Growing wealth inequality in the UK could be a “major driver of societal collapse” within the next decade, according to a new report.
Investor Vinod Khosla said universal basic income might be necessary as artificial intelligence takes on more of the work humans do.
The 40-year trickle-down delusion, fashioned by right-wing economists, politicians, and financial experts, has deprived average Americans of the means to support their families in a comfortable, debt-free manner. It was planned. It’s insidious. It’s ongoing. And it should outrage every last one of us.
“This inequality is no accident; the billionaire class is ensuring corporations deliver more wealth to them at the expense of everyone else,” said Oxfam’s interim executive director.
More than one-quarter of all household wealth, 26.5%, belongs to Americans who earn enough money to rank in the top percentile by income, according to Federal Reserve statistics through mid-2023.
In the United States, the richest 10 percent of households own more than 70 percent of the country’s assets.
