There is something wrong here department! How to justify a situation where a mere 14 people in the USA made more money then the entire Food Stamp Budget for 50 million people (yes, you read that correctly!). CommonDreams explains it all....
"For the second year in a row, America's richest 14 individuals made more from their annual investments than the $80 billion provided for people in need of food. Nearly half of the food-deprived are children. Perversely, the food stamp program was CUT because of a lack of federal funding.
In a testament to the inability -- or unwillingness -- of Congress to do anything about the incessant upward re-distribution of America's wealth, the richest 14 Americans increased their wealth from $507 billion to $589 billion in ONE YEAR from their investment earnings. As stated by Forbes, "All together the 400 wealthiest Americans are worth a staggering $2.29 trillion, up $270 billion from a year ago."
The Richest 14 Made Enough Money to Hire Two Million Pre-School Teachers or Emergency Medical Technicians
Billions of dollars of wealth, derived from years of American productivity, have been transferred to a few financially savvy and well-connected individuals who have spent a generation shaping trading rules and tax laws to their own advantage. It's so inexplicably one-sided that the 2013 investment earnings of the richest 1% of Americans ($1.8 trillion) was more than the entire budget for Social Security ($860 billion), Medicare ($524 billion), and Medicaid ($304 billion).
Why Does So Little of Our National Wealth Go to Feed People or Provide Jobs?
The fruits of American productivity go to the richest Americans, who can afford to hold onto their fortunes, defer taxes indefinitely, and then pay a smaller capital gains rate when they eventually decide to cash in. Worse yet, they can stash their winnings overseas, tax-free. It is estimated that $7.6 trillion of personal wealth is hidden in tax havens. That means, stunningly, that $1 of every $12 of worldwide wealth is hidden in a haven.
America has no wealth tax, no financial speculation tax, no means of stopping the rampant redistribution of money to the rich. As Noam Chomsky said, The concept of the Common Good that is being relentlessly driven into our heads demands that we focus on our own private gain, and suppress normal human emotions of solidarity, mutual support and concern for others.
Who Are These People Taking All the Big Money?
A review of the richest 20 shows that opportunism and ruthless business practices and tax avoidance, rather than entrepreneurship, vaulted these individuals to the top."
Continue reading here - to see who those 14 people are.
"For the second year in a row, America's richest 14 individuals made more from their annual investments than the $80 billion provided for people in need of food. Nearly half of the food-deprived are children. Perversely, the food stamp program was CUT because of a lack of federal funding.
In a testament to the inability -- or unwillingness -- of Congress to do anything about the incessant upward re-distribution of America's wealth, the richest 14 Americans increased their wealth from $507 billion to $589 billion in ONE YEAR from their investment earnings. As stated by Forbes, "All together the 400 wealthiest Americans are worth a staggering $2.29 trillion, up $270 billion from a year ago."
The Richest 14 Made Enough Money to Hire Two Million Pre-School Teachers or Emergency Medical Technicians
Billions of dollars of wealth, derived from years of American productivity, have been transferred to a few financially savvy and well-connected individuals who have spent a generation shaping trading rules and tax laws to their own advantage. It's so inexplicably one-sided that the 2013 investment earnings of the richest 1% of Americans ($1.8 trillion) was more than the entire budget for Social Security ($860 billion), Medicare ($524 billion), and Medicaid ($304 billion).
Why Does So Little of Our National Wealth Go to Feed People or Provide Jobs?
The fruits of American productivity go to the richest Americans, who can afford to hold onto their fortunes, defer taxes indefinitely, and then pay a smaller capital gains rate when they eventually decide to cash in. Worse yet, they can stash their winnings overseas, tax-free. It is estimated that $7.6 trillion of personal wealth is hidden in tax havens. That means, stunningly, that $1 of every $12 of worldwide wealth is hidden in a haven.
America has no wealth tax, no financial speculation tax, no means of stopping the rampant redistribution of money to the rich. As Noam Chomsky said, The concept of the Common Good that is being relentlessly driven into our heads demands that we focus on our own private gain, and suppress normal human emotions of solidarity, mutual support and concern for others.
Who Are These People Taking All the Big Money?
A review of the richest 20 shows that opportunism and ruthless business practices and tax avoidance, rather than entrepreneurship, vaulted these individuals to the top."
Continue reading here - to see who those 14 people are.
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