4 ms·
These mega corps are the product and the cause of America being the wealthiest country on earth.
by ITB 3y ago
These mega corps are the product and the cause of America being the wealthiest country on earth.
- delfinom 3y agoCause of 1% of Americans owning all of the wealth of America.
- soco 3y agoAccording to Wikipedia, not USA is the wealthiest country on earth.
- foreverobama 3y ago[dead]
- toomuchtodo 3y agoAmerica isn't wealthy, only the shareholders are. Per the Fed: https://www.stlouisfed.org/institute-for-economic-equity/the-state-of-us-wealth-inequality https://www.stlouisfed.org/institute-for-economic-equity/the... ("The State of U.S. Wealth Inequality | February 05, 2024") > How much wealth inequality is there in the U.S.? > The top 10% of households by wealth had $6.5 million on average. As a group, they held 66.6% of total household wealth. > The bottom 50% of households by wealth had $50,000 on average. As a group, they held only 2.6% of total household wealth.
- delfinom 3y agoLet's not forget that the US poverty line is artificially kept low using an outdated formula to generate better outlooks and not show the economy has been destroyed since the 1960s for the average person. Officially the formula is >The official poverty line as currently defined by the Census Bureau is "three times the cost of a minimum diet in 1963" – meaning it's measured by how much families spent on food five decades ago. If the poverty formula were correctly updated to reflect shelter (i.e. housing/rent), I bet 50% of Americans would be classified as living in poverty.
- feedforward 3y agoEuropeans crossing the oceN, committing genocide against the native population and having a slave and Jim Crow society in the resource rich third biggest land mass country in the world is what made America rich. (China has the fourth largest land mass and on some measures is wealthier than the US)
- ryan93 3y agoSome of those things actually made us poorer. Why weren't the natives rich with all that land?