"Never before in American history have so few had so much wealth and power. Today, the top 1% owns more wealth than the bottom 93%. One person, Elon Musk, worth $805bn, owns more wealth than the bottom 53% of American households."
"Since he was re-elected, Trump and his family have become $4bn richer. Never before in American history have we had such concentration of ownership. While profits soar, a handful of giant corporations dominate virtually every sector of our economy."
"Over the last 50 years, $79tn in wealth has been redistributed from the bottom 90% to the top 1%. Almost all of the gains in worker productivity have gone to the top 1%."
The concentration of wealth and power in America has never been greater, with the top 1% owning more wealth than the bottom 93%. Elon Musk's wealth exceeds that of the bottom 53% of households. Billionaires have significantly increased their wealth, particularly after tax breaks. Major corporations dominate the economy, leading to higher prices. A small number of billionaires influence political campaigns heavily. Meanwhile, the working class has seen stagnant wages despite increased productivity, with significant wealth redistribution favoring the top 1% over the last 50 years.
Read at www.theguardian.com
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