THE WEALTH OF THE THREE RICHEST FAMILIES IN THE U.S. GREW BY 6,000% SINCE 1982

The article behind this LINK reveals a revolting reality that substantiates the contention that capitalism is evil, unjust, and utterly contrary to and the antithesis of Biblical justice, and therefore should be abolished in favor of a modified form of socialism where equity is relevant.

An excerpt:  “The top three wealthiest billionaires in the US – Jeff Bezos, Bill Gates and Warren Buffett – now have as much wealth as the bottom half of the US population combined.

This is possible because the bottom fifth of US households are underwater, with zero or negative net worth. And the next fifth has so few assets to fall back on that they live in fear of destitution.

‘We’re developing into a plutocracy,’said the former Federal Reserve chairman Paul Volcker.

One troubling indicator that we are drifting toward a society governed by the wealthy is the expanding fortunes of multi-generational wealth dynasties.

The three wealthiest US families are the Waltons of Walmart, the Mars candy family and the Koch brothers, heirs to the country’s second largest private company, the energy conglomerate Koch Industries. These are all enterprises built by the grandparents and parents of today’s wealthy heirs and heiresses.

These three families own a combined fortune of $348.7bn, which is 4m times the median wealth of a U.S. family.”


Permanent link to this article: http://lacatholicworker.org/2018/11/23/the-wealth-of-the-three-richest-families-in-the-u-s-grew-by-6000-since-1982

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