• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

SEN BERNIE SANDERS: Two Americas, the people vs. the billionaires

by December 27, 2024
written by December 27, 2024

It’s hard to miss.

Our country is rapidly evolving into two Americas.

One America consists of less than a thousand billionaires who have an unprecedented amount of wealth and power and have never ever had it so good.  

The other America, where the vast majority live, consists of tens of millions of families who are struggling to put food on the table, pay their bills and worry that their kids will have a lower standard of living than they do. 

In the first America, the uber-wealthy buy $500 million yachts with helicopter pads, $270 million mansions with 30 bedrooms, private islands, a fleet of jets to take them all over the world and rocket ships that blast off to the edge of outer-space. They receive the best health care money can buy, send their kids to the best schools and can expect to live very long lives.

In this America, the three wealthiest men (Elon Musk, Jeff Bezos and Mark Zuckerberg) own more wealth than the bottom half of our society – over 165 million people. And their wealth is skyrocketing. Musk, alone, is now worth over $450 billion and, combined, these three men are worth $955 billion. 

And it is not just these three men. The top 1% now own more wealth than the bottom 90% – and the gap between the very rich and everyone else is growing wider every day.

In the other America, the working class struggles just to provide for the basic necessities of life. In this America, over 60% of our people live paycheck to paycheck, millions work for starvation wages, 85 million are uninsured or underinsured, more than 20 million households spend over half of their limited incomes on rent or a mortgage and over 60,000 die each year because they can’t afford to go to a doctor on time. 

In this America, 25% of our seniors try to survive on less than $15,000 a year and parents try to raise their kids in a nation that has the highest rate of childhood poverty of almost any major country on earth. And, because of stress and inadequate health care, working people live far shorter lives than the rich.

In this America, workers are scared to death that if your car breaks down, if your kid gets sick, if your landlord raises the rent, if you get divorced, if you become pregnant, if for whatever reason you lose your job, you will find yourself in the midst of a financial catastrophe.

But let’s be clear. Our country is not just experiencing an unprecedented level of income and wealth inequality. Today, we also have more concentration of ownership than we have ever had.  

In sector after sector – health care, agriculture, financial services, energy, transportation – a handful of giant corporations control what is produced and how much we, as consumers, pay for their products. Unbelievably, just three Wall Street firms (BlackRock, Vanguard and State Street) control assets of more than $22 trillion. These three Wall Street firms are the major shareholders in about 95% of S&P 500 companies, exerting enormous control over the largest corporations in the world.

And that’s not all.   

Never before in American history have so few media conglomerates, all owned by the billionaire class, had so much influence over the public. It is estimated that six huge media corporations now own 90% of what the American people see, hear and read. This handful of corporations determines what is ‘important’ and what we discuss, and what is ‘unimportant’ and what we ignore.

If you use a social media account to get your news, chances are it is owned by billionaires Musk, Zuckerberg or Trump. If you read the Washington Post, Fox or the Los Angeles Times, your news is owned by billionaires Bezos, Murdoch or Patrick Soon-Shiong.

But it’s not just the billionaire ownership and control over the economy and the media that should concern us. The uber-rich are also buying our government and undermining American democracy.

Never before in American history have we seen a ruling class with so much political power. As a result of the disastrous Citizens United Supreme Court decision, billionaires and their super-PACs can spend unlimited sums of money on political campaigns.  

And that’s exactly what they are doing. During the 2024 election cycle, just 150 billionaires spent nearly $2 billion to buy politicians who support their agenda and to defeat candidates who oppose their special interests. Billionaires who represent just .0005% of our population accounted for 18% of total campaign spending. 

That is not democracy. That is not one person, one vote. That is not what this country is supposed to stand for. In his Gettysburg Address in 1863, President Abraham Lincoln spoke about ‘a government of the people, by the people, for the people.’ Well, today, we have a government of the billionaire class, by the billionaire class, for the billionaire class.’ 

We are in a pivotal and unprecedented moment in American history. Either we fight to create a government and an economy that works for all, or we continue to move rapidly down the path of oligarchy and the rule of the super-rich.

The choice is clear. We must stand together for democracy and justice.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
‘Greater reckoning’: Obama’s spot in the Democratic sun fading after Harris loss
next post
Joe Biden poses with Hunter’s Chinese business associates in newly surfaced photos: ‘Incredibly damning’

related articles

Mike Johnson, Marjorie Taylor Greene clash in heated...

October 28, 2025

Trump dangles ‘big as you get’ carrot in...

October 28, 2025

Everything you need to know about Election Day...

October 28, 2025

House Democrats accuse Trump of trying to ‘steal’...

October 28, 2025

Trump predicts ‘very happy’ outcome ahead of face-to-face...

October 28, 2025

Schumer again blocks GOP bid to reopen government...

October 28, 2025

Trump files ‘powerhouse’ appeal in ‘politically charged’ Manhattan...

October 28, 2025

Trump rallies US military’s might, floats armed forces...

October 28, 2025

Flight delays worsen as unpaid air traffic controllers...

October 28, 2025

Obama was ‘not happy’ with quick Pelosi endorsement...

October 28, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • How new professional sports leagues like SailGP are putting women at the fore

    March 20, 2025
  • Putin threatens war with NATO as Russian military aircraft spotted off Alaska

    September 13, 2024
  • ‘Squad’ members ‘decide to lie and twist facts’ about Israel’s history, says prominent Arab activist

    July 15, 2025
  • ‘Due to overhelming support:’ Turning Point USA says Charlie Kirk merchandise could take up to 12 weeks

    September 22, 2025
  • Supreme Court showdown: Trump’s strategy to test limits of his power could spell doom for administrative state

    September 29, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,575)
  • Investing (634)
  • Stock (945)

Latest Posts

  • McDonald’s is the latest company to roll back diversity goals

    January 7, 2025
  • SCOOP: House fiscal hawks warily accept Senate’s $9B Trump spending cuts package

    July 17, 2025
  • Trump signs late-night executive order abolishing handful of federal advisory boards

    February 20, 2025

Recent Posts

  • Here are the agencies that followed Musk’s DOGE productivity email verdict – and the ones that didn’t

    February 25, 2025
  • LG Electronics India, CATL, and other major Asian IPOs to watch out for in 2025

    January 6, 2025
  • Schumer moves to block Trump DOJ nominees as he seeks answers on Qatari jet to Defense Department

    May 13, 2025

Editor’s Pick

  • Amazon’s Zoox robotaxi unit issues software recall after recent Las Vegas crash

    May 6, 2025
  • Hamas agrees to release 10 more hostages

    May 31, 2025
  • Blinken postpones Middle East visit over security concerns, anticipated Iranian retaliation

    August 13, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock