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We classify economies for analytical purposes into four income groups: low, lower-middle, upper-middle, and high income. In 1987, 30% of reporting countries were classified as low income, while in 2022, only 12% fell into this category.

World Bank Group

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KABOOM 💥 The FBI just RAIDED a $35M Mansion and arrested California tech CEO Jamshid Ghomi for supplying U.S. equipment to Iran's nuclear and military establishment Ghomi moved over $15 million from Iran into his U.S. bank accounts and a separate escrow account, falsely reporting the money to the IRS as a foreign inheritance, according to the DOJ. His federal tax returns reported almost no income with his highest reported income in any year being $20,684. He allegedly claimed the tax break intended for low- to moderate-income working individuals and families, in seven different tax years while reporting more than $1.7 million in mortgage interest. 🐸

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