Scott SantensJan 18, 2023

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
vegasmickJan 18, 2023
Show threadScott Santens

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.

Jan 18, 2023 at 6:15pmWeb