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Wealth Inequality Quotes

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Wealth Inequality Quotes

“Last year I pledged to give the majority of my wealth back to the society that helped generate it, to do it thoughtfully, to get started soon, and to keep at it until the safe is empty. There's no question in my mind that anyone's personal wealth is the product of a collective effort, and of social structures which present opportunities to some people, and obstacles to countless others.”

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Author:MacKenzie Scott
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“The rich individuals are increasingly hoarding everything. If the billionaires want to go to space, they could at least leave their money on Earth to solve the critical Earthbound problems. We now have an estimated 2,775 billionaires with a combined net worth of around $13.1 trillion. I have it on good authority that you don't need more than $1 billion to live comfortably. Even if every billionaire kept $1 billion, that would leave around $10 trillion for ending hunger, poverty, and environmental destruction. We should be taxing the vast and rapidly growing billionaire wealth to help finance a civilized world.”

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Author:Jeffrey Sachs
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“Because [Jeff Bezos] and [Mark Zuckerberg] own $100 billion in the current state of the legal system, the current state of the fiscal system, the current way the international economy is organised, people say, ‘OK, $100 billion, exactly the right level.’ But with a different legal system, different international taxation, it could be 200, it could be 50. So what would be the story? Any level that they will attain, it will be the best? This kind of sacralisation of special individuals is a form of religious thought. People who use this kind of argument: ‘He's great, therefore –‘ therefore what? Therefore we should subsidize him so that he's even richer?”

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Author:Thomas Piketty
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“It's probably for the best that Van Gogh isn't around to see his work selling for squillions of dollars, as he'd probably start painting for that market. He may have lost an ear, but he'd still have that magic eye and a new nose for a deal. We're denied access to this poor man's genius by having the richest people on earth hanging his life's work in their mansions.”

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Author:Stewart Stafford
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“Well, our economic system "works," it just works in the interests of the masters, and I'd like to see one that works in the interests of the general population. And that will only happen when they are the "principal architects" of policy, to borrow Adam Smith's phrase. I mean, as long as power is narrowly concentrated, whether in the economic or the political system, you know who's going to benefit from the policies―you don't have to be a genius to figure that out. That's why democracy would be a good thing for the general public. But of course, achieving real democracy will require that the whole system of corporate capitalism be completely dismantled―because it's radically anti-democratic. And that can't be done by a stroke of the pen, you know: you have to build up alternative popular institutions, which could allow control over society's investment decisions to be moved into the hands of working people and communities. That's a long job, it requires building up an entire cultural and institutional basis for the changes, it's not something that's just going to happen on its own. There are people who have written about what such a system might look like―kind of a "participatory economy," it's sometimes called. But sure, that's the way to go, I think.”

InequalityWealth Inequality
Book:Understanding Power: The Indispensable Chomsky
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“Western capitalist society, and especially my own American society, is one characterized by great inequalities. In any such society, by the nature of the case, the greatest threat to rightful freedom is always the wealth and power of the privileged. The chief task of the state in protecting human freedom should always be to use rightful state coercion to limit the freedom of the powerful and privileged to infringe the rightful freedom of the less privileged and the vulnerable. Political struggles in the modern world are usually fundamentally struggles about whether state power will be used to protect the rightful freedom of all, or instead used to protect the wrongful freedom of the wealthy, powerful, and privileged. Wide social inequality necessarily indicates that these struggles have come out the wrong way, on behalf of the unjust and oppressive freedom of the privileged against the rightful freedom of the majority.”

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Book:The Free Development of Each: Studies on Freedom, Right and Ethics in Classical German Philosophy
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“A frequent refrain of those defending the status quo is that the income tax system already heavily burdens the rich because the top 1 percent of earners pay 40 percent of all income taxes while 40 percent of Americans pay no income taxes at all. This is partially true: Individuals with the most taxable income do pay the most income tax. However, this statistic is about people who have high incomes, typically from work; it tells us nothing about the tax liability of those with the most wealth. Studies have shown that there is only about a 50 percent overlap between America’s wealthiest people and those who earn the most income. Moreover, as the leaked tax returns of several of the wealthiest Americans reveal, the ability of wealth owners to avoid taxable income means that they are just as likely to be among the 40 percent of nonpayers as they are the top 1 percent of earners.”

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Book:The Second Estate: How the Tax Code Made an American Aristocracy
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“Servants, labourers, and workmen of different kinds, make up the far greater part of every great political society. But what improves the circumstances of the greater part can never be regarded as an inconveniency to the whole. No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe, and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, clothed, and lodged.”

Wealth InequalityEconomic Prosperity
Book:An inquiry into the nature and causes of the wealth of nations
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“Excessive wealth, like power, tends to corrupt. Even if the rich are not “idle rich”, even when they work harder than anyone else, they work differently, apply different standards, and are set apart from common humanity. They corrupt themselves by practising greed, and they corrupt the rest of society by provoking envy. Mr Bader drew the consequences of these insights and refused to become inordinately rich and thus made it possible to build a real community.”

