04/21/2014 10:57 am ET Updated Jun 21, 2014

Watch: America's Mad Dash Toward Oligarchy

Previously published on

A new report shows that top CEOs were paid 331 times more than the average U.S. worker in 2013. At the same time, the poorest fifth of Americans paid an average tax rate of 11 percent while the richest one percent contributed half that rate at state and local levels. In this essay, Bill reflects on the forces that are causing inequality to skyrocket, why it matters and where we're headed in the future.

Watch Bill's interview with Paul Krugman: What the 1% Don't Want You to Know.