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Pop Culture

A 'Daily Show' correspondent asks a millionaire about inequality and gets an unexpected response.

Wealth inequality has never been funnier.

economics, poverty, The Daily Show

This could be the guest house.

This article originally appeared on May 23, 2015


Inequality has gotten worse than you think.

An investigation by Hasan Minhaj of "The Daily Show" shows that the problem isn't just your classic case of "the rich get richer and the poor get poorer."


As much as we hear about wealth inequality these days, one disparity remains mostly ignored: the gap between the wealthy and the ridiculously wealthy.

Minhaj spoke to Richard Reeves, an economist with the Brookings Institute, who painted a dark picture:

wealth, comedy, Hasan Minhaj

Wealth inequality on the rise.

All GIFs via Comedy Central.

The study Reeves refers to points to the growing wealth of the top 10th of the top 1%:

"The rise of wealth inequality is almost entirely due to the rise of the top 0.1% wealth share, from 7% in 1979 to 22% in 2012 — a level almost as high as in 1929. The bottom 90% wealth share first increased up to the mid-1980s and then steadily declined."

And no one's paid any attention.

Between the cries of the 45.3 million people in poverty and a dwindling middle class inevery state, the voice of the average millionaire is all but drowned out.

the one percent, inequality, investment

Millionaires unconcerned with financial disparity.

All GIFs via Comedy Central.

But not all millionaires are worried about growing inequality in the top 1%.

In his search for a concerned millionaire, Minhaj met Morris Pearl, a retired investment banking director and member of an organization called The Patriotic Millionaires. Minhaj was baffled by what Pearl had to say:

resources, rich, Ronald Reagan

Investment banking pays well.

All GIFs via Comedy Central.

What about trickle-down economics?

Trickle-down theory was popularized under Ronald Reagan's presidency. The idea was that clearing a path for the rich to make more money would spur more private investment, which would lead to more jobs and higher wages for all workers.

tax breaks, income, classism

Attempting the preach the reverse.

All GIFs via Comedy Central.

Reagan put trickle-down theory into practice in two basic ways: by lowering taxes for the wealthy and by freezing wages for the poor.

In 1981, he cut the top marginal income tax rate — which only applies to the highest-income households — from 70% to 50%. Then in 1986, he more than doubled-down by slashing the rate to 28%. (The current rate is 39.6%.) And under Reagan's leadership, the minimum wage was frozen, even as costs of living were rising.

Pearl and other so-called Patriotic Millionaires think top one-percenters like themselves should pay more taxes.

trickle-down theory, financial institutions, comedy show

Making rich people richer.

All GIFs via Comedy Central.

Not only that, they believe raising the minimum wage is critical to reducing inequality.

OK, maybe not everyone — including millionaires — are convinced that giving more money to the rich will fix the economy. So why do our policies do just the opposite?

Our home, from space.

Sixty-one years ago, Yuri Gagarin became the first human to make it into space and probably the first to experience what scientists now call the "overview effect." This change occurs when people see the world from far above and notice that it’s a place where “borders are invisible, where racial, religious and economic strife are nowhere to be seen.”

The overview effect makes man’s squabbles with one another seem incredibly petty and presents the planet as it truly is, one interconnected organism.

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Health

Here’s how we can use the power of awe to make our lives more fulfilling

Being amazed by things outside ourselves is tremendous for our mental health.

A young man looking into the sky

The exhilaration of a rock concert. The feeling of deep serenity you experience during a religious ceremony. That sense of connectedness you get while walking through a dense forest. The lightness that flows through your body while dancing and the dissolution of the ego you experience on psychedelics. These are all experiences that give us the feeling of awe.

Most of us love having at least a few of these experiences and believe they help us grow. But now, a team of psychologists has explained why cultivating a sense of awe can benefit our minds and bodies and how we can create these experiences ourselves.

Maria Monroy and Dacher Keltner posit that a sense of awe can help solve the crises of individualism, excessive self-focus, loneliness and a culture of cynicism, and can even improve our physical health. They explain it in a research article titled “Awe as a Pathway to Mental and Physical Health.”

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How bizarre, how bizarre.

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However, when one Airbnb host recently discovered a guest had—for some strange reason—stolen one of her paintings, then replaced it with a completely different painting, she decided to make the best out of a very uncool situation by sharing the story on TikTok.

As a result, viewers got to witness an continuously unraveling, truly bizarre modern-day art heist.

Okay, let’s get into it.

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Pop Culture

Woman flawlessly breaks down how luxury bags—and other designer brands—keep people 'poor'

"They're targeting the people who want to look rich—middle and lower class folks who don't have a lot of money or savings. That is the bread and butter of designer brands."

Cara Nicole/Youtube

Not worth it.

It feels safe to say that we are all hoping to be more mindful about how we spend our money these days, whether it’s to be kinder to the environment, align better with our values, improve our finances or simply exercise free will against the siren call of consumerism.

That’s why this video essay created by Cara Nicole (who gives all kinds of financials and sustainability education on her Youtube channel) feels so timely.

In just under twenty minutes, Nicole astutely breaks down how luxury brands like Hermes, Louis Vuitton and Rolex create the fake illusion of wealth through “manufactured exclusivity” and getting free marketing from celebrities and influencers—who often don’t even pay for the products themselves. Meanwhile, most real rich people wouldn’t be caught dead in the flashy brands, and in reality consider them "overrated." But still, the illusion persists. Because advertising.

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@keepingalfoatwiththejoneses/Instagram

Inexpensive and tranquil…what's not to like?

Saving money and living comfortably don’t always go hand in hand, but people do find ways to accomplish it. Sometimes all it takes is thinking a little outside the box—getting a job that allows you to travel the world or swapping out a traditional mortgage for more creative, less costly home ideas.

Take this couple in North Carolina, for example, who gave up living on land to move into a floating cabin and apparently saved $27,500 annually by doing so.

According to Good News Network, Sarah Spiro, 27, and her boyfriend, Brandon Jones, 40, break down the math: Their one-bedroom floating home, which they bought in March 2021, originally cost less than $30,000. The pair then spent two months and $23,000 renovating, for a total initial investment of less than $50,000. And now, they pay $2,500 a year to live on the lake. Yes, you read that right. $2,500 a year. They used to pay that much per month on their combined individual rents.

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Kath recently became enthralled—and tickled—by a person who somehow manage to write the word “monke” (as in the word describing a group of monkeys, apparently) on every single one of their answers.

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