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20 Super Wealthy Individuals Have More Money Than The Poorest 152 Million Americans Combined

Original newz story - Click here

By Michael Snyder, on December 7th, 2015

Do we need any more evidence before we will finally admit that the middle class in America is being systematically destroyed? As you will see below, when you add together all of the wealth of the poorest 152 million Americans, it still falls short of the combined net worth of the 20 wealthiest Americans. This is a list that includes Bill Gates, Warren Buffett and Mark Zuckerberg. To many, the core of the problem is that people like Gates and Buffett are making too much money. But I disagree. There is nothing wrong with working hard, building a company and making lots of money. The real problem is the fact that the bottom half of the country is steadily getting poorer. Once upon a time, this nation had the healthiest and most vibrant middle class in the history of the world, but now that middle class is dying. If we don’t do something about this, soon we may not have much of a middle class left.

When I was growing up in the 1980s, it seemed like virtually everyone was middle class. I didn’t know of any family that had a father that was unemployed, everyone seemed to have a house and a couple of cars, and no kid that I went to school with could have been described as “impoverished”. Yes, life was definitely not perfect, but it seemed to me that pretty much everyone was able to maintain a decent standard of living.

Sadly, things have dramatically changed since then. Yes, the wealthy have gotten wealthier, but at the same time the ranks of the impoverished have absolutely exploded. At this point, 20 extremely wealthy individuals have more money than the poorest 152 million Americans combined

The richest 20 Americans, with a combined net worth of $732billion, are as wealthy as half of the U.S. population, according to a new study.

Findings showed that the country’s 20 wealthiest people, which includes Bill Gates and Warren Buffet, now own more wealth than the bottom half of the population combined or 152 million people.

The study by the Institute for Policy Studies also found that America’s wealthiest 400, with a combined net worth of $2.34 trillion, own more wealth than that of a staggering 194 million people – the bottom 61 per cent of the country combined.

At one time, nobody would have debated that the U.S. had the healthiest middle class on the entire planet. But now we have actually fallen behind a whole bunch of other nations. According to CNN, the United States now only ranks 19th when it comes to median wealth per adult…

Americans’ median wealth is a mere $44,900 per adult — half have more, half have less. That’s only good enough for 19th place, below Japan, Canada, Australia…