|
And Now the Richest .01 Percent
|
|
|
 Nov. 19, 2014 | ECONOMY | The richest Americans' political spending has been growing faster than their spending on anything else. So, if you're wondering what happened to our Democracy, just follow the richest .01 percent… Why should we care? Because this explosion of wealth at the top has been accompanied by an erosion of the wealth of the middle class and the poor. In the mid-1980s, the bottom 90 percent of Americans together held 36% of the nation's wealth. Now, they hold less than 23 percent. Despite larger pensions and homes, the debts of the bottom 90 percent – mortgage, consumer credit, and student loan – have grown even faster. Some might think the bottom 90 percent should pull in their belts and stop living beyond their means. After all, capitalism is a tough sport. Continue reading...
|
|
|
|
