Media ArticlesExcerpts of Key Media Articles in Major Media
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A tremendous number of government and private policies affecting kids are based on one number: 335. That is how many children under 18 have died with a Covid diagnosis code in their medical record, according to the Centers for Disease Control and Prevention. Yet the CDC, which has 21,000 employees, hasn't researched each death to find out whether Covid caused it or if it involved a pre-existing medical condition. Without these data, the CDC Advisory Committee on Immunization Practices decided in May that the benefits of two-dose vaccination outweigh the risks for all kids 12 to 15. I've written hundreds of peer-reviewed medical studies, and I can think of no journal editor who would accept the claim that 335 deaths resulted from a virus without data to indicate if the virus was incidental or causal. Johns Hopkins worked with the nonprofit FAIR Health to analyze approximately 48,000 children under 18 diagnosed with Covid in health-insurance data. Our report found a mortality rate of zero among children without a pre-existing medical condition. The National Education Association has been debating whether to urge schools to require vaccination before returning to school in person. How can they or anyone debate the issue without the right data? Meanwhile ... Alameda County, Calif., reduced its Covid death toll by 25%. after state public-health officials insisted that deaths be attributed to Covid only if the virus was a direct or contributing factor.
Note: Alameda County corrected their COVID death figures, but how many other counties throughout the US did not? If you can't access this article on the WSJ website, go to this webpage. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines from reliable major media sources.
When classrooms in California reopen for the fall term, all 6.2 million public school students will have the option to eat school meals for free, regardless of their family's income. The undertaking ... will be the largest free student lunch program in the country. School officials, lawmakers, anti-hunger organizations and parents are applauding it as a pioneering way to prevent the stigma of accepting free lunches and feed more hungry children. "This is so historic. It's beyond life-changing," said Erin Primer, director of food services for the San Luis Coastal Unified School District on California's central coast. Several U.S. cities including New York, Boston and Chicago already offer free school meals for all. But until recently, statewide universal meal programs were considered too costly and unrealistic. California became the first state to adopt a universal program late last month, and Maine followed shortly after with a similar plan. Like school officials statewide, Primer has countless tales of children who struggled to pay for school meals or were too ashamed to eat for free. There was the child whose mother called Primer, distraught because she made a few hundred dollars too much to qualify; the father who is in the country illegally and feared that filling out the free meal application could get him deported; and constant cases of high schoolers not wanting friends to know they need free food, so they skip eating.
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Human rights activists, journalists and lawyers across the world have been targeted by authoritarian governments using hacking software sold by the Israeli surveillance company NSO Group, according to an investigation into a massive data leak. The investigation by the Guardian and 16 other media organisations suggests widespread and continuing abuse of NSO's hacking spyware, Pegasus. Pegasus is a malware that infects iPhones and Android devices to enable operators of the tool to extract messages, photos and emails, record calls and secretly activate microphones. The leak contains a list of more than 50,000 phone numbers that, it is believed, have been identified as those of people of interest by clients of NSO since 2016. The numbers of more than 180 journalists are listed in the data, including reporters, editors and executives at the Financial Times, CNN, the New York Times, France 24, the Economist, Associated Press and Reuters. The phone number of a freelance Mexican reporter, Cecilio Pineda Birto, was found in the list, apparently of interest to a Mexican client in the weeks leading up to his murder, when his killers were able to locate him at a carwash. He was among at least 25 Mexican journalists apparently selected as candidates for surveillance. The broad array of numbers in the list belonging to people who seemingly have no connection to criminality suggests some NSO clients are breaching their contracts with the company, spying on pro-democracy activists and journalists.
Note: Read more about how NSO Group spyware was used against journalists and activists by the Mexican government. For more along these lines, see concise summaries of deeply revealing news articles on intelligence agency corruption and the disappearance of privacy from reliable major media sources.
