The Wealthiest Country in the World?... 146.4 Million Americans Living in Poverty

Submitted by SadInAmerica on Tue, 12/20/2011 - 4:24pm.



A report by the US Census Bureau reveals that half of the country's population has fallen into poverty or is scraping by on earnings that classify them as low income.

Based on a new supplemental measure by the Census Bureau more than ninety seven million Americans are considered to have low-income, defined as between 100 and 199 percent of the poverty level.

Another 49.1 million Americans live below the poverty line, meaning 146.4 million Americans, or 48 percent are considered low-income or poor.

Meanwhile, according to a Governance Metrics International survey, American CEOs saw pay increases of between 27 percent and 40 percent last year.

Analysts believe the incredibly unequal top-down distribution of wealth in the US has formed an elite group who controls most aspects of the country's affluence.

Press TV talks with Brent Budowsky, a columnist with The Hill newspaper, to discuss the issue further. Below is the text of the interview.


See full article HERE


Tag this page!
Submitted by SadInAmerica on Tue, 12/20/2011 - 4:24pm.