by Thom Hartmann
I believe it's time we reconsider the role billionaires play in our economy and our society. In fact, I say it's time we outlaw billionaires by placing a 100% tax on any wealth over $999,999,999. Trust me, we'll all be much better off in a nation free of billionaires.
Look around, the whole planet is in crisis. Europe is on the brink of collapse, the United States economy is sputtering out, freak climate-change induced weather is becoming more and more common, our streets are becoming the breeding grounds for social instability, and all the while there is a small cadre of very, very wealthy individuals -- billionaires -- who are sucking up more and more of the wealth that used to belong to working people.
Just consider these numbers: Post World War II, all income levels in America grew together, and the lowest income level -- the 20% poorest Americans -- actually grew at a faster rate that the top 20% wealthiest Americans. During this time, billionaires were few and far between in America as wealth was more evenly distributed.
But since Reagan , and since a new mentality was instilled in our culture that greed is good, and that the super-rich shouldn't be questioned or asked to sacrifice anymore for their nation, then income for the top has increased rapidly -- while actually falling for the bottom.
Since 1980, the top 1% has sucked up 80% of all the new wealth created. And, in 2010, the richest one percent of Americans received 93% of all of the new income earned that year.
And now there are over 400 billionaires in America. In fact, today, the richest 400 Americans -- all of whom are billionaires -- own more wealth than the bottom 150 million Americans COMBINED. The richest six members of the Sam Walton family -- heirs to the Wal-Mart fortune and, again, all billionaires -- own more wealth than the bottom 30 percent of Americans COMBINED.
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http://www.huffingtonpost.com/thom-hartmann/the-no-billionaires-campa_b_1666469.html
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