Millionaires Now Control 41% of Global Wealth

Millionaires now control a whopping 41 percent of the $164 trillion in global private wealth, and the wealth gap doesn’t show any sign of slowing. Up from 40 percent in 2013, millionaires are expected to control 46 percent of the world’s wealth by 2019. Of course, this doesn’t just include the lowly seven figure millionaire next door, but also those in the 3 comma club

These numbers come from the Global Wealth report from Boston Consulting Group (BCG), which found that the number of millionaires in the world grew from 15 million in 2013 to 17 million in 2014. Most of this change came from world-wide stock market and asset growth.

Why Tax Law Screws Actors, Screenwriters & Directors

Unless you’re getting a seriously fat tax return, April 15th isn’t your favorite day. But if you’re an actor, screenwriter or director, tax day can especially hurt. The US tax code disproportionately penalizes these careers in some unique ways while often giving others a miss, or at least not hitting so hard.

Low Income Students are Now a Majority In the Nation’s Public Schools

For the first time in recent history, a majority of the nation’s public school students are from lower income families. That’s the finding of the most recent report from the National Center for Education Statistics (NCES), which noted a striking increase over just a few decades. In 1989 for example, less than 32 percent of public school students were low-income. By 2000, the national rate had hit 38 percent. But the most marked rise has been over the last 15 years. Today 51% of public school students are from low-income families.

Think Apple’s $10,000 Watch is Expensive? Here’s How It Stacks Up Next to Luxury Watch Brands

Apple’s announcement last Monday that they are releasing a $10,000 version of their Apple Watch (the ‘Edition’) has the web in a flurry of varied opinion. It might be made from solid 18-karat gold, but how can the tech giant expect to sell an uber-expensive watch that will be obsolete in under 5 years? Worn by anyone without a LOT of disposable income, the Apple Watch Edition’s heart-rate monitor might show a serious spike.

60 Years Ago, We Spent Twice as Much on Food

It’s not uncommon to get sticker shock when you see your total at the grocery store, but this little fact will make you feel much better: 60 years ago, we spent twice as much on food. Using the latest data from the USDA’s long-time tracking of food expenditures, we charted the information going back just over six decades. The trend is obvious. Out of our total disposable income, Americans are spending a much smaller share on food.

Charting the Downs and Ups of US Income Inequality

NPR recently released an interactive chart which clearly demonstrates the growing US income inequality over the last 100 years. But what it shows best is the two major trends the century has followed.

The scatter plot charts average income for the bottom 90% of earners on one axis, and the average income for the top 1% on the other. (For comparison purposes all figures are inflation adjusted to 2012 dollars)

How Much Does It Cost to Live In Each of the World’s Countries?

How much does it cost to live in Sweden? How about Morocco or Japan? You can’t just compare exchange rates to figure that out. You need people on the ground reporting on how much they pay for a loaf of bread, an apartment or a glass of beer in Stockholm, Fez and Tokyo. That’s what Numbeo has been doing for years, creating a cost of living database with a lot of help from people all around the world. Movehub recently took that information and created a fantastic series of maps comparing how expensive it is to live in all the world’s countries. How does yours measure up?

Bridges on Euro Banknotes Were Fictional, But This Dutch Designer Built Them Anyway

In designing the new Euro banknotes released in 2002, Austrian designer Robert Kalina purposely created fictitious bridges to represent architectural styles through European history. It was deemed a good idea to keep things generic and not show favoritism for any member country in the EU’s newly formed Eurozone. Now, Dutch designer Robin Stam has turned that idea on its head.

“The European Bank didn’t want to use real bridges so I thought it would be funny to claim the bridges and make them real

Do Rich People Behave More Unethically Than the Poor?

wealthy fellow

It’s been said again and again through the ages: “these rich people are jerks!” The lower-class people often complain about the “rich snobs,” saying that those wealthier than them are holding them back, that the rich don’t share, etc, etc… but is there any validity behind these complaints? It turns out the answer is “yes”… at least according to many recent studies carried out at the University of California at Berkeley.

Artist Destructs Dollar Bills to Increase Their Value

1 Mark-Wagner-Currency-Collage

Dollar bills, y’all. Some people spend them as soon as they get them; some like to collect as many as they can; some smear dog poop on them and watch from their porch as an unsuspecting victim picks them up, but we prefer the people who cut them up for the sake of art. We’ve seen Scott Campbell transform stacks of money into 3d carvings, Chad Person turned them into military weapons, but these incredible collages by Mark Wagner take the cake. By carefully slicing up dollar bills and rearranging them into beautiful scenes of George Washington as an everyday man, he makes a powerful statement in a culture dominated by money and greed.