Adding to the mountain of statistical evidence showing the severity of U.S. inequality, an analysis published Friday found that the top one percent of Americans gained $21 trillion in wealth since 1989 while the bottom 50 percent lost $900 billion.
“We have the worst inequality in this country since the 1920s.”
—Rep. Pramila Jayapal (D-Wash.)
Matt Bruenig, founder of the left-wing think tank People’s Policy Project, broke down the Federal Reserve’s newly released “Distributive Financial Accounts” data series and found that, overall, “the top one percent owns nearly $30 trillion of assets while the bottom half owns less than nothing, meaning they have more debts than they have assets.”
The growth of wealth inequality over the past 30 years, Bruenig found, is “eye-popping.”
“Between 1989 and 2018, the top one percent increased its total net worth by $21 trillion,” Bruenig wrote. “The bottom 50 percent actually saw its net worth decrease by $900 billion over the same period.”
“Enormous crisis,” Rep. Pramila Jayapal (D-Wash.) tweeted in response to Bruenig’s analysis.
“We have the worst inequality in this country since the 1920s,” wrote Jayapal, co-chair of the Congressional Progressive Caucus. “Three wealthiest people in America have as much wealth as the bottom 50 percent.”
Vladimir Putin must be laughing out loud at the bungling Donald Trump’s crazy mess in Syria: Pulitzer-prize winning reporter
Vladimir Putin must be smiling – even laughing out loud -- at the bungling Donald Trump’s crazy mess in Syria.
Putin is the clear winner in Trump’s blood-soaked disaster. By tweeting without telling the generals his signal for Turkey to invade Syria, Trump forced American troops to flee half-eaten meals so they could escape alive. His inept (to be kind) actions then required our Air Force to bomb America’s weapons storage base in Northern Syria.
Separate and unequal train service returns on Trump’s Amtrak
Separate and unequal passenger rail travel is back at the behest of the Trump administration. Unlike the infamous 1896 Supreme Court decision known as Plessy, which denied African Americans travel in cars occupied by whites and relegated them to inferior rail cars, this new segregation is based solely on money.
Team Trump forced Amtrak to limit dining car access on four long haul routes to passengers who paid for roomettes. More routes will be affected in the future.
Those in the cheap seats are now barred from the dining cars.
Congress: Bill Barr should be investigated for 5 recent issues alone
When the smoke finally clears from the impeachment morass, we’ll still have the case of the Justice Department that Atty. Gen. William P. Barr has turned into a personal law firm to protect Donald Trump.
There have been almost daily developments showing that Barr’s Justice Department has been extending its efforts to provide both justifiable and legally questionable efforts to shield Trump, to pursue investigations into the actions of critics of the president and to interpret anything in the legal area in the president’s favor.
In short, Barr has become more Trump’s lawyer than America’s chief criminal law enforcement officer.