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Black neighborhoods in Kansas hard hit by property tax sales
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Black neighborhoods in Kansas hard hit by property tax sales
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Black neighborhoods in Kansas hard hit by property tax sales
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GUILFORD â In 1986, when he was 26, Chuck Collins did something some might consider brash when he decided he did not want his share of the family fortune, amassed starting in 1883 in Chicago by his great grandfather, Oscar Meyer.
But Collins â who recently penned a book criticizing wealth inequity â had been tossing the idea around for several years before that. He even had the audacity to broach the subject at a wealth management forum in 1983, during which he was told he was âa naïve, foolish and selfish manâ to even consider depriving his heirs of the inherited wealth he had himself inherited.
A new report from IPS/ATF tracks how much billionaires have gained during the pandemic.
These gains could signal that inequality keeps increasing during the pandemic.
Over the last 13 months, American billionaires added $1.62 trillion to their wealth a 55% increase.
This was a finding in the latest report from the left-leaning Institute for Policy Studies (IPS) and Americans for Tax Fairness (ATF). Both groups have tracked billionaire gains throughout the coronavirus pandemic, which has seen a K-shaped economic recovery for Americans: High-income workers have seen their jobs and pay grow, while low-wage workers have experienced the opposite. Billionaires huge pandemic-era wealth growth comes on top of a 19-fold increase in billionaire wealth over 31 years from an inflation-adjusted $240 billion in 1990 to $4.56 trillion in 2021, the report said. The report used data from Forbes to track billionaire gains from March 18, 2020 through April 12, 2021.