We often hear that wealth inequality in America as well the entire world has been growing as billionaires like Jeff Bezos and Bill Gates continue to grow richer and richer. Apparently, the middle class is shrinking and global poverty is lagging behind because of these billionaires. But in reality, wealth inequality in the world is better than ever before and the middle class, as well as low-income households, are making significantly more money. Just a century ago, the wealthiest in society controlled hundreds of billions more than today’s billionaires when adjusted for inflation and economic growth. This video explains the truth behind the shrinking middle class, stagnating wages, and the seemingly endless wealth inequality.
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