Few pause to think that their phones can be transformed into surveillance devices, with someone thousands of miles away silently extracting their messages, photos and location, activating their microphone to record them in real time. Such are the capabilities of Pegasus, the spyware manufactured by NSO Group, the Israeli purveyor of weapons of mass surveillance. The Guardian will be revealing the identities of many innocent people who have been identified as candidates for possible surveillance by NSO clients in a massive leak of data. Without forensics on their devices, we cannot know whether governments successfully targeted these people. But the presence of their names on this list indicates the lengths to which governments may go to spy on critics, rivals and opponents. Journalists across the world were selected as potential targets by these clients prior to a possible hack using NSO surveillance tools. People whose phone numbers appear in the leak ... include lawyers, human rights defenders, religious figures, academics, businesspeople, diplomats, senior government officials and heads of state. One phone that has contained signs of Pegasus activity belonged to our esteemed Mexican colleague Carmen Aristegui, whose number was in the data leak and who was targeted following her exposÄ‚© of a corruption scandal involving her country's former president Enrique PeÄ‚±a Nieto. At least four of her journalist colleagues appear in the leak
Note: For more along these lines, see concise summaries of deeply revealing news articles on intelligence agency corruption and the disappearance of privacy from reliable major media sources.
Johnson & Johnson is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection. During settlement discussions, one of the health-care conglomerate's attorneys has told plaintiffs' lawyers that J&J could pursue the bankruptcy plan, which could result in lower payouts for cases that do not settle beforehand. Plaintiffs' lawyers would initially be unable to stop J&J from taking such a step. J&J faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer. The plaintiffs include women suffering from ovarian cancer and others battling mesothelioma. Should J&J proceed, plaintiffs who have not settled could find themselves in protracted bankruptcy proceedings with a likely much smaller company. Future payouts to plaintiffs would be dependent on how J&J decides to fund the entity housing its talc liabilities. J&J is now considering using Texas's "divisive merger" law, which allows a company to split into at least two entities. For J&J, that could create a new entity housing talc liabilities that would then file for bankruptcy to halt litigation. The maneuver is known among legal experts as a Texas two-step bankruptcy. A 2018 Reuters investigation found J&J knew for decades that asbestos, a known carcinogen, lurked in its Baby Powder and other cosmetic talc products.
Note: Can we trust this company with vaccines? For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.
Last week the hospital bill finally came. The cost of an uncomplicated vaginal birth? $37,617.69. The bulk of the charge was for three nights' "room and board" in a semi-private room (containing two beds separated by a curtain) which was $10,350 a night. Our health insurance covers about $31,000 – leaving us with a balance of around $6,000. Although, of course, that doesn't make the ridiculously high prices OK. We're still covering the costs indirectly via our enormous insurance premiums which, we were recently informed by Oxford Health, part of UnitedHealth Group, are going to go up by 16% next year. The UnitedHealth Group's chief executive made over $50m in salary, bonus and stock option compensation in 2019. It's not just the extortionate prices in America's health system that are problematic. It's the lack of transparency. My partner called our insurance company multiple times before the birth to try to find out how much we would expect to pay. We were told on each occasion that we wouldn't have to pay anything. Which was obviously baloney. America's healthcare system isn't just a nightmare to navigate – it's inefficient and inequitable. The US may spend more on healthcare as a share of the economy than any other developed country, but it also has the highest maternal mortality rate in the developed world and maternal deaths have been increasing since 2000. And Black women are three times more likely to die from a pregnancy-related cause than white women.
Note: For more along these lines, see concise summaries of deeply revealing news articles on health from reliable major media sources.
Wikipedia has been taken over by Left-leaning volunteers and only offers a one-sided version of information, according to the online encyclopedia's co-founder. Larry Sanger, an American philosopher who co-founded the website in 2001, said the online reference bible seemed to assume "that there is only one legitimate defensible version of the truth on any controversial question". Mr Sanger, 53, cited page entries on Joe Biden and his son Hunter as an example. "The Biden article, if you look at it, has very little by way of the concerns that Republicans have had about him," he [said]. "So if you want to have anything remotely resembling the Republican point of view about Biden, you're not going to get it from the article." Wikipedia is thought to be the world's fifth largest website in the world in terms of site visits, with more than six billion people viewing it each month. The website relies on volunteers to edit and contribute to its pages. But Mr Sanger said the website had strayed from its original mission, committing it to "neutrality" and allowing site contributors to have a free exchange of ideas. "Now, especially over the last five years or so, Wikipedia has changed quite a bit," he said. "Now if you [public users] make any edit at all, you will be sternly warned if not just kicked out," he said. Asked if he thought Wikipedia could be trusted to give truthful information, he replied: "Well, it depends on what you think the truth is." He added that the website could be trusted to offer an "establishment" point of view.
Note: For more along these lines, see concise summaries of deeply revealing news articles on media manipulation from reliable sources.
