The rationales for accepting vast inequalities of income and wealth simply do not hold up.
By Tom Malleson, Inequality.org
In many parts of the world, inequality is spiraling out of control. The basic facts have become depressingly familiar.
In the United States, the top 0.1 percent now control about the same amount of wealth as the bottom 90 percent of the entire population. Globally, the richest eight individuals possess as much wealth as half the entire planet.
The United States could completely eradicate homelessness by taxing away just 2 percent of the wealth of a mere two billionaires, Jeff Bezos and Bill Gates. If we redistributed 2 percent of the wealth of all the world’s billionaires, leaving completely untouched the wealth of well over 99.9 percent of the world’s population, we could eliminate extreme poverty entirely. Billionaires, meanwhile, would likely not even lose any money in the process since they typically earn more than 2 percent annually off their wealth.
Despite stats like these, the same old objections resurface again and again, like ideological zombies, whenever anyone dares suggest a redistribution of grand fortunes.
Recent Posts
Voters in Key States See AI Campaign Cash as More Politically Toxic Than AIPAC: Poll
Take Action Now “Candidates should seek support from the AI industry at their own peril.”By Jake Johnson, Common Dreams Polling data released…
Everything You’ve Been Told About Lethal Injection Is a Lie
Take Action Now Death by drugs is brutal—and designed for political optics. Christa Pike’s failed execution pulled back the curtain.By Arianna…
British Support For Israel Is Shattering
Take Action Now There is not a single member of the Foreign and Commonwealth Office who believes that Israel, under any leadership, would allow a…
I’ve Covered Death Row Cases for Nearly a Decade. What Happened to Christa Pike Wasn’t an Anomaly.
Take Action Now Several states have faced questions about the competence of their execution teams as major medical organizations have opposed…