With 40 Million in Poverty, US Is Most Unequal Developed Nation

A recent study concluded 40 million people in the US live in poverty and more than half of those live in “extreme” or “absolute” poverty. The report details US policies that favor the rich and exacerbate poverty.

The report cites vast numbers of Americans “perched on the edge” of falling into extreme poverty, with 40 percent of the adult population unable to cover an unexpected $400 expense.

The report criticized President Donald Trump’s $1.5 trillion tax cut package, that benefits the wealthy and worsens the situation for the poor. Corporations have used the tax cuts to purchase robots, buy back stock and fire masses of workers.

The top 0.1 percent has seen their hoarded wealth grow steadily in recent years, while the wealth and income of the bottom 90 percent has fallen for most of the past three decades.

 

 

Photo: “american dream” by Igor Spasic is licensed under CC BY 2.0

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