Scotties Toy Box

December 17, 2017

Oh, Boy, Oh, Boy … We’re Number One!

Filed under: News — Scottie @ 18:56

Thank you for pointing out the fact that Western Europe has had a totally different outcome. I think we have started to do something about this. IF the different groups that are trying to get money out of politics have any support from the people then they can get candidates elected that will be responsive to the people not corporations. The politicians brag on and depending on the electorate having no memory of the proclamations they made that do not come true and the horrible things they have done. I once heard a congressman claim his misdeeds would be forgotten by the next time he ran for office. I think the frustration level is a a boiling point now and big changes are coming despite the politicians rigging the system to protect themselves. Hugs

Class Warfare Blog

The U.S. is demonstrating our exceptionalism to the rest of the wold not only by making war around the globe, but also now we are number one in income and wealth inequality.

Since 1980, when western Europe and the U.S. showed similar levels of inequality, the gap between the richest and the rest has surged in the U.S., while in western Europe it has increased only moderately.

In both regions, the top 1% of adults earned about 10% of national income in 1980. Today that cohort’s share has risen modestly to 12% in western Europe, but dramatically to 20% of all income in the US. The good times have been especially good for those at the very top in the U.S., with annual income booming by 205% since 1980 for the top 1%, and by 636% for the top 0.001%.

The American population … has it benefited from this wealth…

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