his own stats prove there is a problem of worsening inequality
This is HARD!
The increasing concentration of income and wealth in the uppermost percentile.
Economic growth has been increasingly less distributed and more concentrated.
Not sure why this is difficult.
his own stats prove there is a problem of worsening inequality
This is HARD!
How The Ruling Class Implements It’s Agenda w/Danny Haiphong
'Staggering' New Data Shows Income of Top 1% Has Grown 100 Times Faster Than Bottom 50% Since 1970
"The bulk of a generation of economic growth has been captured and concentrated in a few hands,
and many people have barely seen any of it."
the three richest Americans hold more wealth than the 160 million people who make up the bottom 50% of the population.
Washington Post columnist Greg Sargent published what he called "stunning" findings from Stanford University economist Gabriel Zucman, showing how both an explosion in annual earnings by the rich and an increasingly regressive tax structure have combined to allow the top 1% of Americans' wealth to triple over the past five decades.
Meanwhile, working people are taking home just $8,000 more per year than they did in 1970.
In what Sargent called "the triumph of the rich, which is one of the defining stories of our time," the richer a household is, the more its take-home wealth has grown in the past 50 years.
Greg Sargent
✔@ThePlumLineGS
New data:
For top 1%, average income has risen by $800,000 since 1970.
For top 0.1%, it has risen by $4 million.
For top .01%, it has risen $20 million.
Bottom 50%? $8,000.
All this is *after taxes and transfers.*
Great work from @gabriel_zucman:
https://www.washingtonpost.com/opinions/2019/12/09/massive-triumph-rich-illustrated-by-stunning-new-data/ …
https://www.commondreams.org/news/2019/12/09/staggering-new-data-shows-income-top-1-has-grown-100-times-faster-bottom-50-1970?cd-origin=rss
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