America’s 1% Has Taken $50 Trillion From the Bottom 90%
Like many of the virus’s hardest hit victims, the United States went into the COVID-19 pandemic wracked by preexisting conditions. A fraying public health infrastructure, inadequate medical supplies, an employer-based health insurance system perversely unsuited to the moment—these and other afflictions are surely contributing to the death toll. But in addressing the causes and consequences of this pandemic—and its cruelly uneven impact—the elephant in the room is extreme income inequality.
How big is this elephant? A staggering $50 trillion. That is how much the upward redistribution of income has cost American workers over the past several decades.
This is not some back-of-the-napkin approximation. According to a groundbreaking new working paper by Carter C. Price and Kathryn Edwards of the RAND Corporation, had the more equitable income distributions of the three decades following World War II (1945 through 1974) merely held steady, the aggregate annual income of Americans earning below the 90th percentile would have been $2.5 trillion higher in the year 2018 alone. That is an amount equal to nearly 12 percent of GDP—enough to more than double median income—enough to pay every single working American in the bottom nine deciles an additional $1,144 a month. Every month. Every single year. <snip>
History of U.S. Gov’t Bailouts
The circles below represent the relative size of each U.S. government bailout of American corporations (and one city), calculated in 2008 dollars. They are in chronological order.
BITCOIN IS AN ESCAPE HATCH
Human Rights Foundation’s Alex Gladstein Calls Bitcoin ‘An Escape Hatch From Tyranny
The Human Rights Foundation (HRF)’s Alex Gladstein has heaped praise on bitcoin saying it’s an escape hatch from tyranny and that there is more to it than its price. In comments made via a short video, Gladstein, who is the chief strategy officer (CSO) at HRF, asserts that “people who buy bitcoin are strengthening a tool for protecting human rights.”
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YOU CAN NOT RUN GOVERNMENT AS A BUSINESS
YOU CAN NOT SELL OFF GOVERNMENT AGENCIES TO PRIVATE OWNERS
White power supremacists duped into believing Trump could run government like a business and help hold onto white power and help them make money again.
