U.S. Is The Most Economically Unequal Nation In The G7

 

The picture above is of the leaders of the G7 nations (and two representatives of the European Union). The G7 nations are the richest liberal democracies in the world.

But one of these leaders represents the most unequal nation in the G7. It is President Joe Biden of the United States. The United States is at the same time -- the richest nation in the G7 and the most unequal nation. The chart below shows the World Bank GINI Index of economic equality. The higher the number, the more unequal that nation is with its citizens.

The United States is the most unequal, and has the biggest gap between its rich citizens and the rest of its citizens. In fact, the U.S. is significantly more unequal than the rest of the G7. It gets worse than that though. Out of 159 nations, the United States ranks 51st in inequality. In other words, 108 countries are more equal economically than the United States.

This is both shameful and ridiculous for a nation as rich as the United States. It didn't use to be that way. The inequality was caused by the Republican "trickle-down" economic policy instituted with the presidency of Ronald Reagan, and maintained by congressional Republicans since then. This policy says that when the rich do well, everyone benefits, and the policies make sure the rich have low taxes and high profits while workers wages have basically been static.

The policy has not worked. It has made the rich much richer, but has not benefitted the bottom 90% of the country -- creating a vast and growing gap in income and wealth between the rich and the rest of the nation.

This is one of the biggest problems facing this nation, and it has nearly half of the population living only a couple of paychecks away from poverty. It needs to be fixed.

Unfortunately the Republicans, who control the Senate through the filibuster, will not allow that. They only care about the rich, and will not change their failed economic policy.