 replies
    The Atlantic ^ | September 16, 2015 | Christopher Orr
    A brash, rich lout crashes the party—and becomes an instant crowd favorite.During the 2012 campaign, Mitt Romney was repeatedly dogged by negative stories about his personal wealth. There was the car elevator. There was Cookiegate. Four years earlier, John McCain—hardly anyone’s idea of a typical plutocrat—got hammered for not being able to remember how many houses he owned. It was an issue for Steve Forbes before him and for George H. W. Bush before him. Republicans are already trying to use the many millions accumulated during Bill Clinton’s post-presidency as a cudgel against Hillary. Although it’s true that great wealth...
  • Poll: 38% born-again Christians believe prayer boosts wealth, 24% think wealth sign of God’s favor

    08/28/2015 7:06:37 PM PDT · by SeekAndFind · 53 replies
    Hotair ^ | 08/28/2015 | AllahPundit
    A little comments food-fight starter for a slow Friday news cycle. Even your friendly neighborhood atheist blogger is surprised by this result: My memory of youthful Christian lessons is rusty but I do vaguely recall something about rich men and heaven and camels and the eye of a needle. Then again, there’s a difference between praying for a Lamborghini and praying for a pay raise to help make ends meet. Wanting more wealth doesn’t necessarily make you greedy.The question: Why are born-again Christians more likely than those who don’t describe themselves as born again to tie wealth to faith?...
  • Full yet Lonely – A Picture of the Modern Person, as Seen in a Video

    08/22/2015 9:18:24 AM PDT · by Salvation · 9 replies
    Archdiocese of Washington ^ | 08-21-15 | Msgr. Charles Pope
    Full yet Lonely – A Picture of the Modern Person, as Seen in a Video Msgr. Charles Pope • August 21, 2015 • One of the great “evils” of our time is satiation. I put the word “evil” inside quotation marks to emphasize that no particular good thing that God has made is, in itself, evil. But on account of our own inordinate drives, we accumulate and indulge beyond reason. And in becoming satiated, we leave little room for God or other people.The more materially affluent we get, the more spiritually poor we seem to become. The higher our standard...
  • Freedom - The Choice Over Unconstitutional Government and Tyranny

    08/05/2015 10:21:40 AM PDT · by Jim 0216 · 4 replies
    Essay ^ | 8/5/15 | Jim 0216
    Previously posted, but I think is worth re-posting every so often… The ONLY real, valid choice in life is freedom, especially when faced with tyranny. Freedom is at the heart of most issues these days even if many don’t realize it. Your run-of-the-mill politician and most candidates for 2016 election see no political future in freedom. Of course that makes sense since political freedom is the absence of government and government coercion. Individual freedom or liberty is tremendously valuable and easily lost and is being drowned out by the deafening drum beats and bull horns of the Leftist MSM, government...
  • Ted Cruz, Scott Walker, John Kasich Disclose Personal Finances; Who Is Rich And Who Is In Debt?

    08/04/2015 1:45:53 AM PDT · by Cincinatus' Wife · 17 replies
    International Business Times ^ | August 3, 2016 | Andrew Perez
    Ohio Gov. John Kasich and Sen. Ted Cruz are millionaires. Their Republican primary opponent Scott Walker, the governor of Wisconsin, may be in debt. The disparity in wealth in the Republican presidential primary was on display Monday, as the Federal Election Commission released personal financial disclosures filed by three of the GOP presidential contenders. The candidates are required to report details about their finances in order to qualify for the first 2016 primary debate, which will be hosted by Fox News in Cleveland on Thursday. Cruz, who has spent most of his life working in government, listed at least $2.1...
  • Black Money Matters

