Category Archives: wealth inequality

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What Happened To America’s Wealth? The Rich Hid It

What Happened To America’s Wealth? The Rich Hid It
Above Photo: Jeff Smallwood/Flickr There’s actually trillions that could be used to fix our roads and schools. The wealthy just don’t want you to know where it is. If you find yourself traveling this summer, take a closer look at America’s deteriorating infrastructure — our crumbling roads, sidewalks, public parks, and train and bus stations. Government officials will tell us “there’s no money” to repair or properly maintain our tired ... Read more

US 1% Will Control 70% of Wealth By 2021

US 1% Will Control 70% of Wealth By 2021
Above Photo: America’s oligarchs are set to maintain their grip on the majority of the country’s wealth, with a new study claiming that they will control 70 percent of national wealth by 2021. (AP/Vadim Ghirda) A new study by the Boston Consulting Group has found that while wealth inequality is growing on a global scale, it has kicked into overdrive in the United States – where America’s 1% are expected to control 70 percent of the nation’s ... Read more

Massachusetts To Vote On Taxing The Wealthy

Massachusetts To Vote On Taxing The Wealthy
Above Photo: From massteacher.org The Massachusetts Legislature, meeting in a Constitutional Convention, has approved sending the proposed Fair Share Amendment to the November 2018 state ballot. The legislators’ vote of 134-55 on Wednesday, June 14, was the second by a Constitutional Convention on the measure, as is required for amendments to the Massachusetts Constitution. The citizens’ initiative would create an additional 4 percent tax on ... Read more

Now Just Five Men Own Almost As Much Wealth As Half Of World’s Population

Now Just Five Men Own Almost As Much Wealth As Half Of World’s Population
Above Photo: It’s not a meritocracy. It’s an oligarchy. (Photo: Pixabay/CC0) Last year it was 8 men, then down to 6, and now almost 5. While Americans fixate on Trump, the super-rich are absconding with our wealth, and the plague of inequality continues to grow. An analysis of 2016 data found that the poorest five deciles of the world population own about $410 billion in total wealth. As of 06/08/17, the world’s richest five men owned over ... Read more