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Bernie Sanders: “The top 1% owns more wealth than the bottom 92%.”

Featuring: Bernie Sanders, Independent | U.S. Senate, Vermont

Bernie Sanders addresses Oxford on his book "It's OK To Be Angry About Capitalism"

Published April 13, 2024 | Video Starts at 09:36

For particular reasons, any case, in America today, quite unbelievably, I think, and outrageously, three people own more wealth than the bottom half of American society. The top 1% owns more wealth than the bottom 92%. When I was growing up a few years ago in America, you know, George Washington's time, George and I worked together CEOs, you know, there's nothing new about the fact that the owners of companies make more money than their workers. (09:36–09:44)

CLAIM

Asserts that the top 1% of wealth holders in the U.S. own more wealth than the bottom 92%.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Bernie Sanders

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“Over 60% [of working-class families] living paycheck to paycheck.”
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“We do not have a national healthcare system [in the United States].”
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“We have some 500,000 Americans every year who go bankrupt with medically related bills.”
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“We have 85 million people uninsured and underinsured [in the U.S.].”
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“In America, rents are going up for working people in many communities throughout the country.”
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“We've lost over a million Americans [to COVID].”
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“Before COVID, life expectancy in the United States was less than in most other industrialized countries.”
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“In many parts of America, life expectancy before COVID has gone down.”
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“We lost over 100,000 Americans last year from overdoses.”
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“Three people own more wealth than the bottom half of American society.”
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“The gap between the CEO and the worker was about 20 to 1 [70, 80 years ago].”
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“Now in America, the head of the large corporations make 400 times more than the average employer in that corporation.”
Bernie Sanders addresses Oxford on his book "It's OK To Be Angry About Capitalism" | Uploaded April 13, 2024 | 10:23-10:36
“In the last 50 years, [American workers] have gone almost nowhere in terms of wages and income.”
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“The weekly wage for the average American worker in inflation adjusted dollars is less than it was 50 years ago.”
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“There has been a 55 trillion dollar redistribution of wealth from the bottom 90% to the top 1%.”
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“Over 60,000 people a year die because they don't go to a doctor on time, because they can't afford to.”
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“Significant increase in concentration of ownership [in the United States].”
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“In virtually every sector of American society, we see a handful of large corporations dominating that sector.”
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“Over half of the cost of inflation has nothing to do with the war in Ukraine.”
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“ExxonMobil made $200 billion in profit last year.”
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“Major food corporations made huge profits.”
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“Major real estate companies who own apartments making huge profits.”
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“Three Wall street firms... BlackRock, Vanguard and State Street... have assets combined of control assets... of $20 trillion.”
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“They are major shareholders of 95% of the S&P 500.”
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“Billionaires can contribute as much money as they want, often without disclosure, into [super PACs].”
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“Eight major media conglomerates control about 90% of what the American people see, hear, read.”
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“We spend twice as much per capita on health care as you do in any other major nation on Earth.”
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“In the United States, if you want to become a doctor, it is not uncommon that you leave school for $500,000 in debt.”
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“Not unusual that you will leave college 40, $50,000 in debt [in the U.S.].”
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“Education should be a right of all people and not just a privilege.”
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“People cannot really be free unless they have basic economic rights.”
Bernie Sanders addresses Oxford on his book "It's OK To Be Angry About Capitalism" | Uploaded April 13, 2024 | 29:31-29:42
“Tens of millions of workers live under conditions where they have no power over the job they do.”
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“If we use the technology out there appropriately, we can provide a decent standard of living for all people.”
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“Over the next 20, 30 years, tens and tens of millions of jobs are going to be ended [due to technology].”
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