The 1% May Be Richer Than You Think, Research Shows

[doxydad]

The 1 percent is literally rich beyond measure, depriving nations of billions in tax revenue and obscuring shifts in global inequality.

Research conducted separately by European Central Bank economist Philip Vermeulen and London School of Economics’ Gabriel Zucman show the wealth of the super-affluent -- hidden by tax shelters and nonresponse to questionnaires -- is undercounted. Correcting for similar lapses in income data almost erases progress made from 1988 to 2008 in narrowing the gap between the world’s rich and poor, World Bank research found.

“We always suspected there was some low-balling of the top 1 percent,” said Joseph Stiglitz, a Nobel-prize winning economist and author of “The Price of Inequality. “There’s a growing sense that our system is rigged and unfair.”

http://www.bloomberg.com/news/2014-08-06/the-1-may-be-richer-than-you-think-research-shows.html

"Let them eat cake..."

[liberal N proud]

1. They still don't have enough

They want it all and will not stop until they do.

[rock]

2. All is not enough

"When Alexander saw the breadth of his domain, he wept for there were no more worlds to conquer." Or so it's reputed.