TIME: The Top 1% Have Taken $50 Trillion from the Bottom 90%

Diane Ravitch's blog

This may be the most important article you read this year. The pandemic has exacerbated the huge inequality gaps that existed before the virus struck. Now we see millions of our fellow citizens out of work and sinking into poverty. Wealth inequality and income inequality are growing larger and more damaging by the day.

Venture capitalist Nick Hanauer and Seattle labor leader David Rolf demonstrate the vast transfer of wealth from the bottom 90% of our society to the top 1%. This is not good for our society. In fact, it’s horrible for our society because it creates widespread despair and hopelessness, as well as blighting the lives of our fellow citizens.

Here is a small part of the article. Open it and read it all.

They begin:

Like many of the virus’s hardest hit victims, the United States went into the COVID-19 pandemic wracked by preexisting conditions. A fraying…

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