The connection between the CIA and the Finders cult ... would constitute not simply an outlandish and perhaps criminal group purported to be abusing and trafficking children, but one sanctioned by the most powerful government on earth. U.S. Customs documents penned by Special Agent Ramon Martinez [reports that] the CIA stepped in to cover up the criminal activity of the Finders in the initial 1987 investigation. This would link the CIA with evidence of organized child trafficking, child abuse and allegations of ritual abuse and mind control. Martinez reportedly learned of this development from Sgt. Stitcher, the MPD detective who wrote reports indicative of CIA involvement with the Finders. Stitcher passed away from septic shock prior to the 1993 DOJ inquiry into allegations of a CIA coverup of the original investigation. Martinez wrote of his attempts to review evidence collected at Finders properties in Washington, D.C. during the initial 1987 investigation: "[I] attempted to access the evidence collected for a period of approximately two months. I was unsuccessful ... and was informed by Sergeant Stitcher (now deceased) that the Finders was a CIA (Central Intelligence Agency) front gone bad, and that the evidence was unavailable." The leader of the Finders cult was Marion G. Pettie, a former Air Force master sergeant who admitted that his son worked for CIA-front Air America. Former Nebraska State Senator John Decamp, author of "The Franklin Coverup," claimed that the Finders were associated with the CIA and that they were abusing children by means of indoctrination. "I was getting information anonymously," [he said]. "I found out later that it came from CIA people who were concerned. There is enough documentation to show that children, at a fairly tender age, were being used for sexual purposes, to compromise people, and for the "mind control" nonsense."
Note: Read more about the Finders. The CIA's Air America was also involved in illegal drug smuggling operations. In fact, the CIA's inspector general implicated the company in cocaine trafficking. For more along these lines, read our concise summaries of news articles on intelligence agency corruption and mind control.
Local radio personality Ray "Ramblin' Ray" Stevens was driving when he passed 20-year-old Braxton Mayes multiple times, and noticed Mayes was walking for a long period of time. When Stevens reportedly stopped to offer him a ride, he soon learned the story of the former high school football player. Mayes told Stevens that his 2006 GMC truck recently broke down and, in the meantime, he was walking to work each day, a 12-mile journey (24 total) that took three hours each way. Mayes explained to the DJ that he would leave for work at 4 a.m. in order to arrive on time at 7 a.m. "This guy checks all the boxes," Stevens [said]. "He's a good, solid human being. People are having a hard time finding people to work and here's a guy walking three hours one way just because his truck broke down." After hearing his story, Stevens created a GoFundMe page in order to raise funds to fix Mayes' truck. The fundraiser has already earned over $8,000. According to Stevens, any additional money raised past the amount needed to repair the truck will be donated to local Chicago food banks. Mayes [said] that because he was raised with a strong work ethic, he was perfectly fine walking each day, but is grateful for the donations and support he's received. "It brought me to tears," Mayes said. "I didn't know when I would come up with the money to fix it or how many times I would have to walk." Repairs to Mayes' truck will likely be finished soon – and until then, his employer will give him a ride.
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A handful of powerful companies control the majority market share of almost 80% of dozens of grocery items bought regularly by ordinary Americans, new analysis reveals. A joint investigation by the Guardian and Food and Water Watch found that consumer choice is largely an illusion – despite supermarket shelves and fridges brimming with different brands. In fact, a few powerful transnational companies dominate every link of the food supply chain: from seeds and fertilizers to slaughterhouses and supermarkets to cereals and beers. The size, power and profits of these mega companies have expanded thanks to political lobbying and weak regulation which enabled a wave of unchecked mergers and acquisitions. The size and influence of these mega-companies enables them to largely dictate what America's 2 million farmers grow and how much they are paid, as well as what consumers eat and how much our groceries cost. It also means those who harvest, pack and sell us our food have the least power: at least half of the 10 lowest-paid jobs are in the food industry. Farms and meat processing plants are among the most dangerous and exploitative workplaces in the country. Overall, only 15 cents of every dollar we spend in the supermarket goes to farmers. The rest goes to processing and marketing our food. Less competition among agribusinesses means higher prices and fewer choices for consumers. Just four companies – Walmart, Costco, Kroger and Ahold Delhaize – control 65% of the retail market.
Note: For more along these lines, see concise summaries of deeply revealing news articles on food system corruption from reliable major media sources.
