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The 400 Richest Americans Are Now Richer Than the Bottom 50 Percent Combined

The richest people in America command more wealth than entire cities combined.

 Cord Jefferson
03.12.11


On Wednesday we told you that a rather shocking number of American politicians aren't much like most Americans at all, pulling in six-figure salaries to add to their existing seven-figure fortunes. Today, thanks to some quick math by the documentary filmmaker Michael Moore, there's another way to look at how rich our leaders are compared to the rest of the country: In 2009, if you were to add up the total fortune of America's richest 400 people, that amount—$1.27 trillion—would be more than the holdings of the bottom 50 percent of Americans, less than $1.22 trillion.

Says Moore:

By contrast, in 2007 the bottom 50% of U.S. households owned slightly more wealth than the Forbes 400; the economic meltdown has hurt the bottom more than the top. (And in fact, in 2010 the net worth of the Forbes 400 jumped to $1.37 trillion.)

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That top 400, by the way, represents .0000035 percent of all households in the United States.

Granted, many of the nation's top earners, including Bill Gates and Warren Buffett, contribute a tremendous amount of their wealth to charity each year, and will continue to do so. But many others, like Charles and David Koch, who contribute to a wide range of right-wing causes, are also actively fighting to weaken working-class rights (as they did in the recent Wisconsin union fracas).

On top of all this, it's worth mentioning that, of the 25 richest Americans, just three are women, and none is a person of color.

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The cost of having a baby even with insurance equals average the monthly income of a woman

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Childbirth is the number one reason American women visit the hospital, and it ain't cheap. In fact, it's getting more and more expensive. A new study published in Health Affairs found that the cost of having a baby with employer-sponsored health insurance increased by almost 50% in the past seven years.

The study evaluated "trends in cost-sharing for maternity care for women with employer-based health insurance plans, before and after the Affordable Care Act," which was signed into law in 2010. The study looked at over 657,061 women enrolled in large employer-sponsored health insurance plans who delivered babies between 2008 and 2015, as these plans tend to cover more than plans purchased by small businesses or individuals.

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U.S. cancer death rates are declining. Here's what we're doing right

Photo by National Cancer Institute on Unsplash

Cancer is still the second leading cause of death after heart disease for both men and women. The American Cancer Society predicts that 2020 will bring almost 1.8 million new cancer cases and 600,000 cancer deaths, but there's also some good news. The American Cancer Society recently published a report in CA: A Cancer Journal for Clinicians stating the U.S. cancer death rates experienced the largest-single year decline ever reported.

Between 2016 and 2017, cancer death rates fell by 2.2%. While cancer death rates have been steadily falling over the past three decades, it's normally by 1.5% a year. Cancer death rates have dropped by 29% since 1991, which means that there have been 2.9 million fewer cancer deaths in the past three decades than there would have been if the mortality rate had remained constant.

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Health

The most checked-out book at the New York Public Library is a diverse children's book

In order to celebrate the New York Public Library's 125th anniversary, the library announced a list of the top 10 most checked out books in the library's history. The list, which took six months to compile, was determined by a team of experts who looked at the "historic checkout and circulation data" for all formats of the book. Ezra Jack Keats's "The Snow Day" tops the list, having been checked out 485,583 times through June 2019. While many children's books topped the top 10 list, the number one choice is significant because the main character of the story is black. "It's even more amazing that the top-ranked book is a book that has that element of diversity," New York Public Library President Anthony W. Marx said.

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