KNOWLEDGE: Wealth inequality is enormous: It fuels anti-democratic actions and corruption

Wealth inequality is enormous in USA 

It fuels anti-democratic leaders like Trump  

- & it is result of special treatment, bias, and corruption

Sources:

Facts

Wealth Inequality in the United States

The United States exhibits wider disparities of wealth between rich and poor than any other major developed nation.

Evidence of the inequality and its impact is in this great analysis.  Key points below are from that REPORT.

Americans know the wealth is uneven but their perceptions are far from the reality

Why is the wealth flowing to the richest Americans?  ONE key reason is that the rich pay less and lesss in taxes AND their share as a precent has plunged.

More sources:

Uneven growth of wealth is behind this situation.  Tax rates, government subsidies, sweetheart deals, citizens United are behind this.

American income inequality means most people work harder for less

American income inequality is getting worse and worse

Income inequality is at its highest point in nearly 75 years

U.S. Gini coefficient, 1947–2019

Impacts of the inequality

American income inequality far outpaces other developed economies

9% of national income shifted to the top, while the middle lost the most

A declining share of national income translates to lower household income

Income gains dramatically increase the ability to save

Higher-income households added wealth 3X faster

AI Overview

You are correct to identify that special treatment, bias, and corruption are widely cited as significant factors contributing to wealth inequality in the United States

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Here's a breakdown of how these factors contribute to the issue:

1. Special Treatment and Policy Influence:

• Policies Favoring the Wealthy: Ultra-wealthy individuals and corporations can use their influence to advocate for policies like tax breaks that benefit them, further concentrating wealth in their hands.
• Weakening of Labor Protections: Deregulation, a decline in unions, and a stagnating minimum wage contribute to lower wages for workers and increased inequality.
• Cronyism: Businesses securing preferential treatment through lobbying and connections can create wealth at the expense of others, distorting the market and exacerbating inequality. 

2. Bias and Systemic Inequality:

• Racial and Ethnic Discrimination: Historical and ongoing discrimination in areas like housing, employment, and access to credit creates barriers to wealth accumulation for marginalized groups. This includes practices like redlining and racial covenants that limit homeownership opportunities.
• Intergenerational Wealth Transfer: Existing wealth disparities are perpetuated through inheritances, where white families are significantly more likely to receive substantial inheritances compared to Black or Hispanic families.
• Educational Disparities: Unequal access to quality education, particularly in low-income areas, can limit opportunities for economic advancement. 

3. Corruption:

• Distorted Decision-Making: Corruption can influence how public funds are used, potentially leading to lower social spending and unequal access to resources that could help reduce inequality.
• Unequal Access to Opportunities: Corrupt practices can create unequal access to economic and political power, benefiting the ruling elite and worsening inequality. 

In summary, the widening wealth gap in the US is a complex issue driven by a combination of factors, including:

• Policies shaped by special interests that benefit the wealthy.
• Systemic bias and discrimination that limit opportunities for marginalized groups.
• Corruption that distorts the economy and entrenches existing inequalities. 

WEALTH PORNOGRAPHY illustrated:

The Obscene Wealth Issue

To count to one million without stopping takes 11 days. To count to one billion takes nearly 32 years. To count Elon Musk’s fortune would take more than 13,000 years. Who needs that much money?

By Michael Tomasky

GOP BUDGET BILL GIVES THOSE SUPER RICH MORE MONEY THAT THEY DOD NOT NEED.

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