I suspect what’s really meant is “Poor people need to bootstrap themselves.”
But how can they, when so much wealth is hoarded?
We’re told that businesses are more important than people every day, like when Amazon’s Whole Foods cut access to health care benefits for part-time employees “in order to better meet the needs of our business.” And those benefits had to be purchased by the employees.
In fact, there’s plenty of basic resources for everyone. Most of the U.S.A.’s wealth is hoarded by a tiny group of people, mostly white men.
This is over $900 billion dollars in personal wealth. No family or individual needs even 1% of the kind of money these billionaires possess.
But that $900 billion is just the very top tier of the ultra high net worth (UHNW) wealthy. In addition to these fifteen, more than 20,000 other people posses enough wealth to require a dedicated office staff to manage it via “family offices.” From Investopedia:
Family offices are private wealth management advisory firms that serve ultra-high-net-worth (UHNW) investors. They are different from traditional wealth management shops in that they offer a total outsourced solution to managing the financial and investment side of an affluent individual or family. For example, many family offices offer budgeting, insurance, charitable giving, family-owned businesses, wealth transfer, and tax services.
So how many of these family offices are there, and what sort of wealth do they manage? The numbers are difficult to estimate, as you may have guessed. Wealthy people often spend considerable energy to keep their financial affairs and tax returns private. The 45th president of the U.S. is a good example of that. Most Americans running for public office release their tax returns to the public — but most of them aren’t UHNW people.
One organization, Family Office Exchange, estimates there are over 10,000 such family offices in the United States:
For our estimate, we’ll assume that half of those individuals with $100–500 million in assets have some form of a family office. For those with assets greater than $500 million, the percentage is probably higher. According to FOX’s biennial Family Office Benchmarking Study, these families typically have more complexity, can afford it, and desire the privacy and control provided by a single family office. For purposes of this analysis, we assume 75% have family offices. This simple reasoning results in more than 10,000 single family offices in the United States, shown below:
I wouldn’t want to treat this group of investors unfairly (you know how that upsets folks with privilege), so let’s make a lowball estimate of the total wealth of UHNW individuals in the U.S. by multiplying 20,000 people by $100 million — the lowest amount of net assets for those eligible for the family office. The answer is:
Yes, that’s $2 Trillion, a number that’s very hard for me to wrap my brain around. What does that number even mean? For comparison purposes, the U.S. spent just under $600 billion on Medicaid for 73 million people in 2017. So 73 million people received healthcare in 2017, and it cost less than the personal wealth of 20,000 people. No, wait — it cost less than the personal wealth of only FIFTEEN people. Someone check my math, please.
There’s a tipping point beyond which it’s hard for very rich people to lose money. Left to its own devices, money breeds with itself and makes more money, creating what’s called “generational wealth.” You might have noticed in the top 15 wealthiest people chart that three of them, all members of the Walton family, accumulated their wealth via inheritance. When UHNW people don’t spend all their money (who could?), their wealth accumulates via interest, dividends, appreciation, and probably other ways I know nothing about in my middle class world.
Most Americans (about 85%) live above the poverty line, which is now set at $12,490 per year for an individual, and $25,750 for a family of four. To put that in perspective with our UHNW friends’ wealth, that means a family of four making $30,000 per year lives on .03 percent of $100 million, or that $100 million could support over 3,000 families of four in a given year.
In 2017, the U.S. Census estimated that 39.7 million Americans lived in poverty. Fifteen million of those are children.
So i have a question: If these UHNW folks loosened their grips on their wealth — via increased taxes, for example — how might that ameliorate poverty in America?
The publication of a new book by an author you love is a wonderful thing, perhaps especially when that author is no longer in this world Last month, a posthumous collection of Laura Hershey’s poetry and prose was published by The Unsung Masters Series, a project of Pleiades Press, Gulf Coast Journal, and Copper Nickel Journal.
Hershey passed away after a sudden illness in November of 2010; this came as a shock to her many friends and followers, including me. I’d met Laura when she organized a WOM-PO event at the 2010 AWP conference in Denver. About 30 women attended the lunch, exchanging news about recent books and publications.
