Scott Santens

Since 1975, the top 1% took $50 trillion that otherwise would have gone to the bottom 90% had income continued rising with productivity like it used to.

https://time.com/5888024/50-trillion-income-inequality-america/

Now in just the past 2 years, the top 1% took two-thirds of all new wealth.

https://www.theguardian.com/inequality/2023/jan/16/oxfam-calls-for-new-taxes-on-super-rich-pocket-dollar-26tn-start-of-pandemic-davos

The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—And That's Made the U.S. Less Secure

A report shows that a $50 trillion redistribution of income to benefit the richest has made America less healthy, resilient, and secure

TIME
Jan 18, 2023 at 6:15pmWeb
Show threadScott SantensJan 18, 2023

Had incomes continued to rise with productivity, the bottom 90% of Americans right now would be earning an extra $1,144 a month. People ask me all the time where UBI comes from. Well that's it.

UBI is the share of national wealth growth that you stopped getting decades ago.

Show threadEdward T Hall IIIJan 18, 2023
@scottsantens yup - and pandemic assistance went straight to top income brackets, esp 1/10 of 1%
Show threadEdward T Hall IIIJan 18, 2023

@scottsantens closing middle class, mom n pop and replacing with hyper concentrated tech and mega corp monopolies

Extremely dangerous to our democracy