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

Posted By Rob Schofield On March 21, 2014 @ 1:39 pm In Uncategorized | Comments Disabled

David Koch [1]

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,” [2] by tax lawyer Bob Lord for the website Inequality.org [3].

“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 [2].


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URL to article: http://pulse.ncpolicywatch.org/2014/03/21/greed-watch-new-and-remarkable-numbers-on-the-concentration-of-wealth/

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[1] Image: http://pulse.ncpolicywatch.org/wp-content/uploads/2014/03/David-Koch.jpg

[2] “A Third of a Trillion for Three Families,”: http://inequality.org/trillion-families/

[3] Inequality.org: http://inequality.org/

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