29 Amazing Stats Which Prove That The Rich Are Getting Richer And The Poor Are Getting Poorer
In the United States today, there is one group of people that is actually living the American Dream. The ultra-wealthy have seen their incomes absolutely explode over the past three decades. Meanwhile, the U.S. middle class has been steadily declining and the ranks of the poor have been swelling. But this is what always happens when an economy becomes highly centralized. Today, gigantic corporations and “too big to fail” banks totally dominate our economic system. The whole game is rigged. Our system is now designed to funnel wealth away from the bottom 90 percent of the population and into the pockets of the ultra-wealthy. When you allow a handful of giant entities to run everything, it is going to inevitably create a situation where there are a small number of very big winners and a massive amount of losers. In America today, the rich are getting richer and the poor are getting poorer. Yes, there will always be poor people. Yes, those that work really hard and produce something of great value for society should be greatly rewarded. The way that our system should work is that it should empower individuals and small businesses to come up with new ideas, start companies, create jobs and produce massive amounts of new wealth. But instead, the number of small businesses in America is rapidly declining. The giant banks and the giant corporations that run everything are constantly running around stomping all of the “little guys” out of existence. This has created an environment where the rich are constantly getting richer and the poor are constantly getting poorer.
Just take a look at banking. The “too big to fail” banks just keep getting bigger and bigger. Back in 2002, the top 10 U.S. banks controlled 55 percent of all U.S. banking assets. Today, the top 10 U.S. banks control 77 percent of all U.S. banking assets.
If you can believe it, the “big six” U.S. banks (Goldman Sachs, Morgan Stanley, JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo) now control assets equivalent to approximately 60 percent of America’s gross national product.
But this isn’t just the case in the financial world. The truth is that wherever you look big corporations are getting bigger. This has caused our economy to become very highly centralized, and these monolithic entities are basically gigantic magnets that suck up as much wealth and power as they can.
Meanwhile, life is getting really tough for the “average joe” on the street.
The following are 29 amazing stats that prove that the rich are getting richer and the poor are getting poorer in America….