KSFR

Can Inequality Be Reversed In America?

Dec 2, 2018

 

Credit Polity Press
Credit Polity Press
                      Link to his new book below:https://inequality.org/great-divide/inequality-america-irreversible-2/ Can Inequality Be Reversed In America?  Author Chuck Collins joins us during this Wake Up Call interview with Host, MK to answer that question from his new book with the same title. We discuss just how bad it is, it’s  driving factors and what you can do to change it.  Just to entice you - check out these stats from his new book: How bad is it?  From 1970-2014 the bottom half of wage earners’ salary only experienced a $200 increase. From an average of $16,000 to $16,200. Over the same period, the incomes of the top 1 percent tripled, experiencing a gain of close to $1 million dollars at $900,000 from average annual wages of $400,000 to $1.3 million. Even within the top 1% there is extreme discrepancy between the the top .01% versus the remainder of the 1%. Between 1980 and 2013, the richest 1 percent saw their average real income increase by 142 percent, but the top one-tenth of 1 percent — increased by 236 percent. The 20 wealthiest billionaires — who could all fit into a Gulf-steam 650 luxury jet — have more wealth than the entire bottom half of the US population. How does race factor in?  In 2013, the median wealth of white households was an alarming 13 times greater than the median wealth of black households.  White households had 10 times more wealth than Latino households. The richest 100 billionaires have more wealth than the entire African American population with 42 million people.  The wealthiest 186 billionaires have as much wealth as the entire Hispanic population: more than 55 million people.