The slow-rolling demise of Twitter has confirmed extra clearly than something that uncontrolled wealth is poisonous. For no different purpose than he may, Elon Musk spent $44 billion on Twitter after which proceeded to burn it to the bottom. As a result of he may.
That’s the intense model of billionaire psychopathy and all the pieces mistaken with wealth distribution in our society, so it makes a helpful leaping off level for this dialogue: how a lot richer the wealthy have gotten in recent times and the way broad the earnings hole has develop into even because the Trump tax rip-off.
“Final 12 months the 237,000 highest paid workers in America collectively made more cash than the bottom paid 60 million staff,” David Cay Johnson discovered in his evaluation of the most recent federal wage statistics. These 237,000 folks made $659.3 billion simply final 12 months. The 60 million folks on the backside of the wage sale earned $628.3 billion, collectively.
“Million greenback and up positions are the fasted rising jobs in America each in development charge and pay,” Johnston discovered. “And the speed of development is accelerating.” In 30 years, the “govt class” making greater than $1 million has grown 325%, whereas the remainder of the job pressure has elevated by simply 33%.