Despite data to the contrary, the Treasury Secretary made the case that the K-shaped economy no longer exists.
Category: Income Inequality
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Bessent Declares Widening Gap Between Rich and Poor ‘Dead’
The New York Times – Business: -
Leaving Property to Your Heirs Can Lead to Headache, not Robust Wealth
The New York Times – Business:Real estate passed down without a clear title of ownership can prevent families from creating generational wealth.
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Less Than 10 Percent of Eligible Children Have Trump Accounts
The New York Times – Business:More than six million have been signed up for the investment accounts, which open for contributions July 4, but there are barriers to uptake.
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A.I. Riches Fuel Economic Divide in Asia’s Chip Powerhouses
The New York Times – Business:A.I. demand is driving stock market gains and booming exports in South Korea and Taiwan. But the rest of the economy is being left behind.
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Higher Gas Prices Are Hitting Lower-Income Americans the Hardest
The New York Times – Business:People with lower incomes are driving less and devoting more of their budgets to transport as gas prices soar.
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How Airlines Turned First-Class Seats From Freebies to a Profit Engine
The New York Times – Business:Airlines used to give away most of their nicest seats, but they have increasingly found ways to persuade people to pay a lot for them.
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What Does an Ultra-Luxury First Class Ticket Get You? Flying in a Frictionless Bubble.
The New York Times – Business:A writer reports from inside the premium bubble, where there’s no such thing as too much, petty annoyances are nonexistent and the real world never intrudes.
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A World Where All Is Free? That’s Elon Musk’s Theory of ‘Sustainable Abundance.’
The New York Times – Business:The Tesla and SpaceX chief has told his followers that they will live in a world where robots will take care of every need and people do not have to work, in what has become his latest slogan.
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Minimum Wage Rises in Some States as Workers Struggle with Basic Costs
This year, for the first time, more Americans will earn a minimum wage of $15 per hour or higher than will earn the federal minimum of $7.25 per hour.
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New Car Sales Are Rising Thanks to Purchases by the Well-Off
A larger proportion of new cars are being bought by affluent Americans as prices and interest rates for auto loans climb, analysts said.
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Supreme Court Increasingly Favors the Rich, Economists Say
A new study found that the court’s Republican appointees voted for the wealthier side in cases 70 percent of the time in 2022, up from 45 percent in 1953.