I’d become familiar with Laura’s work through the WOM-PO listserv, and deeply admired her incisive intellect and her writing on personal and political facets of living as a disabled woman, and I was anxious to speak with her about her work. At the time, I was working on a chapbook of poems about my experience with hepatitis C and stigma. After some conversation, we embarked on an exchange of poems via email for mutual feedback.
Laura and her long-time partner Robin Stephens had recently adopted a teenage girl, and many of her poems in our brief exchange centered on her new daughter. As an adoptee raised in a fucked-up home, I had a bad taste in my mouth about adoption in general. Laura’s poems were a palate cleanser for me. I had no idea that an adoptive parent could focus, as she and Robin did, on learning all they could about who their daughter was, understanding her daughter as an individual, and acting for the benefit of their child.
The Unsung Masters Series project is an important one, but Laura Hershey was hardly unsung in the many communities she touched with her poetry, prose, and activism. For a sampling of her international influence, check out her website, which continues to live on after her death.
She put her considerable energies to work for both the theory and practice of LGBTQ and disability rights. In addition to her prolific writing, she worked with ADAPT, Not Dead Yet, and other disability rights activist groups. Among other issues, she advocated for universal design — a world that is ready-made for all of us — because, as she asked, “what could be more universal than having a body?”
One of Laura’s poems, “You Get Proud by Practicing,” was set to music and also became a rallying cry for many people with disabilities. It’s included in this important book. Here’s an excerpt:
You Get Proud by Practicing by Laura Hershey
If you are not proud
For who you are, for what you say, for how you look;
If every time you stop
To think of yourself, you do not see yourself glowing
With golden light; do not, therefore, give up on yourself.
You can get proud.
You do not need
A better body, a purer spirit, or a Ph.D.
To be proud.
You do not need
A lot of money, a handsome boyfriend, or a nice car.
You do not need
To be able to walk, or see, or hear,
Or use big, complicated words,
Or do any of those things that you just can’t do
To be proud. A caseworker
Cannot make you proud,
Or a doctor.
You only need more practice.
You get proud by practicing.
I don’t know who my father was — and maybe that’s why I got so riled up about a recent news story about “fertility doctors” scamming their patients who were trying to get pregnant by substituting their own sperm for donor sperm.
Try this timed writing exercise: First, make a list of the insults used only against women. Then, make a list of the insults used only against men. Compare your lists.
You’ll see that most derogatory terms for women have to do with promiscuity and most derogatory terms for men have to do with homosexuality.
I used this excercise back in the twentieth century when teaching college writing to women in a re-entry program. The point of the exercise was to demonstrate how language both creates and reflects cultural values. It’s very easy [surprise!] to come up with a long list of insults that get slung against women, but not so easy to write a list of insults slung only against men, especially if you don’t use slurs against specifically gay men. . . .
Somehow, even as a lifelong fan of British women novelists, I’d never read anything by Jo Baker until this month. It’s especially surprising that I never picked up Longbourn, her riff on Jane Austen’s Pride and Prejudice, one of my childhood/young adult faves.
Based on my reading of Longbourn and Baker’s latest, The Body Lies, Baker has the particular storytelling gift of exposing cultural lapses in logic and compassion, and similar lapses in individual readers. In other words, she sets you up like a bowling pin for your own personal epiphany.
Longbourne parallels the plot of Pride and Prejudice by prefacing each of its chapter with a quote from P & P. These function as a sort of shorthand for the where and when of the main characters of Longbourn: Mrs. Hill, the housekeeper, Mr. Hill, the butler, Sarah, the ladies’ maid, and Polly, the char. The acts and concerns of the gentry, however, are as the acts of insects — utterly insignificant, except when they happen to sting. And sting they do, in surprising, devastating ways, often with less consciousness of cause and effect than an insect.
