Renowned billionaire Warren Buffett has spoken out against income inequality and said there is no reason why there should be poor Americans. He denounced the absurdity of America’s $54,000 GDP per capita when only the one percent benefits from it.
“You expect unequal results in a market economy, very unequal,” he said. “But you really shouldn’t have an economy with over $50,000 in GDP per person and have lots of people living in poverty who are willing to work. I mean, that makes no sense.”
“I was born in 1930,” he added. “There’s now six times as much real output per capita in the United States than there was, in real terms — six times. If you’d told my parents that under these circumstances, there would be millions and millions of people living in poverty, they would have said it was impossible.”
The economic recovery has been massive, but it’s only concentrated to the top one percent of earners. The rest us are left behind, stuck at square one with stagnant wages and a widening income gap. America is a wealthy country, but its people are poor.
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