Monday, December 13, 2021

Wealth and Inequality in America

First, Sharing of GDP:



Then, Division of wealth from 1980 (Reaganomics Era begins 1981):

Source:

https://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality


Who has the Wealth?

In 1965 the wealth was mostly in the hands of people who made more money (as expected), but division grew because the lower-income groups did not get the same increases as the top 10% (90th percentile). This chart ends in 2016, but the steady incline shows the rich get richer and the others do NOT.

Source: https://apps.urban.org/features/wealth-inequality-charts/


We can change the economy and how the wealth is distributed. The huge gap between the top 10% (it's even worse between the top 1% and the next 9%) and the rest of the population (90% of the people) can be closed again to some more workable level.


Thursday, December 9, 2021

ProPublica Investigates Taxes and Billionaires

It shouldn't be a surprise that our tax system favors the most powerful industries (oil and real estate are two).


It should be obvious that as they fall out of favor in exchange for something else (renewable energy sources) that their rot should be noticed and reformed.


Here are the articles I've seen so far:

These Real Estate and Oil Tycoons Avoided Paying Taxes for Years — ProPublica

When You're a Billionaire, Your Hobbies Can Slash Your Tax Bill — ProPublica

A Massive Oil Spill Helped One Billionaire Avoid Paying Income Tax for 14 Years — ProPublica