Posted tagged ‘“35 Mind-Blowing Facts About Inequality”’

“35 Mind-Blowing Facts About Inequality”

July 26, 2015

On July 13, AlterNet, the on-line news source, posted an article titled “35 Mind-Blowing Facts About Inequality”.

In the introductory paragraph of the article, Larry Schwartz, the author of the article writes

” … (Bernie Sanders) has even blasted the orthodoxy of economic growth for its own sake, saying according to Monday’s Washington Post that unless economic spoils can be redistributed to make more Americans’ lives better, all the growth will go to the top 1% anyway, so who needs it?”

Schwartz then recounts the growth of income and wealth inequality in the United States and the world since World War Two.

He concludes his article with thirty-five facts about inequality that will “fry your brain”.

Here are several of those facts:

  • ” … the poorest half of the US owns 2.5% of the country’s wealth. The top 1% owns 35% of it.”
  • “Over 20 percent of all American children live below the poverty line. This rate is higher than almost all other developed countries.”
  • “Four hundred Americans have more wealth, $2 trillion, than half of all Americans combined. That is approximately the GDP of Russia.”

You can read the article and the other 32 facts about inequality here.

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