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Mind-Blowing Inequality as America's 20 Richest Own More Than Bottom Half


#1

Mind-Blowing Inequality as America's 20 Richest Own More Than Bottom Half

Lauren McCauley, staff writer

The divide between the "haves" and the "have-nots" in the United States has never been so vast, with a new report out Tuesday revealing that the nation's 20 richest individuals own more wealth than the entire bottom half of the population.

What's more, with a combined worth of $2.34 trillion, the richest 400 Americans—who include Bill Gates, Donald Trump, Oprah Winfrey, and heirs to the Wal-Mart fortune—own more wealth than the bottom 61 percent of the country, or 194 million people.


#2

From this article's headline:
"America’s 20 Richest Own More Than Bottom Half"

i preferred the (accidental?) irony of the headline on Dariel Garner's article here today:
"The Richest 20 Own More Than Half The People"

To quote George Carlin:
"They OWN you."


#3

I cannot understand why anyone would want to possess a billion dollars. No one is capable of "earning" that much, in my opinion. It is immoral for an individual to hoard that much and it's unhealthy for society. There should be a ceiling on how much wealth one can possess, but I realize that's not the American way.


#4

Yes. Also like Carlin's "They call it the American Dream, because you have to be asleep to believe it."


#5

"They" ARE NOT "hoarding" their billions, "they" have purchased enough politicians in nearly every nation on earth to assure that "they" meet their goal of the 1% owning everything and the 99% owning nothing.


#6

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#7

"The American Way" is about to fall apart. Better if we change it with an organized movement, but disaster is far more likely, already underway.


#8

Absolutely. It is not "ownership," it is looting, and it is in its late stages.


#9

For example, the combined net worth of the Forbes 400 roughly equals the wealth of the entire African American population, plus a third of the Latino population.

And where exactly did the Forbes family fortune originate?
In the slave trade.
Call it "theft of services" on a grand scale.


#10

I believe that, as long as there is plenty, poverty is evil.

Robert Kennedy


#11

THIS is what corporate media should obsess about, poverty is killing more Americans than any terrorist or gunman ever has, or ever will ... but, alas, they are "corporate" media ... so they do what magicians do so well ... "don't look at this hand that is screwing you, look over here at THIS hand that has nothing to do with anything that you are actually affected by in real life."


#12

What is wealh? What is rich? In economics, there is a difference. A black man on the street can have one million dollars in his pocket making him rich. He gets pulled over by a corrupt cop and the cop takes his money and says its drug money and keeps it to himself. The black man is now poor. Enter Ben Bernake...he is wealthy. He went to prison as a wealthy man. The gov't had to have a seperate court hearing/charges to take his wealth which waw in propertg and whatnot. A man in prison is wealthier than the person on the street. Now, what is money? An agreed upon physical/tangible item that represents something else, usually made of worthless paper. If Jesus was born in the year 0 AD and had one trillion dollars, how much would he have to spend in one day to spend it all by today? Thats one trillion divided by 2015= $496,277,916/year. Then 12 months= $41356493 that would need to be spent monthly. Daily is: $1378549.77. And hourly is $57439.57. And $957.33/minute. And lastly, $15.96/second, more than the majority of the nation is making an hour. Isn't education in economics fun? So to all capitalists, define capitalism without using a dictionary and then go look it up, the word private appears in that definition. So what does private mean?


#13

Hello Skippystone,
That was the American way. It was called the "progressive tax system. Those that earned the most paid the most. It also applied to the "inheritance tax". After a certain amount the tax on the rest really added up so the money went back to society. The only way left to fix the system is not pretty but necessary as the wealthy won't voluntarily give up even some of their wealth. It is always the end result when the top of the pyramid has all the money and the rest collapses! The top of the pyramid has no support so it is destroyed along with the rest of the country.


#14

Does this mean people of African decent and 1/3 of US Latinos add up to 61% of the US population?

“… the combined net worth of the Forbes 400 roughly equals the wealth of the entire African American population, plus a third of the Latino population.”

“… the richest 400 Americans … own more wealth than the bottom 61 percent of the country, or 194 million people.”


#15

The next step is police and military grow weary of killing their friends, neighbors and families and return to their neighborhoods with their guns and boots. At that point the four hundred richest people are in deep doo doo. Ask the Czar's ghost.


#17

Ah, a name. None in the article, but the very very very rich prefer to be anonymous, and the media are complicit. Their addresses (they each have several) are secret, of course, though nobody has as yet openly and seriously suggested coming at them with pitchforks or even bombs. Who are they? Some articles suggest there are 20, some 150. The Walmart kids, for example, aren't mentioned here, but Corso's arithmetic makes me wonder how many meals they eat on one day while their employees hope to get 2.