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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


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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