The first step is to learn the facts, and then to get angry and to ask ourselves, as progressives and caring human beings, what we can do about the relentless transfer of wealth to a small group of well-positioned Americans.
1. $2.13 per hour vs. $3,000,000.00 per hour
Each of the Koch brothers saw his investments grow by $6 billion in one year, which is three million dollars per hour based on a 40-hour 'work' week. They used some of the money to try to kill renewable energy standards around the country.
Their income portrays them, in a society measured by economic status, as a million times more valuable than the restaurant server who cheers up our lunch hours while hoping to make enough in tips to pay the bills.
A comparison of top and bottom salaries within large corporations is much less severe, but a lot more common. For CEOs and minimum-wage workers, the difference is $5,000.00 per hour vs. $7.25 per hour.
2. A single top income could buy housing for every homeless person in the U.S.
On a winter day in 2012 over 633,000 people were homeless in the United States. Based on an annual single room occupancy (SRO) cost of $558 per month, any ONE of the 10 richest Americans would have enough with his 2012 income to pay for a room for every homeless person in the U.S. for the entire year. These 10 rich men together made more than our entire housing budget.
3. The poorest 47 percent of Americans have no wealth
At the other extreme, the 400 wealthiest Americans own as much wealth as 80 million families - 62 percent of America. The reason, once again, is the stock market. Since 1980 the American GDP has approximately doubled. Inflation-adjusted wages have gone down. But the stock market has increased by over 10 times, and the richest quintile of Americans owns 93 percent of it.
4. The U.S. is nearly the most wealth-unequal country in the entire world
Out of 141 countries, the U.S. has the 4th-highest degree of wealth inequality in the world, trailing only Russia, Ukraine and Lebanon.
Yet the financial industry keeps creating new wealth for its millionaires. According to the authors of the Global Wealth Report, the world's wealth has doubled in 10 years, from $113 trillion to $223 trillion, and is expected to reach $330 trillion by 2017.
5. A can of soup for a black or Hispanic woman, a mansion and yacht for the businessman
Minority families once had substantial equity in their homes, but after Wall Street caused the housing crash, median wealth fell 66 percent for Hispanic households and 53 percent for black households. Now the average single black or Hispanic woman has about $100 in net worth.
What to do?
Paul Buchheit is a college teacher, an active member of US Uncut Chicago, founder and developer of social justice and educational websites (UsAgainstGreed.org, PayUpNow.org, RappingHistory.org), and the editor and main author of "American Wars: Illusions and Realities" (Clarity Press). He can be reached at paul@UsAgainstGreed.org.