As Covid raged, so did the country's other epidemic. Drug overdose deaths rose nearly 30 percent in 2020 to a record 93,000, according to preliminary statistics released Wednesday by the Centers for Disease Control and Prevention. It's the largest single-year increase recorded. The deaths rose in every state but two, South Dakota and New Hampshire, with pronounced increases in the South and West. Several grim records were set: the most drug overdose deaths in a year; the most deaths from opioid overdoses; the most overdose deaths from stimulants like methamphetamine; the most deaths from the deadly class of synthetic opioids known as fentanyls. In recent years, annual drug overdose deaths had already eclipsed the peak yearly deaths from car crashes, gun violence or the AIDS epidemic. The death toll from Covid-19 surpassed 375,000 last year, the largest American mortality event in a century, but drug deaths were experienced disproportionately among the young. In total, the 93,000 deaths cost Americans about 3.5 million years of life, according to a New York Times analysis. By comparison, coronavirus deaths in 2020 were responsible for about 5.5 million years of life. The pandemic itself undoubtedly contributed to the surge in overdose deaths, with disruption to outreach and treatment facilities and increased social isolation. Overdose deaths reached a peak nationally in the spring of 2020, in the midst of the pandemic's most severe period of shutdowns and economic contraction.
Note: This is one of the many, sad but predictable consequences of the lockdown. Note also that the NY Times blames it on the pandemic never once mentioning it was the consequences of the lockdown much more than the pandemic itself that caused these many deaths. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and health from reliable major media sources.
Worsening inequality, as poorer people and nations lose years of gains in the battle against hunger and poverty, is likely to be one of the lasting legacies of the pandemic. New data released by the United Nations ... illustrates the unequal impact as measured by access to a basic human necessity: Food. Global hunger shot up by an estimated 118 million people worldwide in 2020, according to the U.N. Food and Agriculture Organization, jumping to 768 million people – the most going at least as far back as 2006. The number of people living with food insecurity – or those forced to compromise on food quantity or quality – surged by 318 million, to 2.38 billion. In North America and Europe, formal employment, social safety nets and the widespread availability of remote work cushioned the blow. In those parts of the world, the percentage of people living with food insecurity edged up from 7.7 percent to 8.8 percent. But the developing world, home to billions of informal workers and gaps in government assistance, fared far worse. Latin America and the Caribbean saw the biggest one-year spike in food insecurity: a jump of nine percentage points, to 40.9 percent. "Governments need to open their eyes and adjust their thinking in a crisis, and in some cases, like Peru, they just didn't," said Torero of the U.N. Food and Agriculture Organization. "They had the money available to deal with the problem. But they imposed restrictions on movement blindly and did not find a way to help the people who needed it."
Note: The tragic increase of hunger and starvation worldwide is not a result of the pandemic, but rather of the lockdown in response to the pandemic. Why is that not even mentioned in this article? Many millions have died of starvation and suicide as a result of the lockdowns, yet so few care or are even aware of this. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and income inequality from reliable major media sources.
Did you make it to the Allen & Co conference in Sun Valley, Idaho this past week? The investment bank sponsors the annual schmooze-fest and "summer camp for billionaires" for the same reason that companies give away their luxury products in Oscars gift baskets: because if you spoil rich people enough, they may develop sufficiently warm feelings towards you to throw you some business one day. At Sun Valley each year, the billionaires are feted by the mere millionaires; the millionaires drum up enough deals to allow them to buy their third and fourth homes. The Sun Valley conference is primarily known as a place where tech and media moguls gather to do a little fly fishing and strike multibillion-dollar merger deals. More fundamentally, the conference is, like Davos, a mechanism for the concentration of wealth, dressed up as something friendlier. Here, America's wealthiest mega-billionaires gather with the chief executive of America's most powerful companies, the director of the CIA, and America's most worthless pseudo-journalists ... to develop the social and business connections that allow the top 0.00001% of earners to continue to accumulate a share of our nation's wealth that already exceeds the famously cartoonish inequality of the Gilded Age of Rockefeller and Carnegie. We are developing a private class of billionaire kings whose will is omnipotent and untouchable by any democratic force. This is the state of affairs that the Sun Valley conference serves to intensify.
Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality from reliable major media sources.
