The Evening Post Stuff

The Evening Post: Gap Between The Rich and Everyone Else

Geek Alabama Evening Post

This is a video everyone needs to watch!  Over the last few years the gap between the rich and poor has gotten wider.  Critics have criticized the low savings rate by Americans.  The average family puts away less than 4 percent of its income.  The biggest reasons why the savings rate is so low is because of low wages and the high cost of living.

In this video titled “Wealth Inequality in America,” this video casts an interesting angle on the plummeting savings rate.  Set to depressing piano music and packed with crystal-clear animations, it gives a powerful snapshot of the American economic landscape. Noting that “The top 1 percent own nearly half the country’s stocks, bonds, and mutual funds,” the video goes on to contrast those impressive holdings with the rest of the country.  By comparison, it points out, the bottom 50 percent of earners own only 0.5 percent of those investments.

It isn’t hard to see why there is such a yawning gap between the richest Americans and the rest of us. Since 1976, the share of national income earned by the top one percent of workers has nearly tripled, from 9 percent to 24 percent.  The economy has roughly doubled in size over the last 30 years — and, in an ideal world, more money in the economy should mean more money in everyone’s pocket.  So you must say there is a big problem with money in this country!  I hope you watch this video!