The Importance of Wealth Redistribution and Decolonization

As wealth inequality has skyrocketed since the 1980s, disproportionately impacting people of color, and the US/UK both still have colonies, reparations should be front and center in today's politics.

Over three years ago, an Oxfam report found that just 26 billionaires own as much wealth as the world’s poorest 50% of people. Fast forward to last year and a report from the Institute for Policy Studies found that the combined wealth of all US billionaires went from $2.947 billion to $5.019 billion while nearly 100 million around the world fell into poverty.

These numbers alone should be enough to shock any poor and working-class person struggling to support their family. The racial wealth gap demonstrates how this trend is a continuation of colonialism that has yet to be reversed.

In 2016, while the median income for white families was $171,000, for black and hispanic families it was $17,600 and $20,700 respectively.

That means white families have a shocking *8 times* more family wealth in America. If that statistic alone doesn’t make the case for reparations, I don’t know what would. Yet for some reason, conversations about setting CEO-to-worker pay and wealth caps to prevent anybody from ever having that much concentrated wealth never seem to pick up steam. Heck, we can’t even pass a $15 an hour minimum wage despite years of popular support.

To put it into historical context, a study from over a decade ago found that the 1% in the Roman Empire held 16% of the wealth while in the United States, that number was 40%. And that’s before COVID-19.

It’s slightly better in the United Kingdom, with the top 10% having 43% of the country’s wealth, with the bottom 50% having just 9%. It doesn’t help that they’re still a monarchy considered the Head of State in numerous countries, a vestige of the colonial past no matter how powerless they’re argued to be in the country’s parliamentary monarchy.

In a sign of what the future of decolonization might hold, Barbados stopped pledging allegiance to the Queen last year and became an independent republic, while Jamaica announced their intentions to do the same. In Canada, just over 50% are in favor of abolishing the monarchy in the generations to come. In Australia, newly elected Prime Minister Anthony Albanese appointed an assistant minister for the republic, raising rumors about another potential referendum to become a Republic after their last one narrowly failed with 55% in 1999.

The US has its own colonial issues to deal with too, owning 12 territories and 2 commonwealths. Both are just weasel words for colonies in my opinion as they only have *non-voting* representatives in Congress and can’t vote in national elections, despite the fact that policy there is so heavily controlled by the federal government.

In a similar sign of the decolonial progress happening right now globally, the US has finally agreed to *allow* (a colonial act in-and-of-itself) Puerto Rico to have a vote on whether they’ll become a state, have sovereignty in free association, or go independent.

These acts, while certainly a sign of progress, are only the tip of the necessary decolonial iceberg. It can’t be forgotten that while there is some progress being made, the statistics still tell a story of worsening wealth inequality globally and if history is any indication, with it will likely come the billionaire class still exploiting poorer countries in such a way where they gain a greater profit than those they’re allegedly there to help. While the British monarchy is largely symbolic, shouldn’t people ask themselves why we continue to uphold an institution that’s symbolism, like hyper-capitalist America, still screams “let them eat cake” to the disproportionately oppressed masses, both in their own countries and those they influence around the world?

As Ursula K Le Guin said, “We live in capitalism. Its power seems inescapable. So did the divine right of kings. Any human power can be resisted and changed by human beings. Resistance and change often begin in art, and very often in our art, the art of words.”

Sooner or later, something’s got to give. The poor and working-class deserve to thrive, not struggle to survive while others live luxurious lives.