On January 21, 2014, Judd Legum writes on Think Progress and Nation Of Change:
On the day that America celebrates his birth, OxFam has released a report detailing the shocking economic inequality in America and around the world. Most strikingly, the richest eighty five people own as much wealth as the poorest fifty percent of the world’s population — that’s three point five billion people. Among the other findings in the report: 1.) Half of the world’s wealth is owned by one percent of the population. 2.) Since the late 1970s, tax rates for the richest have fallen in twenty nine of the thirty counties for which data is available. This means the wealthy are not only making more but paying a smaller percentage in taxes.
Gary, thanks for the info about “Life, Liberty, and the means of acquiring Property.” It helps to clarify the insidious connection between the stock market and inequality.
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