Billions Of Reasons To Be Against Wealth Concentration

BY LOUIE OVERSTREET

The control of wealth in America is in the hands of slightly more than 900 billionaires and heads of 500 corporations. The combined wealth of the billionaires is $6.6 trillion and revenue generated by Fortune 500 companies is $20 trillion annually. 

The total amount paid out in wages to the entire American workforce of 170.7 million people is $11.7 trillion. 

Let’s talk about averages, before I list six harms caused by this concentration of wealth. 

Let’s start with 6.6 trillion divided by 900, meaning the average billionaire is worth about $7.3 billion. 

The annual average revenue for a Fortune 500 company is $40 billion. There are 170.7 million working stiffs generating $11.7 trillion annually, thus the average salary is $68,500. 

1. Billionaires, whose revenues are largely derived from passive income and with the president ruling corporations are people who can contribute untold amounts to campaigns, this combined group of 1,400 basically controls the infected body politic. 

2. A billionaire controls Bloomberg News, though its reporting is fairly balanced. However, Fox News paid out a huge sum for its false reporting and/or influencing public opinion in unhealthy ways. 

3. The wealth gap in America is not sustainable if more Americans fall below the poverty line, which is now $32,150 for a family of four. Frankly speaking, with no money, chances are good the poor will remain poor, uneducated, and totally controlled by the wealthy few, 

4. With the demonstrated ability to buy politicians, the super-rich are able to constantly raid the public till under the guise of a need to promote capitalism. 

5. The concentration of wealth allows for the status quo to be maintained, such as making sure the Constitution remains unchanged regarding the Electoral College and term limits. 

6. And the final harm I will list is the ability to cover up information from the public, such as the truth about the pandemic and the Epstein files. 

If you ain’t a billionaire, at least now you know where the harm is coming from!