3 Shocking Ways Inequality Keeps Getting Worse in America

[xchrom]

http://www.alternet.org/economy/3-shocking-ways-inequality-keeps-getting-worse-america

***SNIP


1. $5 Million to Each of the 1%, and $1 Million to Each of the Next 4%

From the end of 2008 to the middle of 2013 total U.S. wealth increased from $47 trillion to $72 trillion. About $16 trillion of that is financial gain (stocks and other financial instruments).

***SNIP


2. Evidence of Our Growing Wealth Inequality

This first fact is nearly ungraspable: In 2009 the average wealth for almost half of American families was ZERO (their debt exceeded their assets).

In 1983 the families in America's poorer half owned an average of about $15,000. But from 1983 to 1989 median wealth fell from over $70,000 to about $60,000. From 1998 to 2009, fully 80% of American families LOST wealth. They had to borrow to stay afloat.


***SNIP

3. Congress' Solution: Take from the Poor

Congress has responded by cutting unemployment benefits and food stamps, along with other 'sequester' targets like Meals on Wheels for seniors and Head Start for preschoolers. The more the super-rich make, the more they seem to believe in the cruel fantasy that the poor are to blame for their own struggles.

[Laelth]

1. k&r for the truth, however depressing it may be. n/t

-Laelth

[JDPriestly]

2. K&R.

[Enthusiast]

3. The consequences of Gramm-Leach-Bliley?

"From 1998 to 2009, fully 80% of American families LOST wealth."

[HughBeaumont]

5. Mr."Nation of Whiners" . . . .

. ... couldn't have constructed a better looting system short of blatant confiscation.

[HughBeaumont]

4. K n R

Go to Alternet's FB post on this and you'll see dickhead Libertarians likely defending the looting and Rebranded Feudalism like it's their job.

[Enthusiast]

11. It actually might be their job.

The asshole side has an unlimited war chest ready for every contingency.

[toby jo]

6. The fact that the super - rich blame the poor isn't as toxic as the fact of middle class

Americans blaming the poor because the msm tells them to.

It's a failure on our part to educate and stop them in their tracks.

But, hey, we got a good man in office, a man of 'color', who ran against one of their brat bastard best. We WON. That says a hell of alot for us.

The greed principal is a tough one to tangle with. We'll just have to get tougher, keep winning.

[dmosh42]

7. Maybe because almost all our congressinal reps and senators are millionaires........

[laundry_queen]

8. Yep, that's a huge flaw in the system. nt

[bvar22]

9. Thank GAWD it passed!

[font size=3]Paulson with Co-Conspirators

[font color=white].....................[/font][font size=4]Now THIS is Bi-Partisanship.[/font]

[Efilroft Sul]

12. Hat tip to the Subject line

I wanted to spit nails back in the day when it was originally written here.

[bvar22]

13. "Thank GAWD it Passed. I know Economics"

and

[font size=3]"Don't Worry. They're just venting a little steam. I know Science."[/font] (Fukushima)

are two of the most unforgettable bullshit posts at DU over the 12 years I've been here (since early 2001).

[Liberal_in_LA]

10. k&r

[woo me with science]

14. K&R

[magical thyme]

15. point 2 is incorrect. if they debt exceeds their assets, their net worth is not zero, it is negative