Latest news with #incomeInequality
Wall Street Journal
07-07-2025
- Business
- Wall Street Journal
The Mamdani Millionaires Supporting the Socialist for NYC Mayor
In early September, Kathy Wylde, one of New York's undisputed power brokers, met with Zohran Mamdani, then one of the longest of long-shot candidates in the New York City mayor's race. In a coffee shop on the ground floor of 85 Broad St. in lower Manhattan, once Goldman Sachs's headquarters, the democratic socialist made the case that while he would be focused on income inequality, he was also open to working with the city's business elite.
Yahoo
29-06-2025
- Politics
- Yahoo
"I Saw Him Say This On CNN And My Jaw Dropped" — People Are Applauding Zohran Mamdani's Unapologetic Response To Being Asked About His Stance On Capitalism
This week, 33-year-old Zohran Mamdani — a self-proclaimed democratic socialist — won the New York City Mayoral Democratic Primary, beating out former New York Governor Andrew Cuomo. Since his victory, Mamdani has faced backlash from both Republicans and Democrats in his own party. President Donald Trump called his victory a "terrible thing for our country," while Democratic lawmaker Laura Gillen called Mamdani the "absolute wrong choice for New York." Some of Mamdani's political stances as a democratic socialist have been questioned, and in a now-viral clip from a recent interview with CNN, he was put on the spot regarding his beliefs. "Do you like capitalism?" the host questioned. "No. I have many critiques of capitalism." Related: "Soft Launching A Fascist Dictatorship Is Insane" — People Are Floored By Donald Trump Selling "Trump 2028" Hats On His Official Store Website "I think ultimately, the definition for me, of why I call myself a democratic socialist, is the words of Dr. King decades ago. He said, 'Call it democracy or call it democratic socialism; there must be a better distribution of wealth for all of God's children in this country.'" "And that's what I'm focused on, is dignity and taking on income inequality." Related: Hillary Clinton Just Hit On One Of Donald Trump's Biggest Insecurities With Three Words In response to the clip, many people online have praised Mamdani for being willing to say something so controversial in American politics. "Thank god we have a politician who is finally brave enough to say that yeah capitalism does fucking suck actually," one person wrote in response to the clip. "I saw him say this on CNN and my jaw dropped. They straight up asked him if he 'likes capitalism' and he said 'no.' And I don't think that's gonna be a problem for him! Watershed moment," another person agreed. "One of my favorite things that Zohran does is that he has a quote for everything. A lot of times, they're from people like Mandela and MLK, figures whose progressive ideals often get downplayed. Try to critique this take and now you look like an anti-MLK asshole. Good stuff,' this person wrote. And finally, this person said: "Zohran is so skilled at flipping any gotcha question around to make it look like the person asking it is insane." What are your thoughts? Let us know in the comments below. Also in In the News: People Are Roasting "MAGA Makeup" On TikTok, And It Might Be The Shadiest Thing I've Seen All Year Also in In the News: Donald Trump And Tucker Carlson Are Feuding, And Today It Escalated Even More Also in In the News: Donald Trump Supporters Are Waking Up To The Reality Of Their Ballot Choices, And The Stories Have My Jaw On The Floor
Yahoo
28-06-2025
- Politics
- Yahoo
Zohran Mamdani's Unapologetic Response To Being Asked If He "Likes" Capitalism Is Going Viral
This week, 33-year-old Zohran Mamdani — a self-proclaimed democratic socialist — won the New York City Mayoral Democratic Primary, beating out former New York Governor Andrew Cuomo. Since his victory, Mamdani has faced backlash from both Republicans and Democrats in his own party. President Donald Trump called his victory a "terrible thing for our country," while Democratic lawmaker Laura Gillen called Mamdani the "absolute wrong choice for New York." Some of Mamdani's political stances as a democratic socialist have been questioned, and in a now-viral clip from a recent interview with CNN, he was put on the spot regarding his beliefs. "Do you like capitalism?" the host questioned. "No. I have many critiques of capitalism." Related: Hillary Clinton Just Hit On One Of Donald Trump's Biggest Insecurities With Three Words "I think ultimately, the definition for me, of why I call myself a democratic socialist, is the words of Dr. King decades ago. He said, 'Call it democracy or call it democratic socialism; there must be a better distribution of wealth for all of God's children in this country.'" "And that's what I'm focused on, is dignity and taking on income inequality." Related: A Clip Of Donald Trump Getting Angry After Being Fact-Checked Is Going Mega Viral, And It Sums Up His Entire Presidency In A Nutshell In response to the clip, many people online have praised Mamdani for being willing to say something so controversial in American politics. "Thank god we have a politician who is finally brave enough to say that yeah capitalism does fucking suck actually," one person wrote in response to the clip. "I saw him say this on CNN and my jaw dropped. They straight up asked him if he 'likes capitalism' and he said 'no.' And I don't think that's gonna be a problem for him! Watershed moment," another person agreed. "One of my favorite things that Zohran does is that he has a quote for everything. A lot of times, they're from people like Mandela and MLK, figures whose progressive ideals often get downplayed. Try to critique this take and now you look like an anti-MLK asshole. Good stuff,' this person wrote. And finally, this person said: "Zohran is so skilled at flipping any gotcha question around to make it look like the person asking it is insane." What are your thoughts? Let us know in the comments below. Also in In the News: People Are Roasting "MAGA Makeup" On TikTok, And It Might Be The Shadiest Thing I've Seen All Year Also in In the News: Donald Trump And Tucker Carlson Are Feuding, And Today It Escalated Even More Also in In the News: Donald Trump Supporters Are Waking Up To The Reality Of Their Ballot Choices, And The Stories Have My Jaw On The Floor
