So-called “Main Street Millionaires” — as they’ve been dubbed in a new book by economists Owen Zidar and Eric Zwick — have more than 13 times the wealth of the Forbes 400. So who are they?
“The K-shaped economy is over,” Treasury Secretary Scott Bessent declared on CNBC last week. Economists say the evidence is mixed at best.
A Marylander started an income redistribution club last year after a bunch of his friends who worked for the federal government lost their jobs.
It could make the economy more vulnerable.
Bloomberg’s Claire Ballentine reports that women tend to be conservative, thoughtful investors and donate more to charity than men.
But the gains aren’t anywhere near evenly distributed.
Homeowners’ median net worth is about $400,000. Renters? Just $10,000, according to the Aspen Institute’s Financial Security Program.
New research finds that inequities in unemployment risk can explain some of the racial gap in stock market investment.
Under the Dawes Act of 1887, Native Americans lost more than 90 million acres of tribal land, which were sold to non-Native citizens.
Inflation continues to be a key factor but richer folks have greater protection from its effects.
