Sunday, April 03, 2016
U.S. Trails Developed World In % Of Middle Class Wealth
The United States is still the richest nation in the world. But that does not mean everyone in the country gets to share in that wealth. The sad fact is that far too much of that wealth is soared by far too few people (the 1%, and more specifically, the 0.1%). The poor have only a negligible amount of that wealth, and the middle class share of that wealth is shrinking more every year (thanks to the GOP's trickle-down economics, which has tilted the economic playing field to favor the rich).
The chart above, from the Business Insider, is the 2015 Credit Suisse Global Wealth Report. It shows that in the United States, the middle class has a smaller percentage of national wealth than in every other developed country. The GOP policy has caused the middle class to shrink (and it continues to shrink) -- and the percentage of wealth once owned by the middle class is going to the rich now (which just continues to widen the wealth and income gap between the rich and the rest of America).
Our economic system is out of whack. As Senator Elizabeth Warren says, it is "rigged" to favor the rich. There is only one way to change that -- to vote the Republicans out of power this November.