September 29, 2005
The Rich Get Richer
Sure, the US national poverty rate has risen for 4 consecutive years and median income is stagnant. But the good news is that, according to the recently released Forbes 400, the nation's 400 wealthiest individuals collectively added $125 billion to their assets last year. (A quick back-of-the-envelope calculation tells me that's the equivalent of roughly $3,400 per fellow American in poverty.)
No surprise, two Cascadians continue to figure prominently in the rankings. Bill Gates ($51 billion) and Paul Allen ($22.5 billion) rank number 1 and 3, respectively.
Posted by Eric de Place | Permalink
TrackBack URL for this entry:
Listed below are links to weblogs that reference The Rich Get Richer:
Well, the NeoLiberal economists tell us we are so much happier because this wealth trickles down to us and we...uh...um, no, even they aren't saying that anymore. Never mind.
Posted by: Dan Staley | Sep 29, 2005 3:23:27 PM