Obama continued on income inequality, saying, “History shows that societies which tolerate vast differences in wealth feed resentments and reduce solidarity and actually grow more slowly. And when economic power is concentrated in the hands of the few, history also shows that political power is sure to follow and that dynamic eats away at democracy.”
After the speech calling for rich people to get smaller houses, Obama traveled back to America and to his $8.1 million eight-bedroom, nine-and-a-half bathroom
mansion in one of the wealthiest neighborhoods in the world.
Obama Attacks Wealthy For Big Houses Before Returning To His $8 Million MansionView attachment 206089
Do you agree or disagree with what he says?
I'd like to know what history books show this statement to be true:
"
And when economic power is concentrated in the hands of the few, history also shows that political power is sure to follow and that dynamic eats away at democracy.”
The reason is THERE is NO history of any democracy before the United States and the US is technically not a democracy.
These countries are categorized as "democracies"...
The most democratic countries of the world according to the 2015 Democracy Index:
20 most democratic countries in the world…do you live there?
- Norway.
- Iceland.
- Sweden.
- New Zealand.
- Denmark.
- Switzerland.
- Canada.
- Finland.
When in any of the above "democracies" was "
economic power concentrated in the hands of the few"?
I have never heard of the above countries have economic power concentrated in the hands of the few that it ate away at their democracy.
Again hyperbole. Hatred of America exemplified by Obama's gross flamboyant use of hyperbole.
Also where in any history books there were "
societies which tolerate vast differences in wealth feed resentments and reduce solidarity and actually grow more slowly."?
On the contrary "our" society has more people capable of doing more while spending less time working to feed themselves than any time in history.
For example in the USA and these are the facts with sources...(unlike Obama's totally unsourced, unattributed statements!)..
By 1890, there were about 4000 millionaires in the United States, almost half of them living in the New York area.
Google Answers: statistics on millionaires, late 1800s
In terms of today's dollars one million in 1890 would be equal to $27 million today.
FACT:
The Inflation Calculator
How many people have net worth over $25 million today?
- There were 172,000 households with net worth above $25 million, up from 156,000 in 2016 and 145,000 in 2015.
The Number of High-Net-Worth Households in the US Continues to Grow - Marketing Charts
FACTS then from 1890 when there were 4,000 millionaires to 2016 when there were 172,000 equivalent in 1890 dollars households.
So what was the growth factor? The number of people who were worth what 4,000 millionaires was worth in 1890 grew by 4,375%
Yea but the United States is much bigger your retort would be... OK...
USA households in 1890 was 12,690,000
U.S. Households, Families, and Married Couples, 1890–2006
That would then be 0.032% (4,000/612,690,000.
Versus The United State in 2017 of 117,716,237 households ..
U.S. Census Bureau QuickFacts: UNITED STATES
172,000 USA households with net worth above $25 million divided by 117,716,237 households or 0.146%
So even though the population grew 995% times what it was in 1890 the "evil" capitalist" millionaire class grew 4,375%
As of the end of 2016, there were a record 10.8 million millionaires nationwide,
according to a new study from Spectrem Group's Market Insights Report 2017.Mar 24, 2017
how many millionaires in usa 2017 - Google Search
Over a billion people have been lifted out of poverty since 1990
Over 1 billion people have been lifted out of poverty since 1990, but the next billion will be harder
So again Obama's hyperbole is totally obliterated by the FACTS! Our country has created 4,375% more millionaires in 1890 equivalence even though the population has grown 995%
What is going on here???