DENVER - Patriotic Millionaires, a group that counts Warren Buffett, Bill Gates Sr., and chief executives of Fortune 500 companies among its ranks, has released a report exposing a growing wealth gap between the 400 richest Americans and the rest of the population.
Chuck Collins, an heir to the Oscar Mayer fortune who co-authored the report with the Institute for Policy Studies, summarizes what they found.
"Our main finding is that wealth is getting much more concentrated in the hands of a few than we thought," he said. "So, the wealthiest 20 people now have more wealth than the bottom half of the population, 152 million people."
Collins said it's important for millionaires and billionaires to speak out against inequality and advocate for policies that can reverse what he calls "dangerous trends."
According to the report, the richest 100 households now hold as much wealth as the nation's entire African-American population, and the top 186 people on Forbes magazine's annual list of the wealthiest Americans own as much as all Latinos in the United States.
While 11 members of the Forbes "Top 20" built successful companies or were shrewd investors, Collins said, nine made the list through inherited wealth. Because current policies favor the rich, he said, the United States is at risk of becoming a nation with the kind of hereditary aristocracy that Americans fought a revolution to overthrow. The report said extreme inequality corrodes the democratic process, polarizes communities and impairs public health.
"It undermines healthy economic activity and growth, and it erodes social mobility, the ability of people who are not born wealthy to have the opportunity to become wealthy," Collins said. "These inequalities undermine the fundamental American dream."
The report's recommendations to close the wealth gap include raising the minimum wage, limiting the influence of money in politics, shutting down offshore tax havens and taxing wealth from investments at the same rate workers pay on income.
The full report is online at ips.dc.org.
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Missouri residents are gaining new insights into the powerful role of food in health care as experts and organizations advocate for a shift toward food-as-medicine initiatives.
Kelsey Gardiner, assistant professor of nursing and health studies at the University of Missouri-Kansas City, emphasized the critical link between access to healthy food and improved health outcomes. She noted individuals facing food insecurity often experience higher rates of chronic diseases, highlighting the urgent need for systemic changes to enhance food access.
"There are things we can do and there are certain shifts nationally that are happening, whether that be through policy or through infrastructure changes," Gardiner pointed out. "We can be doing more in the state of Missouri in order to help increase access to healthy food that can directly tie into better health outcomes."
Gardiner underscored the potential of food-as-medicine interventions in preventing chronic conditions and reducing health care costs. She said recent studies show such interventions can lead to $13.6 billion over one year in cost savings and several improved health outcomes, making them a valuable addition to health care strategies.
Kael Martin, people impact strategist for the Health Forward Foundation, said focusing on communities affected by structural racism, socioeconomic challenges and limited health care access is paramount. Food as medicine is seen as a strategic approach to promote health equity, particularly in areas where systemic barriers hinder optimal health.
"We know that eating healthy can prevent chronic disease, but it can be a treatment option as well," Martin stressed. "To have that connection within our health care system, to really integrate these interventions, can be really impactful for many patients."
While progress is underway nationally and in other states such as Massachusetts, California and North Carolina, Missouri is still developing its approach to integrate food as medicine into health care systems and policies. Efforts to push for legislation supporting these initiatives are in progress, with some federal legislation around medically tailored meals garnering support.
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As many Wyomingites await their 2023 federal income tax refunds, a new National Priorities Project report breaks down how the money they won't get back is being spent.
Co-author Lindsay Koshgarian, program director for the National Priorities Project, said this year's Tax Receipt shows that - while many school districts in Wyoming and across the U.S. are facing major budget cuts - the average taxpayer is contributing thousands of dollars to military contractors, including Boeing, Lockheed Martin, and Raytheon.
"So whereas the average Wyoming taxpayer was giving almost $2,300 to corporate pentagon contractors," said Koshgarian, "they were giving only $455 for public education in our K-12 schools."
The average American household paid over $5,000 for militarism and support systems, but invested just $110 in the Child Tax Credit - which cut child poverty in half during pandemic era changes.
The Pentagon has failed to account for money spent in audits for the past six years. But its defenders argue tax dollars create jobs and maintain global security in the face of competitors, including China.
Koshgarian said corporate contractors can create jobs, especially in key Congressional districts.
She pointed to Brown University research showing that $1 billion in military spending adds roughly 11,000 jobs.
By comparison, $1 billion would add nearly 27,000 education, and 17,000 healthcare jobs.
"But if we put that same money into other things like education or infrastructure or healthcare," said Koshgarian, "we could actually create more good jobs with the same amount of money."
The U.S. Department of Defense has known about the existential threat of climate change for decades, and wildfires now cost upward of $394 billion in damages each year.
But the average taxpayer invested just $14 in wildfire management.
Koshgarian said she believes concerns about protecting international security, which largely serve corporate interests, are overblown.
"The U.S. is already the top military spender in the world by far," said Koshgarian. "We spend more than the next 10 militaries combined. We have the most capable military by far in the world, and no one disputes that."
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A New Mexico resident will attend President Joe Biden's State of the Union address tonight as legislation is pending to expand the Radiation Exposure Compensation Act.
The measure was passed in 1990, with money going to residents of the Southwest who were harmed, either from uranium mining or atomic tests in 1945. The original legislation included "downwinders" in Arizona, Utah and Nevada. But New Mexico was left out, despite the state being home to the world's first atomic bomb testing and explosion.
Tina Cordova, co-founder of the Tularosa Basin Downwinders Consortium, has made it her life's work to get New Mexico families compensated.
"I've been working for 19 years to bring attention to the negative health effects the people of New Mexico suffered," Cordova explained. "The Trinity bomb was detonated in the middle of our state and adjacent to a bunch of towns where 13,000 people lived in a 50-mile radius."
Cordova was invited to the annual Presidential address by Sen. Ben Ray Luján, D-N.M. In the coming days, the Senate is scheduled to vote on legislation to reauthorize the act, now scheduled to end in June.
Cordova pointed out the more than 30-year-old compensation program was an admission of guilt on the part of the government but left out many of those harmed. She knows families who have lost relatives to cancer, some within 10 years of the nuclear bomb testing.
"I just hope that people who know I'm present, realize that we will never give up the fight," Cordova asserted. "We will work very hard to get the RECA amendments passed this year, but if by some chance that doesn't happen, we will continue to fight this fight for justice as long as it takes."
This Sunday, the Hollywood blockbuster, Oppenheimer, about the creation of the atomic bomb, is a favorite to win best picture at the 2024 Academy Awards. The film did not address effects to those downwind of the bombing site.
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