More signs of rising economic disparity
Senator Bernie Sanders writes that the American Middle Class is being decimated. He cites some interesting numbers. Here’s a couple shockers:
Robert Frank, a Wall Street Journal reporter, has detailed the lives of the rich and famous in the book Richistan. He writes that households with a net worth of between $100 million and $1 billion last year spent an average of $182,000 on watches. Meanwhile, in the real world, 400,000 qualified students were unable to go to college because they lacked the funds.
Frank also details how during this one-year period the economically elite households spent $311,000 on cars, $397,000 on jewelry and $169,000 on spa services. At the same time, President Bush presented a budget in which he proposed cuts that would deny child care to 300,000 families and food stamps for 280,000 families.
- Religiosity is Proportional to Economic Disparity
- It makes ECONOMIC sense to invest in disadvantaged children while they are young
- To make the roads safer, get rid of some of those traffic safety signs
- Dangerous safety signs
- Bush economic policies are triggering dangerous economic and social polarization
Here’s more evidence of the growing disparity. Retail is starting to hurt, except for retailers who sell luxuries. http://www.slate.com/id/2176188/