The Super-Rich Are Raking In Billions By David Cay Johnson, DC Report. September 19, 2020 The Super-Rich Are Raking In Billions2020-09-192020-09-19https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/09/r.mahaux-trump-family-e1600530891499.jpg200px200px Above photo: One-Percenters Donald and Melania Trump with their son Barron in their Manhattan penthouse in 2010. Our Analysis of IRS Data Shows Trump’s Presidency Has Been Very Good for the Richest Americans. If you are in the 99% here is how well you are faring under Trump policies compared to the 1%: for each dollar of increased income that you earned in 2018, each One-Percenter got $88 more income. Huge as that ratio is, it’s small change compared to the […]
SuperRich
New York City is not dead, but the Hamptons have sure had a good pandemic so far. From Southampton to Montauk, the exclusive holiday towns strung along the south fork of Long Island have been hopping all summer. Unsurprisingly, many New Yorkers who can afford it are now planning to stay out east until coronavirus is no longer a threat. It’s a prospect that could change the Hamptons into a resort with no off-season, a prospect that sharply divides local opinion. While some welcome the firehose of cash that Manhattanites bring, others fret that pressure on services could overwhelm local infrastructure […]
While the shock caused by the COVID-19 health crisis has generated ripples across global economies, leaving failing industries, job losses and poverty in its wake, the pandemic hasn’t been so bad for everyone. While the COVID-19 pandemic continues to take its toll on the global economy and people’s fortunes, over three-quarters of the world’s wealthiest people are boasting impressive gains to their already vast family fortunes, reports The Guardian. The findings, based upon research into the family offices of the super-rich, are detailed in a report by the Swiss bank UBS, which revealed that 77 percent of families with average fortunes […]
Getty In the summer of 2010 Jho Low, a legendarily big-spending nightclub aficionado and financial dealmaker, rocked up at the doors of an expensive St Tropez nightclub, Les Caves du Roy, with Paris Hilton on his arm. Surrounded by women, including dozens of fashion models, Low and his brother Zhen engaged in an extraordinary display of wealth as they got into what was billed as an “East v West bottle war” against Winston Fisher, scion of a New York real estate family (the Lows are Malaysian) to see who could order the most Champagne. As each side ordered more and more […]