Wealth Inequality Is Putting the US on Course for a Showdown
By Klaus Marre
The richest 20 Americans now own as much wealth as the country’s poorest 152 million people combined.
That is just one of the findings of noted inequality scholar and author Chuck Collins’s most recent report, “Billionaire Bonanza, The Forbes 400 and the Rest of Us.”
In a wide-ranging interview, which will be available in its entirety as a podcast tomorrow, Collins likened the current situation to the “Gilded Age,” the time just before the turn of the 20th century, when there was a similar accumulation of wealth at the top and political power was concentrated in the hands of a few rich men.
And Americans are slowly realizing that the extreme accumulation of wealth at the very top is hurting their own prospects. But grassroots efforts to redress economic inequality must…
View original post 541 more words