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Top News In The One Percent Today - Breaking & Trending Today

Why I'm all for Elon Musk buying Twitter

After buying a 9.2 percent stake in Twitter and becoming its biggest shareholder, Elon Musk announced an offer last week to buy the company for USD 54.20 per share, in cash. ....

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How Klaus Schwab Built a Billionaire Circus at Davos

The überrich flock annually to the World Economic Forum, where they can schmooze and strike deals under the guise of saving the world. A new book reveals how its founder benefits from this gathering of the global elite. ....

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Forget the debate over public health versus jobs – the same people suffer the most either way


Throughout the pandemic, millions of Americans wondered: “Is the cure worse than the disease?”
The question implies a trade-off between “the cure,” in the form of economic shutdowns, and “the disease,” COVID-19. This debate dominated headlines in the first months of the pandemic. More than a year later, it continues to be a partisan lighting rod.
But our research shows that mortality during the pandemic in America has never fit the narrative that pits economic shutdowns against COVID-19.
Wethreeare a research team of social epidemiologists who study the various ways social policies and conditions influence health. Our latest research in the American Journal of Public Health estimates how many excess deaths are likely to result from job losses at the start of the pandemic. We found that those at greatest risk of dying of pandemic-related unemployment are also those more likely to die from COVID-19. ....

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Taxes on the Rich: One-Sixth of What They Used to Be


THE ONE-PERCENTERS-America hasn’t stopped taxing its wealthiest citizens entirely. But that’s where we’re headed. 
According to a new IPS briefing paper, the richest .01 percent of Americans, about 33,000 lucky souls today, now pay just one-sixth of what they used to pay in taxes, when measured as a percentage of their total wealth. 
The top .01 percent in America is a phenomenally wealthy group. Even during America’s most egalitarian periods, the average member of the top .01 percent held over 200 times the wealth of the average American. Today, the wealth of the average top .01 percenter is nearly 1,000 times that of the average American and is closing in on one billion dollars.  ....

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"It's a Clown Car of a Race": In New York's Mayoral Knife Fight, the 1 Percent Is Longing for Mike Bloomberg 2.0


To revist this article, visit My Profile, then View saved stories.
As the more than 30 candidates running for New York City mayor Zoom from morning till dawn, the city’s plutocrats have been watching the virtual campaign in the comfort of second (or fourth) homes. And so far the diaspora of the city’s 1 percent is not happy. “In general the city’s elite think there’s something of a race to the bottom,” said the Partnership for NYC president,
Kathryn Wylde, who acts as the voice of the city’s CEOs. Wall Streeters I spoke with were even less charitable. “It’s a clown car of a race,” said one banking executive. “They’re incompetent,” complained a hedge fund manager. “You want to be mayor and rant and rave about social progress and all that shit? Fine, but take out the garbage first.”  ....

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