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Recycle the Money

April 1, 2021
Fool me no more!

To repeat facts quoted in: “The rich-poor gap in America is obscene. So let’s fix it – here’s how“: Do we want a democracy or not?

  1. The top 1% now own more wealth than the bottom 92%.
  2. The 50 wealthiest Americans own more wealth than the bottom half of American society – 165 million people.
  3. Over the past [pandemic] year 650 billionaires have seen their wealth increase by $1.3tn.
  4. In 1978, the top 0.1% owned about 7% of the nation’s wealth. In 2019 … they owned nearly 20%.
  5. The two richest people in America, Jeff Bezos and Elon Musk, now own more wealth than the bottom 40% of Americans combined.
  6. If income inequality had not skyrocketed over the past four decades and had simply stayed static, the average worker in America would be earning $42,000 more in income each year.
  7. Instead, as corporate chief executives now make over 300 times more than their average employees, the average American worker now earns $32 a week less than he or she did 48 years ago – after adjusting for inflation.

Bernie Sanders says it again: “Today, half of our people are living paycheck to paycheck, 500,000 of the very poorest among us are homeless, millions are worried about evictions, 92 million are uninsured or underinsured, and families all across the country are worried about how they are going to feed their kids. Today, an entire generation of young people carry an outrageous level of student debt and face the reality that their standard of living will be lower than their parents’. And, most obscenely, low-income Americans now have a life expectancy that is about 15 years lower than the wealthy. Poverty in America has become a death sentence.

“A job should lift workers out of poverty, not keep them in it.” So raise the minimum wage with the object of righting the inequality by recycling the money that went to the top when it should not.

Can’t be done without restored and reinvigorated union power.

“We need to create millions of good-paying jobs rebuilding our crumbling infrastructure – our roads, bridges, wastewater plants, sewers, culverts, dams, schools and affordable housing.

“We need to combat climate change by fundamentally transforming our energy system away from fossil fuels towards energy efficiency and renewable energy which will also create millions of good paying jobs.

“We need to do what virtually every other major country does by guaranteeing healthcare to all people as a human right. Passing a Medicare for All program would end the absurdity of us paying twice as much per capita for healthcare as do the people of other countries, while tens of millions of Americans are uninsured or under-insured.

“We need to make certain that all of our young people, regardless of income, have the right to high quality education – including college. And that means making public colleges and universities tuition free and substantially reducing student debt for working families.

“And yes. We need to make the wealthiest people and most profitable corporations in America start paying their fair share of taxes.

“Growing income and wealth inequality is not just an economic issue. It touches the very foundation of American democracy. If the very rich become much richer while millions of working people see their standard of living continue to decline, faith in government and our democratic institutions will wither and support for authoritarianism will increase. We cannot let that happen.”

Wealth recycled to the people with nature’s asymmetric sense of justice for all: A movement that people with money should intuitively be able to endorse. If they cannot, then clearly their money distorts their vision of the economy. Let’s stand up and clarify the situation for all. Or fool me again!

Money vector created by stories – www.freepik.com

One Comment
  1. Recycling the money, if possible, is a good idea. Thank you 😊

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