How the Rich Get Richer: Sources

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Increasing worth of the Forbes 400: “The Forbes 400”,, September 20, 2005

Forbes 400 lack of new additions: “Don’t Blink. You’ll Miss the 258th-Richest American,” The New York Times, September 25, 2005; “Income Stable, Poverty Rate Increases, Percentage of Americans Without Health Insurance Unchanged,”, U.S. Census Press Release, August 30, 2005

Forbes 400 gave to Bush: “Bush Wins-Among Rich Listers”,, October 11, 2004

Rising number of American millionaires: “Millionaires Once Again on the Rise”, TNS Financial Services, September 2, 2005

Food stamps: “Food Stamp Program Monthly Data”, USDA Food and Nutrition; “Food Stamp Program FAQs”, USDA Food and Nutrition.

A World of Difference: “Towers Perrin: Managing Global Pay and Benefits,” 2005-2006.

Cost of repealing the estate tax: Stuart Kantor, Urban Institute; “Estimated Budget Effects of the Revenue Provisions Contained in the President’s Fiscal Year 2006 Budget Proposal”, Joint Committee on Taxation, March 9, 2005

Top Colleges and income class: “Socioeconomic Status, Race/Ethnicity and College Admissions,” Anthony Carnevale and Stephen Rose, The New Century Foundation, March 2003.

Bush’s Tax Cuts and 2-child families: “Table T05-0277 Current-Law Distribution of Individual Income and Payroll Tax Burden,” Urban-Brookings Tax Policy Center Microsimulation Model, 2005.

Cost of Harvard, public colleges, iMacs: “America’s Best Colleges 2006: Harvard University At a Glance,” “Tuition Increases Slow at Public Colleges, According to the College Board’s 2005 Reports on College Pricing and Financial Aid,” October 18, 2005; : “iMac G5” .

Donald Trump earns $1.5M an hour: “Donald J. Trump Gets $1.5 Million for Speech: His New Rate is $25,000 a minute to speak — Highest ever paid,” October 19, 2005.

Minimum wage has fallen: “History of Federal Minimum Wage Rates Under Fair Labor Standards Act, 1938-1996”, U.S. Department of Labor.

Minimum wage vs. CEO compensation since 1990: “Executive Excess 2005”, United for a Fair Economy.

Minimum wage earner working full-time makes $10,506: “History of Federal Minimum Wage Rates Under Fair Labor Standards Act, 1938-1996”, U.S. Department of Labor.

Larry Ellison compensation: : “Wikipedia: Larry Ellison”.

Larry Ellison’s $300 million yacht: “The Good Life Aquatic,” Vanity Fair, May 2005.

Wealthiest 20% spend more on entertainment than health care: “Consumer Expenditures in 2003”, U.S. Bureau of Labor Statistics, June 2005.

Average Wal-Mart employee: Dan Fogelman, Wal-Mart spokesman, March 17, 2005; “2005 Federal Poverty Guidelines”, U.S. Department of Health and Human Services.

5 of America’s top ten richest Wal-Mart heirs: “The 400 Richest Americans”, Forbes, September 22, 2005.

A New Gilded Age: Emmanuel Saez, Professor of Economics, UCBerkeley, “Income Inequality in the United States, 1913-1998″ with Thomas Piketty, Quarterly Journal of Economics, 118(1), 2003, 1-39 (Longer updated version, November 2004, Oxford University Press)”

Public companies spend 10%: Bebchuk, Lucian and Yaniv Grinstein. “The Growth of Executive Pay,” 2005.

1,730 corporate board members on other boards: “The Corporate Library”

A round of golf with Tiger Woods: “Round with Tiger fetches $30,100 for charity,”,, June 7, 2004; Al Abrams, Media Director, Buick Open.

Tiger’s made $87 million: “Forbes Top Celebrities”; “On Tour Stats”, Official Site for Tiger Woods.

Boone Pickens and Oklahoma State: “Billionaire gives a big gift but still gets to invest it,” The New York Times, February 24, 2006; “The 2005 Slate 60”,, February 20, 2006.

Boone Pickens and the tax deductibility of his gift: “Billionaire gives a big gift but still gets to invest it,” The New York Times, February 24, 2006

250 companies gave execs personal flights: Strauss, Gary. “The corporate jet: Necessity or ultimate executive toy?” USA Today, April 26, 2005, and “Morgan Stanley Proxy Statement,” February 2006.

Flights 66% more expensive: Yermack, David. “Flights of Fancy: Corporate Jets, CEO Perquisites, and Inferior Shareholder Returns,” March 2005.

Airport screeners for Wall Street execs: “Company offers helicopter flights to JFK gate,” Associated Press, February 8, 2006; Jennifer Marty-Peppin, Transportation Security Administration, Public Affairs Manager.

United Airlines execs get shares: “Gee, bankruptcy never looked so good,” The New York Times, January 15, 2006; Jean Medina, United Airlines, Public Affairs.

United Airlines execs get bonuses: “Gee, bankruptcy never looked so good,” The New York Times, January 15, 2006; Jean Medina, United Airlines Public Affairs.

Robert Miller and Bethlehem Steel: “Whoops! There goes another pension plan,” The New York Times, September 18, 2005.

Robert Miller and Delphi: “Whoops! There goes another pension plan,” The New York Times, September 18, 2005; “Miller says Delphi can no longer afford jobs banks, some plants,” Associated Press, September 24, 2005; “Delphi Corp.’s [sic] files for bankruptcy,” Associated Press, October 9, 2005.

Former Enron directors pay shareholders $13 million settlement: University of California, Office of the President “Press release” and “Former Enron directors, officer agree to pay $168 million to settle class-action fraud suit,” Power Markets Weekly, January 17, 2005.

Poor Americans spend a quarter of income on energy: “FY 2006 Energy Bills Forecast: The Impact on Low- Income Consumers”, Economic Opportunity Studies.

Exxon’s 2005 profit: “ExxonMobil Corporation Estimated Fourth Quarter 2005 Results”, Business Wire, January 30, 2006; “Total GDP 2004”, World Development Indicators database, World Bank.

CEO pay among military contractors: “Executive Excess 2005: Defense Contractors Get More Bucks for the Bang”, United for a Fair Economy, Institute for Policy Studies, August 30, 2005

Brooks’ Bat Mitzvah party: New York Daily News Lloyd Grove, February 28, 2006.

Live 8 concerts: Philadelphia Inquirer June 30, 2005. Nicole Cashman, Cashman and Associates.

Oscar performers and presenters: “Academy Awards Show Presenters and Performers”, Academy of Motion Picture Arts and Sciences; “Oscar Gifts Taxable, I.R.S. Reminds Stars”, The New York Times, March 5, 2006; H&R Block representative, San Francisco.

Pawdicures at Sundance: “The coifed, the primped, and the pampered.”

Madonna’s freebies: Gina Brooke, Artistic Director, shu uemura.

Paris and Elton: “Showbiz Tonight”, CNN Transcripts, October 19, 2005; “Elton Bans Hilton from Future Oscar Parties”, IMDB News, March 13, 2006.

Owen Wilson rented: “A-List Party Rentals,” Radar Magazine, Nov/Dec 2005.


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