Cit­ing New Billionaires List, San­ders Says Congress Must Act on ‘Ob­scene’ Wealth Gap

Stanstead Journal - - FROM PAGE ONE -

U. S. Sen. Bernie San­ders (I-Vt.) said last Satur­day that the “in­cred­i­ble and ob­scene” level of in­come and wealth in­equal­ity in Amer­ica has be­come a dan­ger to our eco­nomic and po­lit­i­cal sys­tems – and must be ad­dressed.

Ac­cord­ing to a new Forbes mag­a­zine tally, the 400 wealth­i­est Americans are now worth $2.29 tril­lion. Their com­bined wealth grew last year by $270 bil­lion – a 13 per­cent in­crease. Th­ese billionaires now own more wealth than the bot­tom half of Amer­ica – more than 150 mil­lion peo­ple.

While the very rich be­come richer, most Americans have be­come poorer. Me­dian fam­ily in­come has de­clined by almost $5,000 since 1999 and more than half of the Amer­i­can peo­ple have less than $10,000 in sav­ings.

“Never be­fore in the mod­ern his­tory of our coun­try have so few had so much and so many had so lit­tle. This in­cred­i­ble and ob­scene level of wealth and in­come in­equal­ity is a grave dan­ger to our econ­omy and our po­lit­i­cal sys­tem,” San­ders said.

“Congress must sum­mon the courage to take on their big money cam­paign con­trib­u­tors and pass leg­is­la­tion that asks the wealthy to start pay­ing their fair share of taxes and over­turns the dis­as­trous Supreme Court decision on Cit­i­zens United.”

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.