Are you missing 17K? [View all]

[packman]

".. multi-millionaires effectively shifted nearly $4 trillion in wealth away from the rest of the nation to themselves in 2016. While there’s no need to offer condolences to the rest of the top 10 percent, who still have an average net worth of $1.3 million, nearly half of the wealth transfer ($1.94 trillion) came from the nation’s poorest 90 percent — the middle and lower classes, according to Piketty and Saez and Zucman. That’s over $17,000 in housing and savings per lower-to-middle-class household lost to the super-rich.

Put another way, the average 1 percent household took an additional $3 million of our national wealth in one year while education and infrastructure went largely unfunded.

It gets worse: Each middle-class household lost $35,000 to the 1 percent"

HOW ? Basically destroying the housing market, attacking wages, plundering tax bases in small towns, etc., etc. Author of article gives the example of Lancaster, Ohio as a town (that voted for Trump) as being a victim of destructive capitalism.

The enemy, I believe more and more, isn't the Republicans or the right- it is capitalism which sucks out the life and security of the average American who cannot see that force acting on them and then blaming the left for all their woes.

The old Bible quote:

I tell you that to everyone who has, more will be given, but from the one who has not, even what he has will be taken away.

http://extragoodshit.phlap.net/index.php/how-90-percent-of-american-households-lost-an-average-of-17000-in-wealth-to-the-plutocrats-in-2016/#more-400265