Take wealth rather than income, and America's disparity is even more startling. The wealthiest 1% of all households controls 38% of national wealth, while the bottom 80% of households holds only 17%, according to the Economic Policy Institute (EPI). Around 85% of stockmarket wealth is held by a lucky 20%.
That's capitalism at work. World wide statistics are show the top 1% holding even higher % of wealth. Not that there is anything wrong with it. US is the most unequal of the OECD, followed by Switzerland and socialist Canada.
Last I heard there was a free market there (as free as the US at least) and the government didn't own all the means of production.
If you were you trying to say, "They have national healthcare and a few other big social programs thus that makes them a socialist government!!!!" I suggest you read up on what socialism is. [reference.com]
It was ment tongue in cheek. I live there/here - my American friends often refer to it as "socialist" - I think primarily due to the higher personal tax rate, better public schools, and healthcare.
"Be there. Aloha."
-- Steve McGarret, _Hawaii Five-Oh_
News for Nerds? (Score:4, Insightful)
Why is this news that the top dogs are getting even richer?
Re:News for Nerds? (Score:3, Insightful)
That's capitalism at work. World wide statistics are show the top 1% holding even higher % of wealth. Not that there is anything wrong with it. US is the most unequal of the OECD, followed by Switzerland and socialist Canada.
socialist Canada? (Score:2)
Last I heard there was a free market there (as free as the US at least) and the government didn't own all the means of production.
If you were you trying to say, "They have national healthcare and a few other big social programs thus that makes them a socialist government!!!!" I suggest you read up on what socialism is. [reference.com]
Re:socialist Canada? (Score:2)