The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%

“A rising tide most definitely did not lift all boats. It didn’t even lift most of them, as nearly all of the benefits of growth these past 45 years were captured by those at the very top.”

The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—And That’s Made the U.S. Less Secure

A new report shows that a $50 trillion redistribution of income to benefit the richest has made America less healthy, resilient, and secure.

According the report referenced in the article, if the economic inequality for the three decades after World War II from 1945 through 1975 had just been held constant for the next 40 years until 2015, then approximately half of the full-time workers today who make $50,000/year or less would be making double what they make today. And the $110,000 Mr. Money Elite earned in 2018 would have been about $140,000 instead:

Capitalism clearly works best for those at the very top.

I’m definitely not advocating we get rid of capitalism, but there needs to be a more equitable balance in my opinion. Unbridled capitalism isn’t the answer. And neither is pure socialism. There needs to be more parity and the United States, socioeconomically speaking, is alot closer to one end of an extreme than it is to a more equitable middle.