UNEQUAL: The rise of a new American oligarchy and the agenda we need | Oxfam https://www.oxfamamerica.org/explore/research-publications/unequal-the-rise-of-a-new-american-oligarchy-and-the-agenda-we-need/
UNEQUAL: The rise of a new American oligarchy and the agenda we need
This past year has been indelibly shaped by concentrated wealth and power. The 10 richest U.S. billionaires got $698 billion wealthier, and the arrival of the world’s first trillionaire grew more imminent. The Trump administration—largely with the support of the Republican-controlled Congress—has moved with staggering speed and scale to carry out a relentless attack on working-class families, while enriching the wealthy and well-connected.
How did the country get here? The story does not begin in 2025. Oxfam’s UNEQUAL provides a snapshot of U.S. economic inequality today, and looks at the trends in recent decades that have culminated in contemporary extremes that are corroding U.S. democracy and causing hardship for many millions of people. The report examines the influence of concentrated wealth over politics, and how policymakers’ choices on tax, labor, social protection and other issues contributed to the growing divide between the very wealthiest and much of the country. It sounds the highest alarm about what comes next and sets out an agenda to turn the tide and reverse harmful inequality, calling on policymakers to back the demands of workers, movements, and communities to deliver for ordinary people.
UNEQUAL: The rise of a new American oligarchy and the agenda we need | Oxfam https://www.oxfamamerica.org/explore/research-publications/unequal-the-rise-of-a-new-american-oligarchy-and-the-agenda-we-need/
Summary of "Oxfam: Unequal - The Rise of a New American Oligarchy and the Agenda We Need"
Forewords
- - **Elizabeth Warren** emphasizes personal experiences with economic hardship and highlights the failure of the current system to support working families. She argues that deliberate policy choices have led to extreme inequality, and calls for reforms to ensure fair taxation and support for workers [4].
- - **Elizabeth Wilkins** reflects on the historical context of inequality, stating that it is a choice that can be reversed through policy changes aimed at benefiting the majority rather than the wealthy elite [5].
Introduction
- - The report discusses the alarming rise of oligarchy in America, with concentrated wealth and power becoming increasingly evident. It outlines the need for a comprehensive examination of economic inequality and the urgent need for actionable solutions [6].
Decades of Increasing Inequality
- - **Billionaire Bonanza**: The wealth of the top 10 U.S. billionaires surged by $698 billion in the past year, highlighting the stark disparity between the ultra-wealthy and the average American [9].
- - **Wealth Trends**: From 1989 to 2022, households in the top 1% gained significantly more wealth compared to median and lower-income households, exacerbating economic divides. For instance, the wealth of a household at the 99th percentile increased by 101 times that of the median household [10][11].
- - **Racial and Gender Disparities**: Economic inequality is compounded by historic discrimination. White households have seen wealth increases far exceeding those of Black and Hispanic households, and male-headed households have gained significantly more than female-headed households [12][13].
The Path to a Contemporary Gilded Age
- - **Policy Influence**: The report attributes rising inequality to policy choices favoring the wealthy, including tax cuts and weakened labor protections. Key events like the breaking of labor unions in the 1980s and welfare reforms in the 1990s have contributed to the current landscape of inequality [18][21].
- - **Corporate Power**: Increasing corporate concentration has allowed large firms to exert significant influence over political and economic outcomes, further entrenching inequality [17].
Unprecedented Extremes Ahead
- - The current administration's policies threaten to exacerbate existing inequalities through regressive tax reforms and cuts to social safety nets, risking an unprecedented transfer of wealth upwards [23][24].
Turning the Tide Against Extreme Inequality
- - **Rebalancing Power**: The report calls for empowering workers and communities to challenge concentrated economic power through grassroots movements and policy reforms [26].
- - **Tax Code Reforms**: A proposed wealth tax and increased corporate taxes are suggested as means to address wealth concentration and fund social programs [27].
- - **Social Safety Net Reimagining**: The report advocates for a robust social safety net that includes guaranteed income and universal public services to combat poverty and inequality [28].
- - **Supporting Workers' Rights**: Strengthening labor rights, raising the minimum wage, and improving workplace conditions are essential to fostering a fair economy [29].
Conclusion
The report concludes that reversing decades of increasing inequality requires a concerted effort to reshape policies that prioritize the needs of the many over the few. It emphasizes that the government should work for the majority, ensuring dignity and economic security for all [30].
This summary encapsulates the key themes and findings of the Oxfam report on inequality in the United States, highlighting the critical issues and proposed solutions to address the growing divide.
UNEQUAL: The rise of a new American oligarchy and the agenda we need | Oxfam https://www.oxfamamerica.org/explore/research-publications/unequal-the-rise-of-a-new-american-oligarchy-and-the-agenda-we-need/
