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The Big Lie see AlterNet....by Les Leopold for full story. America is the richest country on Earth. We have the most millionaires, the most billionaires and our wealthiest citizens have garnered more of the planet's riches than any other group in the world. We even have hedge fund managers who make in one hour as much as the average family makes in 21 years! This opulence is supposed to trickle down to the rest of us, improving the lives of everyday Americans. At least that's what free-market cheerleaders repeatedly promise us. Unfortunately, it's a lie, one of the biggest ever perpetrated on the American people. Our middle class is falling further and further behind in comparison to the rest of the world. We keep hearing that America is number one. Well, when it comes to middle-class wealth, we're number 27. The most telling comparative measurement is median wealth (per adult). It describes the amount of wealth accumulated by the person precisely in the middle of the wealth distribution—50 percent of the adult population has more wealth, while 50 percent has less. You can't get more middle than that. Wealth is measured by the total sum of all our assets (homes, bank accounts, stocks, bonds etc.) minus our liabilities (outstanding loans and other debts). It the best indicator we have for individual and family prosperity. While the never-ending accumulation of wealth may be wrecking the planet, wealth also provides basic security, especially in a country like ours with such skimpy social programs. Wealth allows us to survive periods of economic turmoil. Wealth allows our to go to college without incurring crippling debts, or to get help for the down payment on their first homes. As Billie Holiday sings, "God bless the that's got his own." Well, it's a sad song. As the chart below shows, there are 26 other countries with a median wealth higher than ours (and the relative reduction of U.S. median wealth has done nothing to make our economy more sustainable Based on a true story. |
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Whatever the problem, I'm pretty sure the Obama Administration has a plan to remedy the situation. GBU, Gavin
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Military might seems to make some feel they are the best. I've found that most don't believe the statistics, like it's a conspiracy against them......'You just hate us.'
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6/22/2013 6:10 am |
26 nations may have higher median incomes, but do they have FREEDOM? No price is too high to attain liberty!
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6/23/2013 7:55 am |
The right to have guns for home defence, for starters.
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