How Is This Good For A Real Market Economy?
Check these stats out and think about how that effects a market economy, competition, and entrepreneurial opportunity.
- Today, the richest 400 Americans own more wealth than the bottom 150 million Americans.
- The richest 6 members of the Sam Walton family (heirs to the Wal-Mart fortune) own more wealth than the bottom 40 percent of Americans.
- The top one percent owns 40 percent of the nation’s wealth, more than the bottom 90 percent.
- The bottom 60 percent of Americans own less than 2 percent of the nation’s wealth.
- The bottom 40 percent owns less than 3/10ths of one percent of the wealth in this country.
- According to a new study from the Federal Reserve, median net worth for middle class families dropped by nearly 40 percent from 2007-2010. That’s the equivalent of wiping out 18 years of savings for the average middle class family.
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