9:51 Jan 30th, 2012 | 127 notes

AP VIA WASHINGTON POST on just how rich Mitt Romney is: "Add up the wealth of the last eight presidents, from Richard Nixon to Barack Obama. Then double that number."

inothernews:

Mitt Romney, One Percenting it since birth.

2:47 Dec 27th, 2011 | 82 notes

Economic Downturn Took a Detour at Capitol Hill

What is clear is that members of Congress are getting richer compared not only with the average American worker, but also with other very rich Americans. While the median net worth of members of Congress jumped 15 percent from 2004 to 2010, the net worth of the richest 10 percent of Americans remained essentially flat. For all Americans, median net worth dropped 8 percent, based on inflation-adjusted data from Moody’s Analytics.

(Source: tartantambourine, via truth-has-a-liberal-bias)

10:38 Nov 7th, 2011 | 6 notes

"The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young adults and saddled them with housing and college debt. The typical U.S. household headed by a person age 65 or older has a net worth 47 times greater than a household headed by someone under 35, according to an analysis of census data released Monday. While people typically accumulate assets as they age, this wealth gap is now more than double what it was in 2005 and nearly five times the 10-to-1 disparity a quarter-century ago, after adjusting for inflation. The analysis reflects the impact of the economic downturn, which has hit young adults particularly hard. More are pursuing college or advanced degrees, taking on debt as they wait for the job market to recover. Others are struggling to pay mortgage costs on homes now worth less than when they were bought in the housing boom."