Sen. Bernie Sanders, Vermont Independent, said today that the level of wealth and income inequality in America has become “incredible and obscene” under the Obama Administration.
“Never before in the modern history of our country have so few had so much and so many had so little. This incredible and obscene level of wealth and income inequality is a grave danger to our economy and our political system,” Mr. Sanders said in a press release Saturday.
Mr. Sanders, who is rumored to be considering a bid for president in 2016, pointed to a new survey from Forbes magazine showing the 400 wealthiest Americans are now worth $2.29 trillion, a 13 percent increase from last year.
Mr. Sanders said most Americans are becoming poorer while the richest continue to gain more wealth. In his statement, Mr. Sanders wrote that median family income has declined by almost $5,000 since 1999 and more than half of Americans have less than $10,000 in savings.
“Congress must summon the courage to take on their big money campaign contributors and pass legislation that asks the wealthy to start paying their fair share of taxes and overturns the disastrous Supreme Court decision on Citizens United,” Mr. Sanders said.