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5 Facts That Show the Enormity of US Inequality
Well-off Americans have quietly conspired for over 40 years to transfer the riches to themselves, leading to a state of inequality that leaves the entire bottom half of our country with only about 2.5% of total national wealth.
Jul 12, 2025
The Trump administration wants us to believe that lower-income Americans, especially Medicaid recipients, are the biggest drain on the country's wealth. That couldn't be further from the truth.
Well-positioned Americans have quietly conspired for over 40 years to transfer the riches to themselves, leading to a state of inequality that leaves the entire bottom half of our country with only about 2.5% of total national wealth.
Whatever wealth exists among America's poor should not be taken away because of some ignorant prejudice of the rich. Following are some of the insidious effects of greed and blame-passing.
1. The Richest 1% Have Transferred a Third of America's Wealth From the Bottom 90% to Themselves
A Time report, referring to a Rand study, estimated that "the cumulative tab for our four-decade-long experiment in radical inequality... crossed the $50 trillion mark by early 2020."
To put $50 trillion in perspective, total U.S. wealth at the end of 2023 was about $150 trillion.
Elon Musk is leading the prospective trillionaires with over $400 billion at the end of June, 2025.
Yet with all this wealth rising to the top, American billionaires, according to economist Gabriel Zucman, have an effective tax rate of 8%.
2. Taxes Owed on Decades of Stock Market Gains Will Be Wiped Out When the Rich Kids Inherit the Wealth
In a blatant example of a system exploited by the wealthy, the tax code includes a so-called stepped-up provision which allows the super-rich to leave much of their multi-trillion-dollar stock market fortunes to their children with all the accumulated gains magically erased, and thus, in many instances, without a single dollar in taxes coming due.
It is estimated that by the middle of this century anywhere from $84 to $124 trillion in assets will be transferred to heirs, much of which will qualify for the tax-free stepped-up provision. So much for our meritocracy.
3. The Richest 1% Have Enough Money to Buy Almost ALL the Houses in America
A Redfin report explains: "The combined value of nearly 100 million U.S. homes reached $49.7 trillion at the end of 2024, while the combined net worth of America's wealthiest 1% has grown to a record $49.2 trillion."
4. The World's Richest 1% (40% of Whom are Americans) Emit as Much Pollution as Two-Thirds of Humanity
Oxfam summarizes: "The richest 1% of the world's population produced as much carbon pollution in 2019 than the 5 billion people who made up the poorest two-thirds of humanity."
5. The Poor Are Being Systematically Diminished
After 40 years of growing inequality, the "Big Beautiful Bill" is about to make it even worse.
Almost 12 million Americans are expected to lose healthcare coverage with the trillion-dollar Medicaid cuts. Major health research cuts are planned for the National Institutes of Health and the Centers for Disease Control and Prevention.
Most damaging could be the impact on the kids. Even though nearly 1 out of 5 households with children in America experiences food insecurity, the administration is cutting the Supplemental Nutrition Assistance Program (SNAP) by a quarter-trillion dollars over the next decade. A Propublica report states: "The staff of a program that helps millions of poor families keep the electricity on, in part so that babies don't die from extreme heat or cold, have all been fired. The federal office that oversees the enforcement of child support payments has been hollowed out. Head Start preschools, which teach toddlers their ABCs and feed them healthy meals, will likely be forced to shut down en masse.."
And at a time when young students are struggling to deal with the pressures of a social networking society, the administration is cutting over a $1 billion in youth mental health funding.
The poor seem to have nowhere to turn. A Vera report explains: "Almost every state has at least one law that bans activities people experiencing homelessness engage in simply to survive. Laws that prohibit panhandling, loitering, living in vehicles, or sharing food and water in public spaces all discriminate against people experiencing homelessness, as authorities eject them from public spaces, confiscate and destroy their property, and transport them to mass shelters and jails."
The Republican Response
U.S. Vice President JD Vance shrugged off the "minutiae of the Medicaid policy." President Donald Trump agreed that Republicans were "not doing any cutting of anything meaningful."
But just in case the cuts turn out to be meaningful for Americans, Sen. Mitch McConnell (R-Ky.) assures us that they'll "get over it."
In Trump's world of wealth and status, tolerance for poor Americans has turned into an ugly sense of disdain.
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'Hospital Crisis Watch' Tracks Healthcare Center Closures Under Trump-GOP Budget Law
"Donald Trump and Republicans just sacrificed hospitals and lifesaving care for millions so they could hand out massive tax breaks to billionaires."
Jul 11, 2025
A healthcare advocacy group launched a project Thursday aimed at tracking hospital closures under the recently enacted Trump-GOP budget law, whose unprecedented cuts to Medicaid could force clinics across the United States to cut services or shut down entirely in the near future.
More than 700 rural hospitals, which rely heavily on Medicaid reimbursements, were already in dire financial straits prior to passage of the Republican budget package, which includes more than $1 trillion in Medicaid cuts. The new law is expected to push many struggling facilities over the edge.
