-
New survey reveals how richest US families keep their riches

According to a survey from the Institute for Policy Studies, which tried to discern how rich families keep their riches, a majority of the richest American families have opted to hold their assets rather than create new wealth.
In the study entitled “Silver Spoon Oligarchs,” top 0.01% richest Americans retained their wealth in spite of what are supposed to be high taxes levied on the ultra-wealthy.
They aren’t producing useful goods, running factories, creating jobs, or any of that nonsense – they’re hoarding what they have and cashing in on the capital gains from their parents’ or other ancestral estates.
According to RT, the scions of rich families have had no trouble cultivating their hoards in full view of the tax man, as the US tax structure heavily favors the beneficiaries of inherited wealth.
The tax structure of the US has mutated over the last three decades to favor the rich even more than it did previously, putting the lie to the myth of a “trickle down” economy. Money in the US doesn’t just trickle up – it gushes upward with the force of a geyser.
RT quoted the report as saying, “America’s dynastic families, both old and new, are deploying a range of wealth preservation strategies to further concentrate wealth and power – power that is deployed to influence democratic institutions, depress civic imagination, and rig the rules to further entrench inequality."
The report declared, warning that “this tax avoidance means less support for the infrastructure we all rely on to preserve our health, safety, and quality of life."
Given that the vast majority of political donors sit amongst the top 0.01%, it’s hard to imagine politicians becoming genuinely concerned about the detrimental effect of the obscene wealth transfer on the American people.
Not only did the US tax code gradually evolve to better suit the wealthy over the last half-century, but of the top 50 wealthiest families listed in Forbes last year, 27 had also been on the magazine’s list of 400 wealthiest families since at least 1983. Groups like Oxfam have been sounding the alarm about this issue for years – only to be largely ignored. Who wants to spoil the party, after all?
The 27 “dynastic families” in question have seen their wealth mushroom at ten times the rate of regular families over the past 37 years, exploding a whopping 1,007% from $80.2 billion to $903.2 billion, adjusted for inflation. Meanwhile, the taxes paid by the wealthiest 0.01% of American billionaires dropped – factoring in inflation – a whopping 79% as a percentage of those oligarchs’ wealth.
Source: RT
Image source: Reuters-RT
You May Also Like
Popular Posts
Caricature
BENEFIT Sponsors BuildHer...
- April 23, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
opinion
Report
ads
Newsletter
Subscribe to our mailing list to get the new updates!