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As they accumulate more and more wealth, the very rich have less need for society. At the same time, they’ve convinced themselves that they made it on their own, and that contributing to societal needs is unfair to them. There is ample evidence that this small group of takers is giving up on the country that made it possible for them to build huge fortunes.

They’ve Taken $25 Trillion of New Wealth While Paying Less Taxes

The 2013 Global Wealth Databook shows that U.S. wealth has increased from $47 trillion in 2008 to $72 trillion in mid-2013. But according to U.S. Government Revenue figures, federal income taxes have gone DOWN from 2008 to 2012. Even worse, corporations cut their tax rate in half.

American society has gained nothing from its massive wealth expansion. There’s no wealth tax, no financial transaction tax, no way to ensure that infrastructure and public education are supported.

Just how much have the super-rich taken over the past five years? Each of the elite 5 percent — the richest 12 million Americans — gained, on average, nearly a million dollars in financial wealth between 2008 and 2013.

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Posted by James Poling

A socialist, tinkerer, thinker, question asker and all around curiosity seeker. If you'd like to reach me you can use the contact link above or email me at jamespoling [at] gmail [dot] com.

4 Comments

  1. Hey, don’t pick on the “hard working” 1% because they work very hard to continually fix the game so it’s heads they win and tails we lose.

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    1. How dare you ask for “help” feeding your family with the money we took from you. Hahahaha suckers.

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  2. Reblogged this on The Mind of Brosephus and commented:
    Imagine how much lower our debt would be if corporate personhood also meant they had to fund the government that protects them and give them the opportunity to screw the peasants?

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  3. […] else”, lost $669 billion while the rich managed to earn a whopping $5.6 trillion. Around $2 trillion of that was gained at the expense of others thanks to special tax breaks the wealthiest Americans enjoy […]

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