Hundreds of households in New Mexico and Arizona recently had their medical debts eliminated, thanks to St. Bede's Episcopal Church in Santa Fe. The church worked through a nonprofit organization called RIP Medical Debt that buys up medical debt and then uses donations to pay it off. "The driving force behind this was our pastor, Rev. Catherine Volland," said Peg Maish, a spokeswoman for St. Bede's. "She was really advocating for it. In all, it was about a year and a half in the making, from researching it to making a final decision." In total, 234 households in New Mexico and 548 in Arizona had their medical debt paid off. St. Bede's settled all of the New Mexico debt held by RIP Medical Debt, enabling the church to also reach out to Arizona. St. Bede's paid off medical debt in Arizona areas with a heavy Native American population. Native American areas are often poor and have many healthcare problems. St. Bede's settled all the debt for $15,000, even though the actual debt was $1,380,119. The reason is that RIP Medical Debt purchases the debt for pennies on the dollar. RIP Medical Debt was founded in 2014 by Craig Antico and Jerry Ashton, two former debt collection executives. The nonprofit organization selects families and individuals whose income is no more than twice the federal poverty level and whose debts exceed their assets. RIP sends a letter to each debtor and contacts credit agencies to inform them that the debt has been paid.
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Every so often, Jim Williams wakes up in the middle of the night and lies awake inside his prison cell, thinking about quilt designs. As his fellow inmates at South Central Correctional Center snore and shift in their sleep, Williams mulls over the layout of cloth shapes, rearranging them in his mind. "I'm kind of a perfectionist," he said. "I'll wake up at 2:30 in the morning and think, â€That color really isn't going to work.'" It wasn't always this way. Williams had never touched a sewing machine until last year, when he was recruited to sew face masks for prison inmates and staff during the pandemic. Now he's part of a small group of volunteers at the Licking, Missouri, prison who spend their days making intricately designed quilts for charity. The quilting program offers the men a temporary "escape from the prison world" and a chance to engage with the community, said Joe Satterfield, case manager at South Central. To join the group, an inmate cannot have any recent conduct violations on his record. "You can see a change in their attitude," said Satterfield, who runs the program. "A light flips on like, â€Oh, this is a new avenue. I can actually be a part of something.'" The project hinges on the concept of restorative justice, which emphasizes community-building and rehabilitation over punitive measures. In the sewing room at South Central, members of the close-knit group are working toward a common goal: finishing more than 80 unique quilts for children in the Texas County foster care system.
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The cost of vaccinating the world against COVID-19 could be at least five times cheaper if pharmaceutical companies weren't profiteering from their monopolies on COVID-19 vaccines, campaigners from the People's Vaccine Alliance said today. New analysis by the Alliance shows that the firms Pfizer/BioNTech and Moderna are charging governments as much as $41 billion above the estimated cost of production. Colombia, for example, has potentially overpaid by as much as $375 million for its doses of the Pfizer/BioNTech and Moderna vaccines, in comparison to the estimated cost price. Despite a rapid rise in COVID-19 cases and deaths across the developing world, Pfizer/BioNTech and Moderna have sold over 90 percent of their vaccines so far to rich countries, charging up to 24 times the potential cost of production. Last week Pfizer/BioNTech announced it would licence a South African company to fill and package 100 million doses for use in Africa, but this is a drop in the ocean of need. Neither company have agreed to fully transfer vaccine technology and know-how with any capable producers in developing countries, a move that could increase global supply, drive down prices and save millions of lives. Analysis of production techniques for the leading mRNA type vaccines produced by Pfizer/BioNTech and Moderna â₏•which were only developed thanks to public funding to the tune of $8.3 billionâ₏• suggest these vaccines could be made for as little as $1.20 a dose.
Note: For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma profiteering from reliable major media sources.
In the past two years, a new drug policy reform movement called Decriminalize Nature has persuaded local governments in a half dozen municipalities, including Washington, D.C., to decriminalize "plant medicines" such as psilocybin, ayahuasca, iboga and the cactuses that produce mescaline. Last month, the California State Senate passed a bill that would make legal the personal possession, use and "social sharing" of psychedelics, including LSD and MDMA, a.k.a. Ecstasy or Molly. Political opposition to all these measures has been notably thin. Neither party, it seems, has the stomach for persisting in a war that has achieved so little while doing so much damage, especially to communities of color and our civil liberties. But while we can now begin to glimpse an end to the drug war, it is much harder to envision what the drug peace will look like. How will we fold these powerful substances into our society and our lives so as to minimize their risks and use them most constructively? In the case of psychedelics, decriminalizing these powerful compounds is only the first step in a process of figuring out how best to safely weave their use into our society. The main model we have for resocializing a formerly illicit drug is the legalization of cannabis, now the new normal in 18 states. The use of psychedelics by Indigenous peoples ... suggests a model we would do well to keep in mind as we figure out how best to handle these substances.
