Income Inequality News
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Singapore intensified efforts to address the island’s income gap in its budget, with measures to boost aid for the poor and curb foreign-worker inflows that signal it’s putting less priority on pursuing high growth rates.
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Chief executive officers are not the only highly paid people in America. It’s just their misfortune that, thanks to disclosure rules, they’re among the most visible.
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Singapore’s 2012 budget will probably feature assistance for the poor even after the island reported its lowest unemployment rate since the late 1990s, as policy makers seek to address the soaring cost of living and help citizens cope with a slowing economy.
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Latvia’s economic crisis, which erased more than a fifth of economic output, led to a fall in incomes and an increase in the number of people at risk of poverty, the International Monetary Fund said.
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As everybody knows by now, Warren Buffett -- class traitor -- pays a smaller share of his income in taxes than does his secretary, Debbie Bosanek. In his State of the Union address last month, President Barack Obama proposed the “Buffett Rule” to rectify this.
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Ukrainian billionaire Victor Pinchuk wants to talk about income inequality. So does Irish billionaire Denis O’Brien and Indian billionaire Vikas Oberoi.
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International investors say capitalism is in crisis, with almost one in three backing radical changes to the system, according to a Bloomberg survey.
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President Barack Obama cast himself as the vessel of fairness in an age of anger, saying he would be the bulwark against a growing wealth gap and Republican policies that he said would widen the disparity.
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Most international investors say a tax break allowing private equity and hedge-fund executives to pay lower tax rates than many average Americans isn’t warranted, according to a Bloomberg survey.
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Lawyers for Occupy Wall Street dropped a court challenge to the forcible eviction by New York police of protesters from Zuccotti Park in lower Manhattan in November, according to the city law department.
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