By Jeannine Putrelo
In a leap that Justice John Paul Stevens called “profoundly misguided” the US Supreme Court has written a decision that may well be the final undoing of American democracy. To see that, it is necessary to take on board the main trend in the distribution of wealth and power in this country. Today the spread between rich and poor is as broad as it has ever been. As of 2000, one percent of the people owned 40% of the nation’s wealth. That gap has been creeping up; probably as of 2010 one percent of the people now own more than half of the wealth. In addition to that, a goodly chunk is owned by foreigners. Thus the democratic base, meaning that 99% of the people may be net owners of little more than a third of our country’s wealth.
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