Forbes
28-06-2025
- Business
- Forbes
What Being Wealthy Means In Brazil
Rio de Janeiro, Brazil, and Christ the Redeemer at sunrise. getty Who wouldn't want to head to a place that Lonely Planet describes as "one of the world's most captivating places.... a country of powdery white-sand beaches, verdant rainforests and wild, rhythm-filled metropolises"? But what does being wealthy in Brazil mean? From average salaries and cost of living to net worth and visa options for digital nomads, understanding Brazil's economic landscape can help you decide if this South American colossus is the right place for your next adventure. From the Amazon rainforest to the iconic beaches of Rio de Janeiro, Brazil offers a kaleidoscope of experiences—including one of the modern world's wonders, Christ the Redeemer, an Art Deco statue of Jesus designed by French-Polish sculptor Paul Landowski. What's more, from João Gilberto and Gilberto Gil to the bossa nova and from the modernist painter Tarsila do Amaral to street artists Otavio Pandolfo and Gustavo Pandolfo, Brazil's culture is as vast as its landscapes and regions. According to the Organisation for Economic Co-operation and Development (OECD), the average household net-adjusted disposable income per capita in Brazil is approximately $12,924 per year. This is significantly lower than the OECD average of $30,490 and far below the U.S. average of $51,147. However, income inequality remains a significant challenge, and salaries can vary significantly between regions. Since January 1, 2025, Brazil's minimum wage has been R$ 1,518 per month, which translates to approximately $274 per month today, highlighting the significant difference between those earning the minimum wage and the average. Being Wealthy In Brazil—Brazil's Cost Of Living As the fifth-largest country in the world, after Russia, China, Canada, and the U.S., and because the country occupies half the landmass of the continental South American region, Brazil's economy is the largest in South America. It is the world's largest exporter of soybeans, raw sugar, and coffee, but its wealth distribution is highly concentrated. As a consequence, Brazil has the highest income inequality in the region, with average wealth falling near the middle of the pack. The cost of living in Brazil is relatively low compared to the United States, but it varies significantly depending on the city. According to Numbeo, the monthly living costs in Brazil are much lower than in the U.S., the U.K., or many countries across Europe. The cost for a single person per month, not including rent, is as follows: Switzerland: $1,659 France: $1,200 U.S.: $1,166 Germany: $1,139 Ireland: $1,112 U.K.: $1,095 Canada: $1023 Japan: $927 Italy: $905 Latvia: $874 Greece: $832 Malta: $801 Spain: $731 Thailand: $650 Mexico: $637 Portugal: $592 Philippines: $573 Brazil: $466 In comparison, the cost of living in Brazil is roughly half that of the U.K., and when rent is considered, the cost of living is even lower. Rent is approximately 75% less in Brazil than it is in the U.K. Comparing Brazil to the U.S., everything is more expensive in the U.S.—the cost of living is 127% and rent 177% higher. Rent can be up to 400% higher than in parts of Brazil; restaurants are 175% higher, and groceries are 146% more expensive than in the U.S. Being Wealthy In Brazil—The Top 10% And Average Net Worth In Brazil, the household net wealth is considerably lower than the OECD average of $323,960. That combines the total value of a household's financial and non-financial assets, such as money or shares held in bank accounts, the principal residence, and other similar items. In Brazil, the average household net wealth is $95,092. In the U.S., the average household net worth is $684,500. Brazil's wealth distribution is highly unequal, as is its salary. According to Statista, in 2023, the top 10% of earners in Brazil earned an average of $1,363 per month before taxes. That's more than 12 times the average income of the bottom 50% of the population. In Brazil, 83% of people say they know someone they can turn to in time of need, compared to 94% in the U.S. When asked to rate their general satisfaction with life on a scale from 0 to 10, Brazilians gave it a 6.1 grade on average. In contrast, Americans rated their general life satisfaction at 7. The OECD average is 6.7. Being Wealthy In Brazil—Getting A Golden Visa Or A Digital Nomad Visa Since 2022, Brazil has offered a visa for digital nomads, requiring freelancers to earn at least $1,500 per month to qualify or prove that they have at least $18,000 in a bank account. It is valid for one year and can be renewed once. They must be working for a foreign employer (with a work contract) or own a company with clients based abroad. For those with a high net worth seeking a more permanent solution, Brazil offers a visa for individuals who invest a minimum of $140,000 in property or businesses in various regions around the country. Brazil's golden visa grants temporary residence with a path to nationality within four years, allows dual citizenship, and requires holders to spend 14 days in the country every two years. Please note that as of April 2025, Brazil has reinstated the visa requirement for all U.S. visitors, regardless of the duration of their stay—an e-visa is also available. Being wealthy in Brazil is about more than just financial stability—it's about embracing a lifestyle rich in culture and natural beauty. It offers a golden visa opportunity and a digital nomad visa and an accessible cost of living compared to the U.S., making it more attractive than ever to visit. MORE FROM FORBES Forbes Portugal Golden Visa: Government Plans To Enhance Incentives By Alex Ledsom Forbes The Five Safest Countries In The World, Per 2025 Global Peace Index By Alex Ledsom Forbes What It Means To Be Wealthy In The Philippines By Alex Ledsom
CBC
27-06-2025
- Entertainment
- CBC
Bezos-Sanchez wedding draws A-list celebs, angry protesters
A-list celebrities including Oprah Winfrey, Mick Jagger and Leonardo DiCaprio are in Venice for the wedding of Amazon billionaire Jeff Bezos and Lauren Sanchez. The massive event has also drawn protesters, angry over the income inequality they say Bezos exemplifies.
