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recessionFactkeepers.com
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69% Informative
Thom Hartmann: America ’s billionaires would love to have a recession, particularly a really severe one.
He says the morbidly rich are uniquely in a position to profit from the same economic downturns that wipe out average working people or those who’ve put their money into 401Ks invested in the market or certain stocks.
The top 1 percent of Americans saw their income grow by 31 percent between 2009 and 2012 , Hartmann says.
Billionaires’ real taxes have fallen by a full 79 percent since Reagan ’s election in 1980 , and a 2012 analysis found that as much as $32 trillion was safely squirreled away in tax-fraud offshore shelters.
During the Bush Crash, average income for the poorest 10% of Americans fell by 23% , making business (and billionaires) much more profitable while working people were skipping meals, selling their houses for a song, and cutting pills in half .
Thirteen years later , the Trump Crash threw 8,500,000 Americans out of work: According to the World Economic Forum , the adjusted unemployment rate hit 22.7 percent in 2020 .
VR Score
67
Informative language
62
Neutral language
18
Article tone
informal
Language
English
Language complexity
48
Offensive language
possibly offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
detected
Time-value
short-lived
External references
13
Source diversity
13
Affiliate links
no affiliate links