America’s 400 richest elites have more wealth than half the population. Jacob Kornbluth’s new documentary film “Inequality for All” examines disturbing truths.
US inequality is at historic highs. Since 1970, America’s economy doubled. The top 1% benefited hugely. They earn more than 20% of national income. It’s triple their 1970 percentage.
The gap between rich and all others keeps widening. Inequality hurts everyone, says Reich. Since economic recovery began in 2009, America’s top 1% got 95% of the gains.
Adjusted for inflation, median household income keeps declining. Where will most people “get the money they need to keep the economy going,” asked Reich?
“We’re the richest economy in the history of the world. For the majority of Americans not to get the benefits of this extraordinarily prosperous economy, you know, there’s something fundamentally wrong.”