Other People’s Money

Who's rich? Who's poor?

  • Share
  • Read Later

Thanks to Occupy Wall Street, everyone’s talking about personal income (but rarely, of course, mentioning their own. Some taboos are hard to break.)

• Over the weekend, the New York Times did a whole series on the “near poor”, a newly defined and hugely growing population that includes Jessie Adams, a floor refinisher who with his wife, a secretary, together earn about $49,000 a year.

•Larry Summers offers three ways to combat rising income inequality. Summers earned $586,996 in his last year at Harvard and was paid $5.2 million from hedge fund D.E. Shaw in 2009.

• Scott Turow gets wonky on the wealth debate with a couple of suggestions of his own, while NYPD cops bar protesters from the entire block where Mayor Bloomberg lives on 79th between Madison and 5th Avenues.