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Greed watch: New and remarkable numbers on the concentration of wealth

David Koch

Conservative plutocrat, David Koch

It’s no secret that America’s economic inequality continues to metastasize at a remarkable pace. Still, when one actually takes a moment to look at and consider the vast holdings of the nation’s richest families (and the avarice often represented therein) it can take your breath away. For some cases in point, check out the following article entitled “A Third of a Trillion for Three Families,” by tax lawyer Bob Lord for the website Inequality.org.

“How concentrated has America’s wealth become? In the not-so-distant future, if current trends continue, a mere handful of Americans will together hold over $1 trillion in wealth.

At the very top, the rate of concentration of wealth has become nothing short of breathtaking. The share of wealth held a generation ago by our 1,500 wealthiest Americans now sits in the hands of just our wealthiest 51.

Some of our billionaires seem to recognize the unseemliness of this intense concentration of wealth.

These billionaires have joined together to take the “billionaires’ pledge.” They’ve made a public, but non-binding, promise to leave half their wealth to charity upon death.

We have plenty of other billionaires who won’t even make this token gesture.

On that front, three families stand out: The Koch, the Walton, and Mars households….”

Read the rest of the post by clicking here.

6 Comments

  1. Alex

    March 21, 2014 at 10:12 pm

    A s I have said many times, Obama’s economic policies have made the rich much richer and the poor even poorer in addition to shrinking the middle class. Much of the nation’s capital has moved to Wall Street and the big banks in unprecedented numbers. Seniors are now in their fifth straight year where their lifelong savings are essentially worthless with such low interest rates, and sit in big banks doing no good for the economy. Take off your blinders Rob, and it’s very easy to see what is causing these problems.

  2. ML

    March 22, 2014 at 1:21 pm

    Stop obsessing over one person. Obama may not have helped as much we would have like but much of what you complain about is at the feet of congress and the republican/tea party house does little to nothing currently. Obama is far from the cause of why greedy billionaires hoard money except to spend millions on campaigns to get more billions.

    For someone to say money is speech and spending money on campaigns doesn’t beholden a candidate to the whims of the donor is ludicrous. If you say no, then ask the billionaires why they spend the money bc it seems pretty pointless to me if it doesn’t work.

  3. Alan

    March 23, 2014 at 10:36 am

    Alex apparently has no memory prior to 2008.

  4. Alex

    March 23, 2014 at 5:45 pm

    Alex apparently has no knowledge before 2008.

  5. Jack

    March 24, 2014 at 4:08 pm

    What does President Obama have to do with NCGA furthering the Plutocracy in NC?

  6. ML

    March 24, 2014 at 6:37 pm

    Only to obfuscate the real issues, otherwise Obama has nothing to do in relations to our states tax code.