$80 trillion. $80 TRILLION redistributed from the 90 percent to the 1 percent in just five decades. As someone who follows wealth inequality pretty closely, this stat still boggles my mind.
Reposted from
Truthout
Sen. Bernie Sanders highlighted a new analysis showing that the wealthiest 1% has extracted $79 trillion from the bottom 90% of Americans since 1975. In 2023 alone, $3.9 trillion was redirected upward—enough to provide every U.S. worker with a $32,000 raise.
Comments
Hakeem is be happy to go on a book tour and relax... thinking 'Trump is losing in court'.
Why do people the People feel so afraid then... I've never seen America this sad.
47% is MORE than 1/3!
I would have emailed you but email link on Truthout does a 404.
Still critically important data, bc it explains how Trump won- he recognized the problem, while Dems sank the one guy who's trumpeting reality and proposes to reverse it.
"in 1975 the bottom 90 percent of earners received about two thirds of all taxable income based on data from the World Inequality Database.
That share fell to less than 1/2 by 2015.
Since then, updated data indicate that it fell from 49.53 percent in 2015 to 46.83 percent in 2019."