    08/01/2015 6:18:46 AM PDT · by Kaslin · 24 replies
    Townhall.com ^ | August 1, 2015 | Harry R. Jackson, Jr
    No one living has missed the slogan “ Black Lives Matter”! Even presidential contenders have been scolded because of their opinions about this slogan. But what about the economics of the black and brown communities? As the United States continues to become increasingly racially and ethnically diverse, the wealth gap between the races has reached a 24 year high. According to the Pew Research Center, white households today have about 16 times the wealth of black households, compared to having just 8 times the wealth in 2010. There are many reasons for this widening gap, but according to a policy...
  • Bloomberg: Donald Trump is overstating his wealth by more than $7 billion

    07/28/2015 7:20:44 AM PDT · by SeekAndFind · 52 replies
    Business Insider ^ | 07/28/2015 | Colin Campbell
    Real-estate magnate Donald Trump frequently touts his wealth on the presidential campaign trail. But a new report essentially accuses the GOP candidate of overstating his net worth by billions of dollars.Bloomberg reporters Caleb Melby and Richard Rubin, citing an analysis by the Bloomberg Billionaires Index, reported Thursday that Trump was actually worth about $2.9 billion.That's more than $7 billion less than Trump has said.In a statement earlier this month, Trump's campaign wrote that the real-estate developer and television personality has seen his net worth rocket upward even in just the past year."Real-estate values in New York City, San Francisco, Miami,...
  • We finally know a lot more about Donald Trump's 'massive' net worth

    07/25/2015 7:23:04 AM PDT · by SeekAndFind · 11 replies
    Business Insider ^ | 07/25/2015 | Brett LoGiurato
    The world learned much about real-estate mogul Donald Trump's wealth this week, as the Federal Election Commission released a 92-page personal-financial-disclosure report filed by the Republican presidential candidate as part of his nascent campaign. Trump's campaign released a statement on July 15, when he filed disclosure with the FEC, saying it would reveal a "massive" net worth "in excess of TEN BILLION DOLLARS." The report still does not completely detail Trump's fortune, as it deals mostly with ranges. "For instance, they have boxes once a certain number is reached that simply state $50 million or more. Many of these boxes...
  • Economics 101 - Reagan vs Obama

    07/17/2015 6:56:24 AM PDT · by Paul46360 · 4 replies
    YOUTUBE ^ | 7-17-15 | zeo221
    Capitalism vs Socialism - Economics 101 - Reagan vs Obama
  • Pew Research: Being At the US Poverty Line Makes You In The Top 16% of All Human Beings

    07/11/2015 11:26:18 PM PDT · by 2ndDivisionVet · 15 replies
    Forbes ^ | July 10, 2015 | Tim Worstall
    One of the things that I have been trying to point out around here is that the United States doesn’t actually have poverty by the way that the rest of the world understands this word, “poverty”. Most certainly, there are people in the US, in America, who have more than others. This is inequality. And yet we have myriads, almost myriads of myrmidons, telling us that this equals poverty. And I’m sorry, but these two things are just not the same. Inequality is not poverty: poverty is not inequality. And now we’ve got this latest set of numbers from Pew...
  • Let’s Hope Machines Take Our Jobs: We Want Wealth, Not Jobs

    07/09/2015 9:13:02 PM PDT · by 2ndDivisionVet · 67 replies
    The Market Oracle ^ | June 11, 2015 | Peter St. Onge
    Peter St. Onge writes: The job-threatening rise of the machines is an economically illiterate meme that refuses to die. We’re actually probably in the early stages of it, a bull-market in neo-luddism, if you will. Bastiat’s “Candlemakers Petititon” answered this one long ago, but today I’ll run a little thought experiment that owes it all to good old Bastiat. Let’s say Weird Al Yankovic invents a machine capable of making everything with a single push of a button. The first thing he does is print up a bunch of machines and sell them for a ton. Weird Al is now...
  • Four Reasons the Left Should Love Capitalism But Doesn’t

    07/08/2015 4:00:17 PM PDT · by Kaslin · 8 replies
    Townhall.com ^ | July 8, 2015 | Carl Jackson
    Capitalism has a new competitor and its name is "shame." The left is determined to make capitalism morally reprehensible. Cloaked in provocative terms like "income inequality," wealth redistribution has become the popular economic philosophy in America today, but it doesn't hold a candle to capitalism. When your first grade teacher asked the class "what do you want to be when you get big?" I'm doubtful anyone raised their hand to say "ooh, ooh, a welfare recipient!" I'm also certain your classmates never pointed to posters of their teen idols to say "anyone but them!" In other words, socialism isn't natural;...
  • Rubio was terrible with money. No, wait… Rubio was too rich!

