Share this page!

Robert Reich Profile picture
Twitter logo
Feb 11 • 4 tweets • 2 min read
Pop quiz: What is the accurate distribution of wealth in the United States?

(Okay, you won't be graded, but if you want to learn more, you can check out the first session of my big undergraduate course "Wealth & Poverty" here: robertreich.substack.com/p/wealth-and-p… )
Choice B is what Americans think the distribution of wealth is.
Choice C is what Americans would like the distribution of wealth to be.
Choice A is the actual distribution of wealth.

Okay, well, these data are a bit old and it's even more skewed in favor of the top 20% now.

(Source: hbs.me/34PY3S2)

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Robert Reich

Robert Reich Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @RBReich

Robert Reich Profile picture
Jan 19
This week may be the Biden administration's low point. So how can Biden regain momentum?

Here are 10 steps he should take, starting this week -- a thread:
1. Reach out to Murkowski, Collins, Romney, and any other possibly principled senate Republican, to gain support for any reasonable compromise on the filibuster (even a “talking filibuster” would be better than the current standoff).
2. Accompany this with a speech about how often the filibuster has been used to block popular legislation, especially over the last dozen years, why it’s fundamentally anti-democratic, and what it’s blocking now — voting rights and highly popular measures in “Build Back Better."
Read 12 tweets
Robert Reich Profile picture
Jan 7
Today's jobs report should cause alarm, by @RBReich robertreich.substack.com/p/todays-jobs-…
The economy is in imminent danger of slowing—as the Dec job numbers reveal. Many Americans will soon need extra help since they can no longer count on extra unemployment benefits, stimulus payments, or additional child tax credits. This isn't the time to put on the fiscal brakes.
Yes, supply bottlenecks have caused the costs of some components and materials to rise. But large corporations have been using these rising costs to justify increasing their own prices when there’s no reason for them to do so.

Corporate profits are at a record high.
Read 4 tweets
Robert Reich Profile picture
Jan 6
Remember when corporations quickly declared their dedication to American democracy by pledging to "pause" or "review" their political contributions to seditionists in Congress?

Let’s follow up on their promises today.
Boeing promised it would "evaluate future contributions to ensure that we support those who…uphold our country’s most fundamental principles.”

The company then gave $190,000 to GOP election objectors.
UPS nobly said that “we must peacefully and constructively find ways to advance the common good of our country.”

The company donated $167,000 to GOP election objectors.
Read 8 tweets
Robert Reich Profile picture
Nov 6, 2021
Call me a radical Lefty, but billionaires shouldn’t be setting tax policy by Twitter polls.
With stunts like these, Elon Musk and other modern-day Robber Barons are gleefully making a mockery of how little they pay in taxes.
Remember: Musk pays little in federal income taxes, while his companies have raked in millions in federal contracts.

nytimes.com/2021/06/10/opi…
Read 5 tweets
Robert Reich Profile picture
Sep 14, 2021
Yesterday, before results were released in the California recall, Larry Elder’s campaign launched a website promoting baseless claims that the election was stolen.

We've reached the point where Republicans don't even wait until polls close before claiming an election was rigged.
It’s tempting to laugh at the absurdity of Elder’s ploy, but it’s a grave warning sign of how Republicans plan to run campaigns from here on out. Any result they don’t like will be written off as fraudulent.

We must keep fighting back against Republicans’ authoritarian agenda.
P.S. Californians, don't forget to vote in person before 8 p.m. today, or mail in or drop off your ballot as soon as you can. The stakes are too high to sit this one out.
Read 4 tweets
Robert Reich Profile picture
Jul 20, 2021
I remember as a kid talking with other kids my age about becoming an astronaut. At the time, astronauts came from middle-class and blue-collar families. They’d gone to public schools.

It was something any of us could aspire to.

Today’s space race could not be more different.
We used the term “we” to describe being the first to land on the moon. Bezos and Branson aren’t “we.” There's no common good in their achievement. They symbolize the extreme apex of wealth, much of it gained by paying workers low wages, dodging taxes and shutting out competitors.
If Branson and Bezos are advancing anything or anyone, it’s the prospect of making boatloads of money by selling future seats to other people able and willing to pay huge sums for the thrill. It's hardly impressive or heroic.
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Like this author's thread?

Get emails when @RBReich has new unrolls!

Check out other threads from @RBReich!

Read all threads by @RBReich

:(