Sunday, July 25, 2010

USA's middle class is being wiped out

The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
In America today, the average time needed to find a job has risen to a record 35.2 weeks.

SHOOT: This can't be good.
clipped from

The 22 statistics detailed here prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America.

The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace.

61 percent of Americans "always or usually" live paycheck to paycheck,
which was up from 49 percent in 2008 and 43 percent in 2007
83 percent of all U.S. stocks are in the hands of 1 percent of the people
66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans
36 percent of Americans say that they don't contribute anything to retirement savings
A staggering 43 percent of Americans have less than $10,000 saved up for retirement
24 percent of American workers say that they have postponed their planned retirement age in the past year
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