Wednesday, June 13, 2018
America's richest 1% possess nearly 40% of the nation's wealth. That 40% of the wealth is twice the total wealth held by the bottom 90% of the American public, 294,000,000 people. Half of American households cannot afford basics like food, housing, and healthcare. Some 41 million Americans live in poverty. Of these, over 5 million reportedly live on $4 a day or less, as long as they continue living. Everyone who has ever played Monopoly should understand exactly what is going on. Monopoly reduces what happens over a generation to millions of people in real life to the same result in a day or two for four or five people. It is a model of unregulated Capitalism. It is where Trump is driving the country.
As of May 2018, the growing crop of billionaires included corporate owners with unprecedented levels of wealth like Jeff Bezos ($112 billion), Bill Gates ($90 billion), and Warren Buffet ($84 billion). Some families have also grown fantastically rich, including the rightwing Koch brothers ($120 billion) and the Walton family, owners of Walmart (nearly $175 billion).
The fix is so simple. Tax the hell out of them.
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