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The Rich get Richer

Paul Buchelt’s latest book is, Disposable Americans: Extreme Capitalism and the Case for a Guaranteed Income.

At Common Dreams, he writes—Morbid Inequality: Now Just SIX Men Have as Much Wealth as Half the World's Population:

How rich are they?

Journalism Group Releases Full List Of People, Companies Named In 'Panama Papers'  "The database released today includes the names of more than 7,000 entities from the United States." and Trump's name is included ...read more

Six of the Walton’s (heirs of the Walmart chain of stores), have a worth of over 100 billion dollars. 

From Politifact.com :

“Six members of the Walton family appear on the Forbes 400 list of the wealthiest Americans. Christy Walton, widow of the late John Walton, leads the clan at No. 6 with a net worth of $25.3 billion as of March 2012. She is also the richest woman in the world for the seventh year in a row,

according to Forbes. Here are the other five:

No. 9: Jim Walton, $23.7 billion
No. 10: Alice Walton, $23.3 billion
No. 11: S. Robson Walton, oldest son of Sam Walton, $23.1 billion

No. 103: Ann Walton Kroenke, $3.9 billion
No. 139: Nancy Walton Laurie, $3.4 billion”

They (Politifact) were checking on the statement “Bernie Sanders says Walmart heirs own more wealth than bottom 40 percent of Americans ”

 

If we look at the rich on a world wide scale, just the richest 100 people, 25% of their income, not their wealth including assets, just the income of the richest 100 people would eliminate extreme poverty of all the world. No longer would children starve to death or go their entire life never knowing what a clean glass of water would look like. Let me put this in a different way.  Of the 26 richest people in the world, 15 of them live in the US. These 26 people could wipe out extreme poverty in the world with just their income and every year they would have an equal amount of income from their investments and assets to do this again.  These 26 people would still have enough left over to still live in luxury.

 

Let us look at one more aspect of the rich.  In our last election, the Presidential campaign, Mitt Romney revealed that he had 250 Million Dollars in an offshore account.  This may seem like a lot for you and I, but this is just the tip of iceberg,

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