Commentary On Tax Day this year, about a dozen left-wing millionaires joined with some of the most liberal Democrats in Congress for a Washington, D.C., press conference. The luminaries included Abigail Disney, Walt Disney’s granddaughter, and former BlackRock whiz kid Morris Pearl. The group argued that it wants to pay more taxes and urged new…
Americans’ Incomes Decline for Second Year in a Row Amid Soaring Inflation
September 14, 2022
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Business & Marketseconomyhousehold incomeincome inequalityinflationpersonal financepoverty ratesU.S. Census BureauUSUS News
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The real median 2021 household income of Americans, recorded at $70,784, was down for a second year in a row, while poverty crept up as the country battles inflation at a 40-year high, according to numbers released on Sept. 13 by the U.S. Census Bureau in its annual report on the nation’s financial well-being. Compared…
China’s Urban-Rural Income Gap Keeps Widening, Challenging Xi’s ‘Common Prosperity’
Recently, authorities and experts in China have acknowledged that income inequality between urban and rural areas is increasing and that it presents a tremendous challenge for achieving “common prosperity.” “Common Prosperity” is a propaganda slogan coined by Communist Party leader Xi Jinping. It promises economic stability to all Chinese citizens and is at the same…
Xi Jinping Eyes Clampdown on China’s Rich in Bid to Redistribute Wealth
The Chinese regime’s top leader has signaled a hardening stance towards the country’s affluent in a bid to promote “common prosperity.” It’s the latest campaign aimed at tackling the country’s rising inequalities that analysts say reveal Beijing’s anxiety over the issue. In an economic planning meeting with top leaders on Aug. 17, Xi Jinping called…
Lockdowns Are the Great Unequalizer
Commentary Democrats and their liberal economic advisers obsess about income inequality. Will someone please tell them that no act in modern times has widened the gap between the rich and the poor more than the lockdowns going on right now? Diane Yentel, the president and CEO of the leftist National Low Income Housing Coalition, said,…
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