Wealth Inequality
Book:Small is Beautiful Economics as if People Mattered
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“The economist J.K. Galbraith wrote in The Affluent Society (1958) about 'private affluence and public squalor', demonstrating the pernicious effects on the economy and society of excessive wealth inequality, and the paradox that the wealthy, though gaining from tax cuts and excessive pay, still lost out because the country as a whole was poorer. In 2009, Kate Pickett and Richard Wilkinson applied an epidemiological approach to issues such as violence, obesity and anxiety to demonstrate how the more unequal a society is in terms of wealth and income, the more its social problems worsen for everyone, not only those living in deprivation. Their book The Spirit Level also explored the sociological processes behind these connections, centring on trust and anxiety - how we, as social animals, thrive when we have a secure place in society and a reasonable status.”

Wealth InequalityJ K Galbraith
Book:Another England: How to Reclaim Our National Story
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“All these wasteful expenditures of the rich, only a few of which have been briefly enumerated, are extenuated by hired apologists on the ground that they give many people work in the luxury trades, in domestic service, in the garages, stables, and gardens, and on board the yachts. It is not realized, it seems, that if the money wasted by the rich in personal indulgence were taken in taxes and put into the building of needed hospitals, schools, playgrounds, clinics, low-rent apartment buildings, farm homes, sanatoria, rest homes, and recreation clubs for the mass of Americans, the persons now given employment by the wealthy would obtain work of a more constructive character in these other fields.”

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Book:America's 60 Families
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“Income and wealth inequality have reached obscene levels, the threat of climate change is more frightening than ever, and the billionaire class is now allowed to spend unlimited amounts of money to buy the candidate they want. And it is up to us to stand up and fight back. If we stand together, there is no limit to what we can accomplish.”

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Author:Bernie Sanders
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“Trickle down economics is a fraud. Giving tax breaks to the rich and large corporations does not create jobs. It simply makes the rich richer, enlarges the deficit and increases income and wealth inequality. We need economic policies which benefit working families, not the billionaire class.”

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Author:Bernie Sanders
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“It's clear that he was incredibly courageous in his critique of white supremacy, wealth inequality, and imperial power as it relates to war in particular. But it's easy to deodorize Martin King, to sanitize or sterilize him. And I simply want to reveal his radical love and his radical analysis as what they really were.”

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Author:Cornel West
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“The greatest country, the richest country, is not that which has the most capitalists, monopolists, immense grabbings, vast fortunes, with its sad, sad soil of extreme, degrading, damning poverty, but the land in which there are the most homesteads, freeholds - where wealth does not show such contrasts high and low, where all men have enough - a modest living- and no man is made possessor beyond the sane and beautiful necessities.”

MenDoeMadeCountryEnoughShowsBeautifulWealthPovertyLandLowsEconomicsFortuneExtremesInequalitySoilCapitalistContrastSaneImmenseModestDegradingSocial ClassGrabbingHighs And LowsEconomic InequalityWealth InequalityEconomic Equality
Author:Walt Whitman
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“How can it be that it is not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points? This is a case of exclusion.”

PersonsTwoDiesLosesCasesNewsCapitalismInequalityHomelessItemsExposureElderlyExclusionIncome InequalityEconomic InequalityEconomic JusticeApostolicDistribution Of WealthWealth InequalityRedistribution Of WealthEconomic EqualityValue Of Human LifeIncome Redistribution
Book:The Joy of the Gospel
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“Just as the commandment 'Thou shalt not kill' sets a clear limit in order to safeguard the value of human life, today we also have to say 'thou shalt not' to an economy of exclusion and inequality. Such an economy kills. How can it be that it is not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points?”

HumansPersonsTwoTodayValuesOrderDiesLosesEconomyClearLimitsNewsInequalityHuman LifeCommandmentsHomelessItemsExposureElderlyExclusionEconomic InequalityEconomic JusticeWealth InequalityValue Of Human LifeEconomy Today
Book:The Joy of the Gospel
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“I find it ironic that Republicans have such disdain for the lazy, and yet their solution to every problem is do nothing. Their answer to wealth inequality, do nothing. Health care? Do nothing. Climate change? Nothing. Racism? Doesn’t exist. For a group of people so head over heels in love with self-reliance, they sure do recommend a lot of sitting on their ass.”

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Author:Bill Maher
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“The distribution of wealth is even more unequal than that of income. ...The wealthiest 5% of American households held 54% of all wealth reported in the 1989 survey. Their share rose to 61% in 2010 and reached 63% in 2013. By contrast, the rest of those in the top half of the wealth distribution —families that in 2013 had a net worth between $81,000 and $1.9 million —held 43% of wealth in 1989 and only 36% in 2013.”

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Author:Janet Yellen
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“The average net worth of the lower half of the distribution, representing 62 million households, was $11,000 in 2013. About one-fourth of these families reported zero wealth or negative net worth, and a significant fraction of those said they were "underwater" on their home mortgages, owing more than the value of the home. This $11,000 average is 50 percent lower than the average wealth of the lower half of families in 1989, adjusted for inflation.”

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Author:Janet Yellen
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