Oxfam warns Trump policies risk driving inequality to new heights – but Democrats have also exacerbated wealth gap
The collective wealth of the top 10 US billionaires has soared by $698bn in the past year, according to a new report from Oxfam America published on Monday on the growing wealth divide.
The report warns that Trump administration policies risk driving US inequality to new heights, but points out that both Republican and Democratic administrations have exacerbated the US’s growing wealth gap.
Using Federal Reserve data from 1989 to 2022, researchers also calculated that the top 1% of households gained 101 times more wealth than the median household during that time span and 987 times the wealth of a household at the bottom 20th percentile of income. This translated to a gain of $8.35m per household for the top 1% of households, compared with $83,000 for the average household during that 33-year period.
and the dude pulling 50k as a supervisor at wendy’s is like “fuck yeah, suck it libs”
I bet most americans are super proud to host these parasites.
Where did they find $700b?
WHERE DID THEY FIND $700B?!?!
Hint: that averages out to almost $2000 per American.
Guys that’s only them getting $1.56 each
For every single second since the birth of Jesus Christ
Added to their individual wealths all worth about 100x that amount.
It’s only $1.35M per day over 2025 years.
It’s no big deal.
Does this de-value money? When this much is in such a small amount of hands, what good is it even doing?
Yes. It does. You can see it in the increasing inflation rate. Their fake dollars impact our real ones. As they hoard more wealth, cumulative wealth becomes more worthless.
It does literally no good as they just stuff what they can offshore to avoid any taxes. They do nothing for the economy other than to drain resources.
Which is literally what they’re doing with AI. Massive water consumption, not to mention the massive amounts of power and silicon/tech involved. If one wanted to burn through our resources at record speed for no reason other than burning through our resources at record speed, it would seem as though they discovered a pretty efficient contender with AI.
hang them, each, by ropes made of money
Hey US’ians. You’re collectively being taken to the cleaners, and you’re cheering the culprits. End this before the oligarchy has taken everything you hold dear
Sure, buddy. The people cheering for this are on Lemmy. You mean Dear Leader Trump might be lying to me? I’m absolutely shocked! Thanks so much for imparting this vital information.
But billionaires are like celebrities. You need to cheer for them and buy them stuff.
Risk? That’s the plan, yo.
Hopefully several of them will die of natural causes so we can at least obtain those inheritance taxes from those greedy non-societal motherfuckers.
You’re joking, right? Between beg-borrow-die and forever trusts, they use their deaths to take their debts with them while their dragon horde stays untouched
