The gap between the ultra rich and the middle class and poor is enormous.
The move follows a call by US billionaire investor Warren Buffett for higher taxes on the American ultra-rich.
Should we conclude that the ultra-rich are no longer getting rich at a rate faster than the rest of us?
As for Thailand, its ultra-rich clique clocks in at 65 years.
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It turns out that thanks to the "2 and 20" formula, hedge fund management is rapidly becoming the best way to become ultra-rich in America.
First he made the Tesla roadster, an eco-friendly electric car for the ultra-rich speed-freak, then he set to work as CEO of a private space company.
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Welcome to the world's newest Monaco, a haven for the ultra-rich in what until recently was mocked as one of the most straight-laced, boring cities in the world.
Hostility toward the President is particularly strident among the ultra-rich.
Nor are household surveys good at capturing inequality at the very top, not least because it is all but impossible to get the ultra-rich to take part in them.
For the ultra-rich, the exemption amount is relatively trivial, but a reduction in the rate from the scheduled 55% to the proposed 35% level is a big win for the wealthy.
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During the 1996 New Hampshire GOP primary, Romney, a private citizen at the time, paid for an advertisement criticizing Steve Forbes' signature flat tax on the grounds that it was a giveaway to the ultra-rich.
The bright lights of New York and London will lure the world's wealthy until at least 2023, the report shows, but Asia and Latin America will spawn the highest number of ultra-rich individuals over the next decade.
But what really checks all the right boxes for many of the world's ultra-rich is Singapore's obsession with order, predictability and control, all of which give comfort to individuals whose fortunes have recently gone down the drain in many parts of the world.
They are expressing grievances not only against the banks but more importantly against the blatant income inequality in the U.S., with the 1% ultra-rich paying less of their fair share in taxes while the downtrodden low-income masses bear more of the burden, even as massive unemployment has made their lives more unbearable.
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Recently, I read an awesome book called "Finding Ultra" by author Rich Roll.
And like Palo Alto, an increasing number of rich Americans have jumped into the ultra luxury market with similar investing goals, particularly Northeasterners lured by the lack of state income tax.
It is the country's reputation for ultra-secrecy that has kept the super-rich funneling their cash through it to other tax havens like Switzerland, where they can make their money grow in large banks.
The rich, in other words, are the guys who can get money at ultra-low interest rates from the Fed (directly or indirectly) and use it to speculate on say, cotton (up almost 100% this year) or Chinese stocks.
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