Billionaires' Index Created By Bloomberg

International financial news giant Bloomberg has just started the Bloomberg's Billionaires Index to measure the changes in daily wealth of the world's wealthiest individuals.  The firm's founder, current New York City Mayor Michael Bloomberg, is not included on the list.  Carlos Slim, the Mexican telecommunications kingpin, heads the list as the world's richest man at $68.5 billion.  Bill Gates, founder of Microsoft, ranked second at $62.4 billion.  This level of wealth means that either of them could lose hundreds of millions of dollars on a given day and hardly feel it.  Warren Buffet ranks third at $43.8 billion.  Meanwhile, 90% of all Americans would probably be content to earn 0.01-0.02% of this amount of wealth over the course of their entire lives.

http://www.washingtonpost.com/business/economy/bloombergs-billionaires-index-a-daily-measure-of-the-worlds-wealthiest-people/2012/03/05/gIQADpansR_story.html;

http://www.bloomberg.com/news/2012-03-05/slim-beats-gates-in-global-daily-ranking-of-billionaires.html

Romney: My Tax Rate is Lower Than Most Americans (for 1/17/12)

Mitt Romney says he pays about 15% taxes on his income. The investments he previously made comprise much of his yearly income over the past decade. He also gets income from his book and giving speeches. Noted investor Warren Buffett has railed against the 15% rate for being lower than average Americans and wants Congress to stop favoring the wealthy. For the year ending February 2011, Romney received over $300,000 for giving speeches. This is not much for him, which speaks to his immense wealth. Tax rates for dividends and capitol gains are only 15%. Democrats do not like seeing people who teach, keep our streets safe, or do hard, physical labor pay higher income tax rates than multi-millionaires like Romney. Even Newt Gingrich wants Romney to make his tax returns public. This should spur tax reform to make the Top 1% pay higher minimum taxes. http://www.cbsnews.com/8301-503544_162-57360230-503544/romney-admits-he-pays-lower-tax-rate-than-most-americans/