Hurricane Joaquin is approaching the East Coast, but a different type of storm altogether already made landfall on our cities from coast to coast, creating record levels of income inequality and wage stagnation for the vast majority of citizens. Show More Summary
It seems inconceivable that Berkeley Law administrators did't see this coming: the school's current arrangement of students looks like a form of segregation. Law schools routinely break the incoming students into smaller sections, which Boalt calls "mods." It's standard practice that mods take 1L classes together. But Berkeley's current......
Controlling Liverpool's 'transfer committee' must be the priority for the incoming manager, argues Phil McNulty.
European banks have enough trouble staying profitable at the best of times but this past quarter may have been one of the worst since 2009 for their fixed income, commodities and currencies trading arms. The so-called FICC business has...Show More Summary
According to the World Bank, for the first time in human history, “less than 10 percent of the world’s population will be living in extreme poverty by the end of 2015.” The bank has “used a new income figure of $1.90 per day to define extreme poverty, up from $1.25. Show More Summary
Hank Paulson, Robert Rubin, and Tim Geithner crack up over the wage gap. At a recent Milken Institute panel of three former Treasury Secretaries – Hank Paulson, Robert Rubin, and Tim Geithner – hosted by Facebook executive Sheryl Sandberg, the moderator asked the three about income inequality. Show More Summary
If you’re a member of the military, there are some unique issues to face when it comes to saving and investing for the years after you stop actively earning an income, especially for those that are members of Gen Y & Gen X. While those who make the military a career [...]
Republicans and the rich guys who imposed 35 years of stagnant wages on American workers now offer a prescription for easing this pain! Their solution for robber-baron-level income inequality is not the obvious: Give workers raises. They don’t want to increase the minimum wage, which would eventually push up pay for everyone else as well. Show More Summary
I came across an interesting article focusing on the relationship between tax evasion and income inequality. The article reviews Gabriel Zucman’s The Hidden Wealth of Nations, which attempts to explain a puzzle that I didn’t realize existed. Show More Summary
Income inequality may be a hot topic, because what really stacks the deck is wealth inequality, and it's far worse.
Boxing was very, VERY good to Shane Mosley -- 'cause the guy has roughly $10 MILLION in the bank, which is awesome... but nowhere NEAR the kind of money Floyd Mayweather rakes in. Mosley had to declare his income and expenses to the court as…
Yes. This, you might think, qualifies as another in the series “Short Answers to Silly Questions”. But a Brookings Paper study by William G. Gale, Melissa S. Kearney, and Peter R. Orszag reaches the opposite conclusion. (Hat tip: Harry Clarke). The study looks at increasing the top marginal tax rate (currently 39.6, applicable to incomes […]
A huge chunk of your tax dollars every year goes straight into the pockets of crooks. Nearly one in three earned income credits (EIC) is fraudulent. And the numbers keep getting bigger every year according to the Government Accountability Office.Please consider GAO: Feds Made Nearly $1 Trillion in Overpayments Since Fiscal 2003. Show More Summary
I think it is best to just click and read this. In a study published this year in Nature Neuroscience, several co-authors and I found that family income is significantly correlated with children’s brain size — specifically, the surface area of the cerebral cortex, which is the outer layer of the brain that does most […]
Volkswagen has a very steep, very tough hill to climb, and Volkswagen’s incoming chairman said the emissions scandal that affects 11 million cars is “a threat to the firm’s viability albeit a surmountable one,” reports Reuters. Dieter...Show More Summary
BERLIN (Reuters) - Hans Dieter Poetsch, the incoming chairman of Volkswagen (VW), sees the scandal around the rigging of emissions tests as a threat to the firm's viability albeit a surmountable one, a newspaper quoted him as saying....Show More Summary
On a hot day in August, John King arrived in Los Angeles to better understand gangs. Then filling the role of deputy education secretary, King sat down with a group of former gang members and convicts in Chinatown. He met a woman named Mariana Ruiz, whose path to college was far from typical....
“I’m ready to get serious about financial freedom!” I used to be that guy—loudly proclaiming my intentions to build wealth and passive income, with the desire to invest in anything and everything that might grant me the freedom from a life of 9-5 drudgery. I was working 40-50 hours a week at a steady 9 to 5, [...]Show More Summary
Believe it or not, this business lesson I learned when I was four years old has added an extra $1 million to my life income.