Sunday, May 26th, 2019

20 Super Wealthy Individuals Have More Money Than The Poorest 152 Million Americans Combined

Published on December 10, 2015 by   ·   No Comments

Inequality

Michael Snyder

Do we need any more evidence before we will finally admit that the middle class in America is being systematically destroyed? As you will see below, when you add together all of the wealth of the poorest 152 million Americans, it still falls short of the combined net worth of the 20 wealthiest Americans. This is a list that includes Bill Gates, Warren Buffett and Mark Zuckerberg.

To many, the core of the problem is that people like Gates and Buffett are making too much money. But I disagree. There is nothing wrong with working hard, building a company and making lots of money. The real problem is the fact that the bottom half of the country is steadily getting poorer. Once upon a time, this nation had the healthiest and most vibrant middle class in the history of the world, but now that middle class is dying. If we don’t do something about this, soon we may not have much of a middle class left.

When I was growing up in the 1980s, it seemed like virtually everyone was middle class. I didn’t know of any family that had a father that was unemployed, everyone seemed to have a house and a couple of cars, and no kid that I went to school with could have been described as “impoverished”. Yes, life was definitely not perfect, but it seemed to me that pretty much everyone was able to maintain a decent standard of living.

Sadly, things have dramatically changed since then. Yes, the wealthy have gotten wealthier, but at the same time the ranks of the impoverished have absolutely exploded. At this point, 20 extremely wealthy individuals have more money than the poorest 152 million Americans combined

The richest 20 Americans, with a combined net worth of $732billion, are as wealthy as half of the U.S. population, according to a new study.

Read More HERE

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