Oxfam warns Trump policies risk driving inequality to new heights – but Democrats have also exacerbated wealth gap
The collective wealth of the top 10 US billionaires has soared by $698bn in the past year, according to a new report from Oxfam America published on Monday on the growing wealth divide.
The report warns that Trump administration policies risk driving US inequality to new heights, but points out that both Republican and Democratic administrations have exacerbated the US’s growing wealth gap.
Using Federal Reserve data from 1989 to 2022, researchers also calculated that the top 1% of households gained 101 times more wealth than the median household during that time span and 987 times the wealth of a household at the bottom 20th percentile of income. This translated to a gain of $8.35m per household for the top 1% of households, compared with $83,000 for the average household during that 33-year period.
Where did they find $700b?
WHERE DID THEY FIND $700B?!?!
Hint: that averages out to almost $2000 per American.
I’m assuming they didn’t. Their finances are probably based on stocks, which are the most bullshit thing ever. Trumpo does something stupid, stocks fall, and millios of dollars just 🌈disapear🌈. Just like that. Where did they go? Nowhere! Duh! But wait, when money magically shows up on a good day that stocks go up, doesn’t that affect the economy lime printing more money? To be honest I do not know. But how dare you ask such things. Can’t you see that the answer to that question would deeply affect billionaires and all of those people who have never worked a real job in their life and pretend that trading has value?