Note: For more along these lines, see concise summaries of deeply revealing news articles on mind altering drugs from reliable major media sources.
Quanesha Burks ordered medium fries with no salt and a side of sweet and sour sauce at McDonald's. She doesn't do this often, but the day after making her first Olympic team, she decided to treat herself. "I just ate it with so much gratitude in my mouth," Burks says. Before Burks was a full-time professional long jumper, her only previous job experience was working at the McDonald's in Hartselle, Ala., as a 17-year-old. The town of 14,000 people was also where she and her siblings were raised by her grandparents. She remembers the early years as a struggle, watching her family live paycheck to paycheck. While at Hartselle High School, Burks quickly took notice of her classmates using sports as a way to get college scholarships. When track season rolled around ... she finished third at the 2012 USATF National Junior Olympics. "I remember looking up the requirements to earn a full scholarship and I wrote those goals down," Burks says. "I jumped 20 feet and that's when everything changed." At Alabama, she became the first in her family to attend college and went on to have a successful career by setting school records, earning All-America honors and winning the 2015 NCAA outdoor and 2016 NCAA indoor long jump titles."It felt like all the odds were against me," Burks says. "I was facing so much, but I kept going back to when I worked at McDonald's. I had my goals set and I knew I could do it."
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More than half of Dutch scientists regularly engage in questionable research practices, such as hiding flaws in their research design or selectively citing literature, according to a new study. And one in 12 admitted to committing a more serious form of research misconduct within the past 3 years: the fabrication or falsification of research results. This rate of 8% for outright fraud was more than double that reported in previous studies. Organizers of the Dutch National Survey on Research Integrity, the largest of its kind to date, took special precautions to guarantee the anonymity of respondents for these sensitive questions, says Gowri Gopalakrishna, the survey's leader and an epidemiologist at Amsterdam University Medical Center (AUMC). "That method increases the honesty of the answers," she says. The survey found Ph.D. students had the hardest time meeting the standards of responsible research. Some 53% of them admitted to frequently engaging in one of the 11 questionable research behaviors within the past 3 years, compared to 49% of associate and full professors. To look for possible explanations of participants' behavior, the study team also asked about their professional experiences–whether they felt workplace pressure or peer pressure, for instance. The team found that pressure to publish was most strongly correlated with questionable research behavior, and that perceptions of the chance of being caught by peer reviewers was the biggest factor in inhibiting misconduct.
Note: A former editor of The Lancet has suggested that up to half of all scientific literature may be untrue. For more along these lines, see concise summaries of deeply revealing news articles on corruption in science from reliable major media sources.
The wealth of the richest 0.00001% of the U.S. now exceeds that of the prior historical peak, which occurred in the Gilded Age, according to economist Gabriel Zucman. In the late 19th century, the U.S. experienced rapid industrialization and economic growth, creating an inordinate amount of wealth for a handful of families. This era was also known for its severe inequality; and some have called the period that began around 1990 a "Second Gilded Age." Back then, just four families represented the richest 0.00001% – today's equivalent is 18 families. Zucman, a French economist whose doctoral advisor was the historical economist Thomas Piketty, author of bestseller "Capital in the Twenty-First Century," released data this week showing that as of July 1, the top 0.00001% richest people in the U.S. held 1.35% of the country's total wealth. These 18 families include those of Jeff Bezos, Mark Zuckerberg and Bill Gates. The richest 0.01% – around 18,000 U.S. families – have also surpassed the wealth levels reached in the Gilded Age. These families hold 10% of the country's wealth today, Zucman wrote. By comparison, in 1913, the top 0.01% held 9% of U.S. wealth, and a mere 2% in the late 1970s. The increasing concentration of wealth comes as the ultra-rich face more scrutiny for the money they're not paying in taxes. Recent reports have highlighted that because so much of their wealth consists of unrealized gains in stocks and real estate, they pay little or nothing in income tax.
Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality from reliable major media sources.
Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.