“We’re increasingly becoming a country with a tiny number of extraordinarily wealthy people, a large underclass, and no middle class. Societies that are structured like this do not end well for anyone, including the rich people.” That’s Erica Payne, founder of Patriotic Millionaires, a group that advocates for greater wealth equality through restructuring the American […]
Inside the World of the Wealth Hoarders
As many Americans have struggled to make ends meet during the pandemic, the wealth of Jeff Bezos, Elon Musk, Bill Gates, and other billionaires has gone up by $1.3 trillion. And there is an entire professional sector—including tax attorneys, estate planners, accountants, and wealth managers—dedicated to help wealthy individuals and corporations protect, preserve, and accumulate […]
Pandemic has played into the hands of the Wealthy
647 individuals in the U.S. have amassed almost a trillion dollars during the pandemic, at the same time as millions of Americans have struggled to make ends meet. Researcher for the Program on Inequality and the Common Good, Omar Ocampo, recently authored an article “Billionaire Wealth vs. Community Health” where he discusses Trump’s bailout dollars […]
Big Money and the Pandemic — Who’s Profiting from the Crisis?
“Extreme wealth inequality has become America’s pre-existing condition,” writes Chuck Collins in a new co-authored report from the Institute for Policy Studies, “Billionaire Bonanza 2020.” In the past six weeks, as a record 30 million Americans have filed for unemployment, the 630 billionaires of the United States have seen their shared wealth go up $406 […]
