Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

lambchopp59

lambchopp59's Journal
lambchopp59's Journal
May 20, 2019

The wealthy elite increasingly recognises that the socioeconomic status quo in the US is unsustainab

CEO of JP Morgan Chase Jamie Dimon (ranked 1,717th) also noted earlier this year that: "A big chunk of [Americans] have been left behind […] Forty percent of Americans make less than $15 an hour. Forty percent can't afford a $400 bill, whether it's medical or fixing their car. Fifteen percent of Americans make minimum wages, 70,000 die from opioids."

Indeed, the growing impoverishment and despair that are plaguing our country are hard to miss. The US also has the highest rate of income inequality among Western nations, with the top one percent claiming 40 percent of US wealth in 2016, in contrast to a 25 to 30 percent share in the 1980s. According to the rather conservative estimates of the US Census Bureau, around 14 percent of the population or 45 million live in poverty. According to the UN, 8.5 million of them face extreme poverty and 5.3 million suffer in "Third World conditions of absolute poverty".

But in reality, many more Americans struggle to secure a dignified life for themselves and their families. A damning report published by the UN in 2018 found that: "High child and youth poverty rates perpetuate the intergenerational transmission of poverty very effectively, and ensure that the American dream is rapidly becoming the American illusion. The equality of opportunity, which is so prized in theory, is in practice a myth, especially for minorities and women, but also for many middle-class White workers."

https://www.aljazeera.com/indepth/opinion/percent-worried-190505112051522.html

Profile Information

Member since: Sat Dec 3, 2016, 03:31 PM
Number of posts: 2,809

About lambchopp59

Liberal, gay, tree hugging activist whenever I can afford.

Journal Entries

Latest Discussions»lambchopp59's Journal