Failure to reverse the stranglehold amassed capital
has on the legislation and regulations preventing
the renewal of our infrastructure, education, healthcare,
and many other issues hindering our pursuit of the American Dream
leaving many behind and others feeling they are loosing ground,
going backward not forward.
The recovery from the deep recession has not benefited all. Things have become worse since Robert Reich’s documentary Inequality for All. There he argued that income inequality is the defining issue for the United States. Since 2009, when the recovery started, according to Reich, 95% of economic gains went to the top 1% High Net Worth Individuals. (HNWI) More recently, in 2017, an Oxfam study found that eight rich people, six of them Americans, own as much combined wealth as half the human race. Here is a list of the top 15 wealthiest Americans.
Sometimes there are stories of how the poverty rates are falling. The official poverty rate in 2017 was 12.3 percent, down 0.4 percentage points from 12.7 percent in 2016. This is the third consecutive annual decline in poverty. Since 2014, the poverty rate has fallen 2.5 percentage points, from 14.8 percent to 12.3 percent.Sep 12, 2018.
It is important to understand what that means in terms of dollars. The table below indicates poverty according to number of people in the household.
Bill Gates earned 10,895,522 times more that a one person in a household earning $12,060. In 2017, there were 39.7 million people in poverty.
As we have said when you try to understand one of the issues you quickly run into Poverty and Race.