Bernie Sanders is not my #1 choice for the Democratic nomination — I think Elizabeth Warren would be a much better President — but stories like this one really make the case for the abolition of billionaires. (For the record: I’m not against billionaires per se, just for real progressive wealth taxes.)
These pie charts come from the Washington Post Wonkblog. First there’s one symbolizing what US survey respondents said they though would be the ideal distribution of wealth:
But in fact we in the US have this distribution:
Or, if you want to show just how skewed things are, you could represent it like this:
Of course the GOP tax plan being rammed through Congress will just make all this worse.
Myself, I think Herbert Stein’s law applies here (“Trends that can’t continue, won’t.”). Sooner or later there will be a reaction, or more accurately a counter-reaction. If we are lucky, it will be systemic and electoral and we’ll get a progressive government. If we are less fortunate, and we just get just Third Way types or more gridlock, there’s a risk the counter-reaction will be more revolutionary and more violent. (And I don’t mean that the top .1% will get pie in the face.)
Expand the focus to the richest 1%, and Oxfam reports they have about $110 trillion in wealth (46% of the total) which is 65 times the $1.7 trillion (about 0.7% of the total) held by the bottom half of the population.
Makes you feel that “The Owner” is not just a Neal Asher dystopian fantasy.