Mitt Romney—how rich is he, really? The answer to that question can be found in these three graphs comparing his wealth to that of our last five presidents (you know, just normal middle-class dudes). No comparison, would be how to describe the graphs in two words. Insane, would be how to describe them in one. LOLOLOLOL, would be how to describe them on the internet.
Let it be this one about Australian mining billionaire Gina Rinehart.
Is she an heiress? Inarguably. And yet she has, by hard work and guile and historic luck, multiplied the value of the business she inherited several hundred times over. The “h”-word seems to be partly a gender thing. The male scions of Australian family fortunes, such as Lachlan Murdoch (the eldest son of Rupert), are not routinely described in the press as heirs. Rinehart is the only woman among the rough lot riding the mining boom at tycoon level, and none of the others probably have to read much in the papers about how they really should be able to afford a hairdresser or a personal trainer.
Oh but there is so, so much more.
In recent income inequality news, the top 1 percent of owners have received 93 percent of income growth in 2010, and Fed chairman Ben Bernanke has acknowledged that low interest rates are affecting savers right now, but we’ll all benefit as the economy strengthens. That doesn’t make me feel any less bad about the tiny interest rates I’m seeing in my ING account right now.
How Swiss bank and offshore accounts work for tax evasion—and also how you get caught. (“He visited his clients in the U.S., delivering cash from their undeclared accounts or taking cash back to deposit in Switzerland, court records show.”)