Study Finds U.S. Has Second Worst Wealth Inequality in World
by Randy Shaw
A new study—buried by the media—has found the United States second only to Switzerland in the disparity between the net worth of its top 10% and everyone else. The report follows a recent study that found that America’s wealthiest top 1% earned the highest share of the national income since the 1920’s. Only Switzerland exceeded America in its extent of skewed wealth distribution.
It was not that long ago that Americans would look at countries in South America or Asia and decry the vast disparities in wealth between the rich and everyone else. These nations were seen as politically controlled by a wealthy elite, who enriched themselves at the expense of the poor and middle-class. Based on the study, America now fits this category. (more…)