    06/30/2015 6:36:19 AM PDT · by SeekAndFind · 6 replies
    Hotair ^ | 06/30/2015 | Jazz Shaw
    The New York Times made it clear to us last month with hilarious results: Marco Rubio was terrible with money. He wasn’t earning enough and couldn’t manage what little he had very well. He overextended his limited income with extravagant purchases of fishing boats and handsome brick driveways in front of his home which had windows too large for polite society. Well, that story hit the political scene like a bag of wet mice smacking onto the pavement. But now comes round two! The Washington Post counters with an argument that Rubio quickly translated his “political star power” into...
  • Pope Francis’s ‘holy war’ on capitalism and toxic inequality [Revelation 16]

    06/18/2015 3:49:10 PM PDT · by Jan_Sobieski · 52 replies
    Market Watch ^ | Nov 18, 2014 | Paul Farrell
    Big first-year anniversary for anticapitalist, anticonservative, socialist Pope Francis. Fortune magazine ranks him first among the “World’s 50 Greatest Leaders.” Tenure unlimited. Now he’s in an ideological war with U.S. Senate Majority boss Mitch McConnell’s Big Oil backed GOP as well as conservative ideologues. At war in America’s unstable, endlessly fickle, myopic, rigged political arena. [...] [...] Yes, Pope Francis is celebrating his one-year anniversary since laying down his anticapitalism manifesto for his army of 1.2 billion Catholics worldwide. He’s also been removing conservative cardinals and bishops from leadership roles. He’s hell-bent on changing the world fast. And his mandate...
  • Millionaires control 41% of world's wealth, expected to take more

    06/16/2015 8:36:13 AM PDT · by 2ndDivisionVet · 56 replies
    CNBC's Inside Wealth ^ | June 15, 2015 | Robert Frank
    (VIDEO-AT-LINK) Millionaires are expected to control nearly half of the world's personal wealth by 2019, according to a new study, suggesting that the wealth gap will continue to widen. The Global Wealth report from Boston Consulting Group (BCG) said the number of millionaires in the world grew to 17 million in 2014, up from 15 million in 2013. The world's millionaires now control 41 percent of the $164 trillion in global private wealth, up from 40 percent in 2013. The report said millionaires are expected to control 46 percent of the world's wealth in 2019. The growing fortunes of the...
  • Asia just overtook Europe in wealth for the first time in centuries — and North America is next

    06/15/2015 9:30:42 AM PDT · by SeekAndFind · 7 replies
    Business Insider ^ | 06/15/2015 | Mike Bird
    The Asia-Pacific region steamed past Europe in terms of private financial wealth in 2014, according to estimates released by Boston Consulting Group on Monday. In 2014, BCG estimates that eastern and western Europe combined had a private wealth of $42.5 trillion, beaten by Asia-Pacific's rapidly growing pile, now worth $47.3 trillion. The Asia-Pacific figures exclude Japan, which gets its own estimate.BCG doesn't provide a long-run estimate for when the last time Asia-Pacific was likely wealthier than Europe. The report has been produced for 15 years, but given the performance of the two continents throughout history, it's likely to have been...
  • U.S. household net worth increases to $84.9 trillion

