class inequality

California's proposed tax on billionaires is drawing attention from Nobel laureates, who argue it could trigger a broader movement across other US states, the federal government and other countries. Supporters point to the explosive growth of the state's billionaire class in recent decades, which has made California one of the most unequal places in America. Critics and supporters alike are watching to see whether the measure becomes a template for wealth taxation elsewhere.

A Hofstra University expert argues that financial literacy education cannot succeed as a standalone fix because it often ignores the systemic inequities, such as unequal access to credit, wealth gaps, and discriminatory lending, that shape people's financial realities. The argument calls for curricula that pair money-management skills with a clear-eyed account of the structural barriers different communities face.

The Wall Street Journal reports that the divide between ordinary wealthy households and the ultra-rich is growing, with gains at the very top increasingly outpacing the rest of the affluent tier. The piece examines how assets like stocks and private businesses are concentrating wealth among a small group, even as broader measures of inequality between rich and middle-class households receive more attention.