BLOG

Capitalist-style wealth gap: 1 tech guy = 1,000,000 teachers

By Paul Buchheit ~ Nation of Change ~

Capitalism is a perfect system for people like this, who care only about making more money than everyone else, and fail to grasp the importance of a healthy, working society.

As of 01/20/19, the richest six American tech leaders (Bezos, Gates, Zuckerberg, Ellison, Page, Brin) averaged over $80 billion in net worth. Meanwhile, the 25 million Americans just above the median, many of them teachers, have an average net worth of $78 thousand. That’s a difference of a million times.

For anyone questioning this disturbing truth, the following information should be helpful: There are over 4 million preschool, primary, secondary, and special education teachers; the median teacher age is 41; the median elementary school salary is $57,000; the median wealth of a 41-year-old is only $60,000. So it’s probably even worse than a million to one. Consider also that about 77 percent of teachers are female, and that females suffer the discrimination of lower wealth, especially Black and Hispanic women, for whom net worth is in the low HUNDREDS.

Read More