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The wealthiest one percent in President Joe Biden’s America set a record with a net worth of $44 trillion at the end of the fourth quarter, U.S. Federal Reserve data revealed. Biden casts his administration as opposed to the widening wealth gap, even though a majority of Americans still live paycheck to paycheck, a recent LendingClub study found, raising concerns that so-called “Bidenomics” failed to help average Americans. A majority of voters are “worse off financially” under Biden, up 25 points since he assumed office in 2021, a Fox News poll found Wednesday.

A group of progressive lawmakers is renewing its push to increase taxes on the country’s wealthiest people. The proposal, reintroduced Tuesday, would create a 2 percent tax on households that are worth more than $50 million and a 3 percent tax on households worth more than $1 billion. It would affect the wealthiest 100,000 households in the country, according to the bill’s sponsor, Sen. Elizabeth Warren (D-Mass.), USA Today first reported. “Today I’m re-introducing my Ultra-Millionaires Tax so that when someone makes it really big—earning over $50 million—they have to chip in 2 cents on the next dollar,” Warren said...

The IRS announced it will start targeting thousands of uber-wealthy tax cheats and make them poney up hundreds of millions of dollars in the coming months. The federal agency said it plans to aggressively hunt down 1,600 millionaires and 75 large business partnerships that routinely “cut corners” on their taxes.

One of Atlanta’s wealthiest neighborhoods is one step closer to seceding from the city, as some of its well-heeled residents have become increasingly fed up with elected officials’ failure to tackle rising crime. Georgia’s Republican-controlled state Senate and Local Government Operations Committee passed two bills Monday that would allow a public referendum on the proposed City of Buckhead, the Atlanta Journal-Constitution reported. Located in the 24 square miles of the southern capital’s northside, Buckhead is one of Atlanta’s most affluent enclaves. With a median household income of $109,774 compared with the rest of the city’s $68,806, the neighborhood is known...

Oxfam study also finds richest one per cent on the planet is now worth more than the rest of everyone else put together The world's richest 62 people are worth as much as the planet's poorest 3.6 billion put together, according to new research. Oxfam study also finds richest one per cent on the planet is now worth more than the rest of everyone else put together And the richest one per cent on the planet is now worth more than the rest of everyone else put together. The report - highlighting "runaway inequality" - was published by Oxfam ahead...

Five of the Top 10 wealthiest counties in the United States are in the Washington, D.C., metropolitan area--within commuting distance for the thousands of federal government workers, lobbyists, lawyers, defense contractors, think-tank experts and political operatives who work in and around the nation’s capital. The five counties have median household incomes that are roughly double the national median of $50,502. Loudoun County, Va., which lies to the north and west of the District of Columbia, topped the list in 2011, with a median family income of $119,525, according to the U.S. Census Bureau’s Small Area Income and Poverty Estimates (SAIPE),...

Green Township is being singled out because federal investigators believe the housing authority blocked new public housing there for at least the past two years. More public housing for the poor is likely headed to Green Township and some other communities as part of a deal to resolve a discrimination complaint against Cincinnati's housing authority.

WASHINGTON (AP) -- The Internal Revenue Service is making it a bit riskier to cheat on your taxes. The tax agency increased the number of returns it audited by nearly 11 percent this year, statistics released Wednesday show. Wealthy taxpayers and big businesses were most likely to be targeted. The IRS also stepped up audits of charities and other tax-exempt organizations.

September 3, 2009 Five Californians Among The Wealthiest In Congress California has two of the three wealthiest members of Congress, but neither of them top Massachusetts Democratic Sen. John Kerry, with a personal fortune of at least $167.8 million. That's according to The Hill, a Washington newspaper that today released its annual list of the 50 wealthiest members of Congress. The second wealthiest member is California Republican Rep. Darrell Issa, with holdings worth at least $164.7 million. The third wealthiest member is California Democratic Rep. Jane Harman, with at least $112.2 million to her name. Three other Californians cracked the...

Invest in the poor, says world's third wealthiest man By James Hider in Mexico City (Filed: 11/06/2006) The third richest man in the world has stunned his Mexican countrymen by backing the wave of Left-wing sentiment that is sweeping Latin America. The portly and bearded Carlos Slim Helu, 66, is a widower. His wife, Soumaya, died in 2000. He has a personal fortune of more than $30 billion (£16 billion), is forging ties with the Left-leaning governments which have used the gulf between rich and poor to ride to power. Drawing on the resources of his telecom, retail and finance...

<p>WASHINGTON - The House voted Wednesday to permanently end taxes on inherited estates, rejecting a Democratic effort to retain the tax for the country's wealthiest families.</p> <p>"What we're talking about here is fairness to families," said House Speaker Dennis Hastert, R-Ill. "They ought to have the comfort and relief to pass that business on to the next generation, to their children and to their grandchildren."</p>

Sens. Kerry, Edwards among wealthiest presidential contenders By ALAN FRAM : Associated Press Writer Jun 14, 2002 : 5:53 pm ET WASHINGTON -- Sens. John Kerry of Massachusetts and John Edwards of North Carolina appear to be the richest of the potential Democratic presidential contenders, according to financial reports released Friday by members of Congress. Senate Majority Leader Tom Daschle and House Minority Leader Dick Gephardt have the highest-profile jobs but less wealth. Kerry lists more than 40 pages of assets, mostly in the name of his wife, Teresa Heinz, the Heinz food heiress whose wealth has been estimated beyond...