CHINA Eight people arrested for demanding party officials reveal their wealth

Lawyers and activists take to the streets with banners and launch online petitions asking that all the members of the Central Committee release a list of their wealth, something that Hu Jintao and Xi Jinping had already requested. Police detain activists for   Original post on asianews.it    Comments on reddit.com   

Oxford college sued over using ‘selection by wealth’ for admissions – Education – The Observer

Student takes St Hugh’s to court after after being rejected for not having access to £21,000 for tuition fees and living costs   Original post on guardian.co.uk    Comments on reddit.com   

The United States of Amway

How to turn your middle class into a pyramid scheme I went to see a comic perform in Grand Rapids a few years ago and he said, “So, this is the tip of the pyramid?” And the crowd sighed out laughter, knowing exactly what he meant. Grand Rapids,…   Original post on eclectablog.com    Comments on reddit.com   

Walmart Heirs Have As Much Wealth As Bottom 40 Percent Of Americans Combined

Last year, Sylvia Allegretto, a labor economist at the Center on Wage and Employment Dynamics, found that as of 2007, the Walton family — heirs to the Walmart fortune — had a net worth equal to that of the bottom 30 percent of Americans. And due to the effects of the Great Recession that ratio [...]   Original post on thinkprogress.org    Comments on reddit.com   

President Obama’s Second Term Will Transform America In Favor Of The Middle Class

Sure, but AFTER 30 million Americans get health insurance, what then? If Mitt Romney and Paul Ryan are elected, they plan to engineer the largest transfer of wealth from the middle class to the rich in American history. Sure George W. Bush cut taxe…   Original post on eclectablog.com    Comments on reddit.com   

Exceptional upward mobility in the U.S. is a myth, international studies show

ANN ARBOR, Mich.–The rhetoric is relentless: America is a place of unparalleled opportunity, where hard work and determination can propel a child out of humble beginnings into the White House,…   Original post on umich.edu    Comments on reddit.com   

The One “Issue” Paul Ryan Brings Up – Eclectablog

Republicans’ new favorite talking point is that by Mitt Romney nominating Paul Ryan to be his running mate it means that it’s more likely we’ll talk about issues. There’s only one issue Paul Ryan brings up. As someone who voted for the Iraq War, the…   Original post on eclectablog.com    Comments on reddit.com   

Wealth doesn’t trickle down – it just floods offshore, new research reveals – Business – The Observer

A far-reaching new study suggests a staggering $21tn in assets has been lost to global tax havens. If taxed, that could have been enough to put parts of Africa back on its feet – and even solve the euro…   Original post on guardian.co.uk    Comments on reddit.com   

Chart: 15 Developed Countries With Higher Median Wealth Than The U.S. – ThinkProgress

According to a report by Credit Suisse, as of last year 15 nations in the Organization for Economic Cooperation and Development had higher median wealth than the United States. As Kenneth Thomas noted at Middle Class Political Economist,   Original post on thinkprogress.org    Comments on digg.com   

Great Recession erased nearly 40% of family wealth – latimes.com

The Great Recession took such a heavy toll on the economy that the typical American family lost nearly 40% of its wealth from 2007 to 2010, shaving the median net worth to a level not seen since the early 1990s.   Original post on latimes.com    Comments on reddit.com