"The consequences of this Republican bill are playing out in real time," said Protect Our Care, the advocacy organization behind new project, titled Hospital Crisis Watch. Earlier this month, a clinic in a rural Nebraska community announced that it would soon shut its doors, citing "anticipated federal budget cuts to Medicaid" as a major factor.
One analysis by researchers at the University of North Carolina at Chapel Hill estimates that more than 330 hospitals in rural areas across the U.S. are at risk of closing or curbing their services due to the Republican assault on Medicaid.
"With Hospital Crisis Watch, we're exposing the full scale of harm Republicans are inflicting on America's healthcare system."
Protect Our Care noted that Medicaid "accounts for one-fifth of spending on hospitals, one-fifth of hospital discharges, and at least one in five inpatient days in nearly every state."
" Donald Trump and Republicans just sacrificed hospitals and lifesaving care for millions so they could hand out massive tax breaks to billionaires," said Brad Woodhouse, the president of Protect Our Care. "This GOP bill won't just hurt people who rely on Medicaid or the Affordable Care Act—it rips care from everyone who depends on the hospitals, clinics, and nursing homes that will shut their doors as a result."
"With Hospital Crisis Watch, we're exposing the full scale of harm Republicans are inflicting on America's healthcare system—community by community, hospital by hospital," Woodhouse added. "The public deserves to know who's responsible, and we won't stop until Trump and Republicans are held accountable."
The project comes as hospital officials and healthcare experts are increasingly sounding the alarm about the looming impact of the Trump-GOP Medicaid cuts.
"What this does is put us at risk when the respiratory season hits," Benjamin Anderson, CEO of Hutchinson Regional Healthcare System, told NBC News earlier this week, saying the Medicaid cuts ensure that the 180-bed hospital his organization oversees will have to continue its hiring freeze.
"We're at real risk of wearing out the staff we have right now," Anderson warned.
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'A Slap in the Face': Missouri's GOP Governor Repeals Voter-Approved Paid Sick Leave
"The governor's action today demonstrates the absolute disdain Republicans have for working Missourians."
Jul 11, 2025
Missouri's Republican governor on Thursday signed legislation repealing the paid sick leave portion of a ballot measure that the state's voters approved with nearly 60% support in the 2024 election.
The short-lived provision, which will officially be repealed on August 28, required Missouri employers to provide workers with an hour of paid sick time for every 30 hours of work. Businesses with 15 or more employees were required to provide up to 56 hours of earned paid sick time per year, and businesses with fewer than 15 employees were required to provide at least 40 hours of paid sick time.
The Missouri Budget Project estimated before its passage that the ballot measure's paid sick leave benefits would reach 728,000 private-sector workers in the state.
The bill that Republican Gov. Mike Kehoe signed Thursday, known as H.B. 567, also restricts increases in the state's minimum wage. The voter-approved initiative called for raising the state's minimum wage to $15 an hour in 2026 and indexing it to inflation thereafter. H.B. 567 eliminates the inflation adjustment.
The Missouri Chamber of Commerce and Industry, a business lobbying group, characterized H.B. 567 as its top legislative priority. The bill was led by state Rep. Sherri Gallick (R-62) and state Sen. Mike Bernskoetter (R-6).
Kehoe's Facebook post announcing his signature was deluged with comments from Missourians decrying the governor's decision to overturn the will of the public.
"We the people collected signatures," wrote one commenter. "We voted. And we passed Prop A into law. Remember you work for us. How dare you reverse the voice of your people?! The people you took an oath to serve."
Missouri Jobs With Justice, which helped lead the campaign for the ballot measure, said in a statement that "with Governor Kehoe's decision to sign H.B. 567 into law, workers will again face increased economic insecurity when balancing being sick with maintaining their job."
The group noted that Kehoe's support for repealing paid sick leave came after he "recently called a special session to approve spending millions of taxpayer dollars to subsidize billionaire-owned stadiums." On Thursday, Kehoe also signed legislation slashing the state's capital gains tax.
"Simply put, Missouri workers and their families do not deserve to see their newly earned paid sick leave stripped away," said Missouri Jobs With Justice. "Not only is this a slap in the face to workers asking for an opportunity to earn paid sick leave, it’s an insult to over 57% of Missourians who voted for Proposition A in November."
Throughout the process of pushing H.B. 567 through the Legislature, Missouri Republicans openly voiced contempt for voters who supported the paid sick leave and minimum wage initiative. One GOP lawmaker, state Rep. Mitch Boggs, said, "Of course the people voted for it."
"It'd be like asking your teenager if he wanted a checkbook," said Boggs.
State Rep. Ashley Aune (D-14), the Democratic leader in the Missouri House, said Thursday that "the governor's action today demonstrates the absolute disdain Republicans have for working Missourians."
"But in stripping workers of their legal right to earned sick leave," Aune added, "the governor and his allies have probably guaranteed this issue will be back on the ballot next year as a constitutional amendment that will place worker protections beyond their reach."
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