Posted by: coastcontact | December 10, 2015

America’s 20 richest people have more money than these 152 million people

This article appeared on End Of The American Dream and MarketWatch.

“America’s 20 wealthiest people — a group that could fit in one Gulfstream G650 jet — are now worth $732 billion, which means they have more wealth than the 152 million people who make up the least wealthy 50% of U.S. households, according to a report released Wednesday by the Institute for Policy Studies. What’s more, the “Forbes 400” wealthiest individuals in the U.S. now have a net worth of $2.34 trillion.”

So when Bernie Sanders says almost the very same thing you think “Well he is running for president and this is his hook.”

I ask you now what do you think?

Just yesterday the Los Angeles Times posted the following:

“The nation’s income gap increased 10% over the past 20 years, and roughly twice that rate for people in their prime earning years, according to a new study.

The income gap swelled 21% for those between the ages of 35 to 44, and 17.6% for people aged 45 to 54, according to the analysis by financial website The study analyzed the period from 1992 to 2012.

The study is the latest to highlight rising income inequality, and is troubling because it shows the dichotomy worsening for people in their key earnings years.

“The prime earning years for most people — when they’re in their 30s and 40s — are also the most important when it comes to setting up a future position on the wealth spectrum,” according to the study. “While some are quickly advancing toward becoming rich, others are just as quickly falling behind.”

According to the study, the income gap is widest among people 65 and older, although it grew only 3%, the slowest rate for any age group over the last 20 years.

Citing data from the Census Bureau, the bottom fifth of U.S. households earn an annual average of $11,490, the study said.

The next fifth take in $29,696. The middle tier earns $51,179 and the next group takes home $82,098. The top fifth earns $181,905, and the top 5% earns $318,052.”

The problem is that neither Hillary Clinton nor any of the GOP presidential candidates have even opened a dialog on this issue.

Thus even though there is more than enough data, none of the leading candidates want to face the unpleasant reality that the average American family is growing poorer.

Why should you vote in a presidential race when your needs are not even part of the discussion? Wait, there is one candidate who has brought this topic to the forefront.


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