The focus is on the hearts and minds of the people employed by the Bennett family. It is their secrets, their desires, their thoughts, and their concerns that move the novel forward. In the precarious and changing economy of early 18th century England, these characters are as concerned with stability and security as the Bennett daughters, and they make a host of distinct sacrifices to stay afloat. This is a page-turner with a deeply embedded treatise on class division.
Reading up a bit on Jo Baker, I learned that she is a writer who tries something new with each of her books. The Body Lies is set in modern-day England, first in London, and then at a university in the north where the unnamed protagonist, a novelist, is hired to teach creative writing. In addition to weaving characters’ thoughts about the nature of fiction into this tale, Baker also takes on misogyny and violence against women.
This was a difficult read for me because the novel’s antagonist, also a writer, was so much like the man who battered me as a teenager. My experience of intimate partner violence was a textbook example, and Jo Baker nailed the charisma, the narcissism, the sense of entitlement, and the drama-queen gestures of the typical batterer. Readers who’ve been abused may want to know this ahead of time.
That said, the writing is brilliant, the narrator/protagonist is complex, and the book reversed some assumptions I wouldn’t have expected myself to have. In other words, like any great book, it taught me something about myself and about others.
Poets Resist began in 2017 in response to . . . well, you can guess.
It’s a current events poetry project of Glass: a Journal of Poetry, which seeks “poetry that enacts the artistic and creative purity of glass.”
My poem, “Suspect,” appears there today. The poem confronts a few aspects of racism: assumptions, rationalizations, and inaction. The speaker of the poem both is and is not me; perhaps that’s one way racism inhabits even well-intentioned white people.
The poem begins like this:
As many activists have noted, it’s well past time for white people to be reaching out to other white people to confront racism. I’m interested in thoughts that anyone might have about this, or about the poem, which can be read in its entirety here.
The title of the review, “Fresh Confessions,” refers to an observation about how the nature of confessional poetry has expanded in the twenty-first century, as exhibited in Penninsular Scar.
Like Sexton and Plath, Kaminski employs a set of private symbols that may accumulate meaning over time for the reader who follows her work. “Cypress,” for example, appears in many of the poems as a strong, durable building material that nevertheless falls to the same destruction as the rest of Florida. Unlike the confessional poets of the 20th century, however, Kaminski proceeds with a distinctively contemporary aesthetic. The confessions contained in the poems, even those contained in conversations with “my therapist,” avoid a coherent narrative by questioning a sense of self at the center of consciousness and employing syntactical disruption.
Thank you, Twitter! Last year, I saw a tweet asking “What are crackers?” and, as someone who can claim the title, I replied. Later, this poem came around, and it got published in B O D Y Literature on April 1. 2019, the first day of National Poetry Month: https://bodyliterature.com/2019/04/01/michele-sharpe/
Crackers, most simply, are people from Florida, or people whose ancestors have been in Florida for generations. That would be me. But language is rarely simple.
“Cracker” can be a slur hurled against working class white (or white-ish) people.
Some might say that “cracker” is the Florida version of “white trash” or “trailer trash.”
Some might say that a cracker is any white rural Southerner.
Some students of language say “cracker” comes from Middle English or Gaelic “craic,” meaning boaster, braggart, loud talker.
Some historians say the first Florida crackers were landless cowboy types in the 1700’s and 1800’s who herded cattle in the Florida backcountry using whips (the crack of the whip) and dogs.
The term has been used to denigrate loudmouth people since Shakespeare’s time. Yes, I learned this and other things about the etymology of cracker from Wikipedia.
Possession of even a small piece of history can bring us power, whether it’s personal history or cultural history. Such possession can give us context for current situations, and a deeper understanding of motives and patterns of behavior.
I’ve been outraged to see so many people shocked at the government’s cruel treatment of children at America’s southern border. As if children have never been abused here. Please.
Children have always been the least powerful among us and they have always – in every country’s history – been subject to shameful cruelty and exploitation.
Writing poems and essays is one way I try to understand others and myself and to communicate my concerns. My poem, “Moloch upon Awakening,” recently published in the lovely Parentheses Journal, is an attempt to communicate the horror of both child sacrifice, and the very human complicity that makes it possible.