The only way to steer American democracy to safety is to wrest money out of the claws of the wealthiest elites, who now control finances rivaling the economies of whole nations.
by Sonali Kolhatkar, In These Times
As we count down toward the 2024 general election, we should expect to hear from media pundits about candidates and their viability, swing states and the electoral college, likely voters and poll results, and much more. Occasionally we may hear about some issues of importance. Most likely, we will hear little about the urgent need for wealth redistribution in the United States. Extreme inequality remains an invisible scourge underlying so much of what ails society and, even when discussed, is touted as an unavoidable and inevitable outcome of our economy.
However, there is abundant evidence that wealth inequality is the product of intentional design and the idea that what is good for billionaires is good for society. Nothing could be further from the truth.
The Switzerland-based global bank UBS just released its 2023 Billionaire Ambitions report and concluded, “For the first time in nine editions of the report, billionaires have accumulated more wealth through inheritance than entrepreneurship.” Benjamin Cavalli, Head of Strategic Clients at UBS Global Wealth Management said, “This is a theme we expect to see more of over the next 20 years, as more than 1,000 billionaires pass an estimated [$5.2 trillion] to their children.”
That’s more than the economy of the entire United Kingdom. It’s more than the economies of Canada and Mexico combined.
Recent Posts
Putin Warns Of ‘Direct’ War As U.S. Mulls Letting Ukraine Use Long-Range Western Missiles
Take Action Now “It is a question of deciding whether or not NATO countries are directly involved in a military conflict,” said Russian…
Biden’s Legacy: The Decline Of Arms Control And Disarmament
Take Action Now The only remaining nuclear disarmament treaty—the New START Treaty—expires in February 2026, and there is no indication that U.S. and…
Both Presidential Candidates Agree: We Need To Stop Arresting People For Marijuana
Take Action Now Further proof that an issue once considered a political hot button has gone mainstream. By Paul Armentano, OtherWords At a time…
Here Are The Members Of Congress Invested In War
Take Action Now More than 50 members of Congress own stock in defense contractors whose profits are soaring from giant Pentagon budgets and…