by Brett Wilkins, Common Dreams Waking Times New research published Monday found that the top 1% of U.S. income earners have taken $50 trillion from the bottom 90% over the past several decades, and that the median worker salary would be around twice as high today as it was in 1945 if pay had kept pace with economic output over that period. The study’s authors, Carter C. Price and Kathryn Edwards of the RAND Corporation, examined income distribution and economic growth in the United States from 1945 to the present. The researchers found stark differences between income distribution from 1945 to 1974 … Continue reading ‘$2.5 TRILLION THEFT’ – STUDY SHOWS RICHEST 1% OF AMERICANS HAVE TAKEN $50 TRILLION FROM BOTTOM 90% IN RECENT DECADES

by Jake Johnson, Common Dreams Waking Times A devastating trend of soaring inequality in the U.S. continues. In their weekly analysis of wealth data Thursday, the Institute for Policy Studies (IPS) and Americans for Tax Fairness (ATF) found that billionaires have seen their combined net worth grow by $584 billion in the three months since the Covid-19 pandemic shuttered much of the U.S. economy and threw more than 45 million people out of work. Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffett, and Larry Ellison—the five wealthiest billionaires in the U.S.—saw their collective riches grow by $101.7 billion between March 18 and June 17, according … Continue reading ‘ORGY OF WEALTH’ CONTINUES AS US BILLIONAIRES GREW $584 BILLION RICHER OVER LAST 3 MONTHS WHILE 45 MILLION LOST THEIR JOBS