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Our country is rapidly developing into two Americas.
America is made up of less than a thousand billionaires with unprecedented wealth and power, and it has never been better.
President Donald Trump and Elon Musk (Getty Images)
Other Americas, where most people live It includes tens of millions of families struggling to put food on the table, pay bills and worry about their children. Their standard of living will be lower than they are.
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in early America Wealthy people buy $500 million yachts with helicopter pads, $270 million 30-bedroom mansions, private islands, fleets of jets that take them around the world. and rocket ships hurtling toward the outer edge of space. They receive the best health care money can buy, send their children to the best schools, and expected to have a very long life
In this America, the three richest men (Elon Musk, Jeff Bezos, and Mark Zuckerberg) own more wealth than the bottom half of our society. That’s more than 165 million people, and their wealth is skyrocketing. Musk alone is now worth more than $450 billion. And when combined These three men are worth $955 billion.
And it’s not just these three. The top 1% now own more wealth than the bottom 90%, and the gap between the ultra-rich and everyone else is even greater. It’s getting wider every day.
In another America, the working class struggles just to provide the basic necessities of life. In this America, more than 60% of our people live paycheck to paycheck. Millions of people work for starvation wages, 85 million are uninsured or underinsured, more than 20 million households spend more than half of their limited income on rent or a mortgage, and more than 60,000 people in each family Died due to not being able to see the doctor in time
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Here in America, 25% of our seniors struggle to survive on less than $15,000 a year, and parents struggle to raise their children in a country that has the highest rate of childhood poverty of almost every major country in the world. and due to stress and inadequate health care Working people therefore have a much shorter lifespan than rich people.
In America, workers are scared to death that if your car breaks down, If your child is sick If your landlord increases the rent If you are divorced If you are pregnant If you lose your job for any reason, you will find yourself in the middle of a financial disaster.
But let’s be clear: Our country isn’t just experiencing unprecedented levels of income and wealth inequality. Today we also have more concentrated ownership than ever before.
In each sector – healthcare, agriculture, financial services, energy, transportation – a handful of giant corporations control what is produced and how much we as consumers pay for their products. It’s hard to believe there are only three Wall Street companies (Black RockVanguard and State Street) control more than $22 trillion in assets. These three Wall Street firms are major shareholders in approximately 95% of S&P 500 companies, exerting enormous control over the world’s largest companies.
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And that’s not all.
Never before in American history have so few media conglomerates owned by billionaires wielded so much influence over the public. It’s estimated that six large media companies own 90% of what Americans see, hear, and read. A handful of these companies determine what’s “important” and what we talk about, and what’s “not.” important” and what we ignore
If you use social media accounts to get news Chances are it’s owned by billionaire Musk, Zuckerberg, or Trump. If you read the Washington Post, Fox, or the Los Angeles Times, your news is owned by billionaires like Bezos, Murdoch, or Patrick Soon-Shiong.
But it’s not just billionaires’ ownership and control of the economy and media that should concern us. Rich people are also buying up our government and undermining American democracy.
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We have never seen a ruling class with this much political power in American history. As a result of the disastrous Citizens United Supreme Court decision, billionaires and Super-PACs can spend unlimited amounts of money on political campaigns.
And that is exactly what they are doing. During the 2024 election, just 150 billionaires spent nearly $2 billion on politicians supporting their electoral agendas. and to defeat candidates who oppose their special interests. Billionaires, who represent just .0005% of our population, account for 18% of all campaign spending.
That’s not democracy. That’s not one person, one vote. That’s not what this country should stand for. In his Gettysburg Address in 1863, President Abraham Lincoln spoke of “a government of the people, by the people, for the people.” Today we have a government of the billionaire class. Divided by class of billionaires For the billionaire class”
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We are at a pivotal and unprecedented time in American history. Regardless, we fight to create a government and economy that works for everyone. Or will we continue quickly on the path of oligarchy and rule of the ultra-rich?
The choice is clear. We must stand together for democracy and justice.
Click here to read more from SEN Bernie Sanders.
