The debate over billionaire taxes always comes back to the same question: What if the ultra-wealthy paid taxes at the same rate as regular people? I asked ChatGPT to crunch the numbers on what would happen if U.S. billionaires paid taxes at the same effective rate as the average California resident. Learn More: I Asked ChatGPT What Would Happen If Billionaires Paid Taxes at the Same Rate as the Middle Class Read Next: Warren Buffett: 10 Things Poor People Waste Money On ChatGPT broke down multiple scenari ...

Singapore has updated the methodology it uses to calculate the Gini coefficient to measure income inequality https://t.co/8rsCLXf3Je ...

CEO pay at top American companies rose to a median of $16.8 million in 2024. This was a 7.4% rise from just the year before, and it's part of a long-term trend that's been going on for decades. Meanwhile, the average worker's pay rose by less than 4% in the same period, which is not enough to keep up with inflation. Numbers like these matter in debates about inequality, corporate governance, and worker morale. This article breaks down how executives are paid, how their pay has changed over time, and how ...

Mark Zandi, the chief economist at Moody’s Analytics, highlighted the role of the wealthy in driving the U.S. economy.Top 20% US Households’ Spending Outpaces InflationZandi took to X to point out that the spending of the top 20% of U.S. households has significantly outpaced inflation since the pandemic. He also highlighted the disproportionate spending of the top 3.3% of the income distribution. According to the economist, the U.S. economy is heavily reliant on the spending of these well-to-do individuals. ...

Behind a paycheck, the largest source of income for the 1% highest earners in the U.S. isn’t being a partner at an investment bank or launching a tech startup.It is owning a medium-size regional business.Many of them are distinctly boring. https://t.co/pwVJQYkuZ6 ...