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It’s Time to Get Billionaires Off of Welfare by Bernie Sanders and Ro Khanna : TrueReddit
> Well, first off, it's really overstated how much Bezos is wealthy. His wealth is tied up in Amazon stocks, which he periodically sells. So when he's worth $150B, or Amazon is worth $1 trillion, they don't have a bank account with that money in it. They have stock, which if they sold it all at todays value, would be worth that.

That said, Bezos probably has billions of dollars cash floating around. Billions.

Anyways, income is taxed when you make it. So your wealth - i.e. your stocks and assets - are not taxed until you convert it (by selling it) to income. So if Jeff Bezos sells a $1B worth of Amazon shares, it's now income, and it's taxed at the capital gains rate, which is now either 15% or 20%, and for him, would be 20%. So the government would get $200 million and he'd get $800 million.

Amazon, meanwhile, pays basically no taxes, because it doesn't actually make any money. It is increasing in value, but not making a lot of profit.
income  inequality  bezos  2018  taxes  US 
15 days ago by porejide
Family Budget Map | Economic Policy Institute
EPI’s Family Budget Calculator measures the income a family needs in order to attain a modest yet adequate standard of living. Compared with the federal poverty line and the Supplemental Poverty Measure, EPI’s family budgets provide a more accurate and complete measure of economic security in America. The Family Budget Map offers a view of cost of living for a two-parent, two-child family across the United States at the county level.
economics  statistics  income  map  budgets  data  tool 
17 days ago by trewbot
95% of Police Killings in 2015 Occurred in Neighborhoods With Incomes Under $100,000 | Alternet
The movement for criminal justice reform has finally brought the topic of police brutality back to the forefront. One unexplored aspect of police killings is the economic profile of the neighborhoods where the killings occur. In a first of its kind research project, I examined police killings this year and found that in the first five months, 95 percent of reported police killings were in neighborhoods with incomes under $100,000.
income  police-brutality  article 
17 days ago by trewbot
Families 'can't afford to follow healthy diet guidance' - BBC News
The Food Foundation says the poorest fifth of homes with children would have to spend 42% of their disposable income (after housing costs) to meet guidance set out in the Eatwell Guide.
UK  poverty  child  public  health  prevention  obesity  overweight  food  Brexit  GFC  social  trap  income  mobility  downward  inequality  FoodBank  Austerity  meritocracy  meritocratic  class 
19 days ago by asterisk2a

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