    06/12/2015 7:04:13 AM PDT · by SeekAndFind · 14 replies
    Reuters ^ | 06/12/2015
    The net worth of U.S. households rose in the first quarter due to the rising value of homes and investments, a positive sign for the outlook for consumer spending. The increase added $1.6 trillion to the total wealth of American families, putting it at a new record high of $84.9 trillion, a report by the Federal Reserve showed on Thursday. While the economy and consumer spending was sluggish in much of the first quarter, the data suggests U.S. households are on a better financial footing and consumers may open their wallets more. Many economists believe that consumers spend a few...
  • About Inequality: Rich Get Poorer Over Time, Not Richer

    06/09/2015 5:35:40 AM PDT · by SeekAndFind · 9 replies
    IBD ^ | 06/09/2015 | BY STEPHEN MOORE AND ROB ARNOTT
    It's no secret that the Democrats' 2016 presidential campaign theme will be class warfare — or as Hillary Clinton calls it, "toppling the rich." Which is "rich," given her own wealth. The left has bought all in to the claim by academics like French economist Thomas Piketty, who argues that capitalism is creating vast dynasties of wealth that are hoarded by a select few oligarchies, with money being handed down from one generation of trust-fund babies to the next. This narrative is mostly rubbish. While today's rich are much richer than the rich of past generations, the rotation among the...
  • The myth of the idle rich: Prosperous families put in many more hours at work than poor ones

    06/08/2015 4:55:05 AM PDT · by SeekAndFind · 29 replies
    Washington Times ^ | 06/07/2015 | By Stephen Moore and Joel Griffith
    President Obama recently acknowledged what every sane person knows to be true: The best anti-poverty program is a job. Mr. Obama said this at a recent conference on poverty. But he continues to repeat a falsehood over and over. This is the claim that the poor work just as hard as the rich do. Well, yes, many people in poor households heroically work very hard at low wages to take care of their families. No doubt about that. Yet the average poor family doesn’t work nearly as much as the rich families do. And that’s a key reason why these...
  • Reparations Would Help Close Wealth Gap in America

    06/04/2015 11:01:47 PM PDT · by 2ndDivisionVet · 78 replies
    The questions around reparations to descendants of slaves in America often trigger strident conversations. These discussions lay bare how race continues to affect the nation - despite the unfounded protestations by Americans that race holds little relevance to their lives. The "coded racial appeals" that Ian Haney Lopez has written in his informative book, "Dog Whistle Politics: How Coded Racial Appeals Have Reinvented Racism & Wrecked The Middle Class," is must reading for all Americans and provides a foundation for how racism endures and evolves. In this week's guest blog, Michael Holzman provides additional thought suggesting the moral debt America...
  • China gets a new billionaire every week: Wealthy Chinese are getting even richer really fast.

    05/26/2015 10:03:17 PM PDT · by 2ndDivisionVet · 28 replies
    CNN Money ^ | May 26, 2015 | Sophia Yan
    A new billionaire was created almost every week in China in the first quarter of 2015, according to a report by UBS and PricewaterhouseCoopers. Wealth creation is booming for the Chinese -- supported by strong economic growth and robust capital markets -- and it's all happened in the last 15 years, said Francis Liu, a managing director at UBS Wealth Management. They're primarily pulling in the big bucks from real estate, technology, healthcare and other consumer industries, he said. In 2014, there were about 200 billionaires in China, versus 570 in the U.S., according to UBS. Chinese billionaires are also...
  • Indian Americans richest community in the US with median income of $100,547

    05/08/2015 10:30:30 PM PDT · by cold start · 53 replies
    India Tv ^ | 2 May 2015
    Washington: The median income of Indian-Americans, which is the richest ethnic community in the US, in the year 2013 was $100,547, Census Bureau said in its latest report. The figure is almost double the national median income and significantly more than even white, non-Hispanic Americans whose median income is approximately $57,000. In its latest report, the US Census Bureau said Indian Americans are the third largest Asian community in the United States after Chinese and Filipinos. The Chinese (except Taiwanese) population was the largest Asian group, followed by Filipinos (3.6 million), Indian American (3.5 million), Vietnamese (1.9 million), Koreans (1.8...