Press Play with Madeleine Brand
The Middle Class Is Shrinking While the Rich Stay Rich
All three presidential candidates want to eliminate a tax loophole that helps very rich investment fund managers stay rich. Meanwhile, in nearly 9 out of 10 U.S. cities, the middle class is still shrinking.
By Madeleine Brand • • 50m ListenWhile the average hedge fund lost money for investors last year, the top 25 American hedge fund managers still raked in $13 billion. One reason very wealthy investment fund managers remain very wealthy is what’s called the carried interest tax loophole and all three presidential candidates want to eliminate it. And, while a small number of people are getting even more wealthy, the Pew Research Center has confirmed yet again that the American middle class is shrinking.
In this episode
5 storiesWhy Hasn’t the Carried Interest Tax Loophole Been Eliminated
The average hedge fund lost money for investors last year, but top 25 American hedge fund managers raked in $13 billion. That’s more than the entire economies of many countries.
Read the story9 minThe Middle Class Shrinks in 9 out of 10 US Cities
While a small number of people are getting even more wealthy, the Pew Research Center has confirmed yet again that the American middle class is shrinking. According to Pew's recent analysis of government data, from 2000 to 2014, the share of adults living in middle-income households fell in 203 of the 229 U.S. metropolitan areas examined.
Read the story8 minThe Band YACHT's Internet Hoax and Other Web News
The Los Angeles-based band Yacht created a stolen sex tape hoax this week to promote their new video and it did not end well for them. Actual victims of revenge porn were livid, and the band has apologized. We’ll talk about that in this week’s web roundup.
Read the story9 minChew Fox, Boomer the Dog and other ‘Fursonas’ Featured in New Doc
There are lot of interesting ways that people like to spend their free time, from bodybuilding together to reenacting the Civil War together to playing fantasy sports. Then there are furries, a particular kind of fandom subculture that involves dressing up like anthropomorphized animals.
Read the story12 minWill the Oscars Be Less White Next Year?
The embarrassment of #OscarsSoWhite has studios scrambling to avoid a repeat next year. More than a dozen films starring black actors, by black filmmakers, and on black issues are set for release before the end of this year, and the studios backing them are hoping they become Academy Award contenders.
Read the story8 min
