What is your perception of the wealth distribution in United States? Better yet, what is the reality of wealth distribution in the United States?
Most people recognize that the US has been the most powerful and wealthy country in the world since around 1976.
And for years United States has been known as the land of opportunity.
The “American Dream”
The dream that a person can start off in the world with nothing and make a prosperous life for oneself. Through hard work, self education, and determination, people have been able to improve themselves socioeconomically.
This has been an inspiration to millions of people all over the world for the last half century.
What a hopeful concept, to have the freedom and the ability to rise up and make a better life for yourself and your family.
But how true is the “American Dream” for those that live in United States these days?
Is the American Dream a Reality Anymore?
You better believe it, but it seems to be dwindling.
There still is so much opportunity to educate yourself through college and trade schools. There are social programs that United States citizens can take advantage of to better their lives. And the United States still offers a thriving market place to start your own business or find employment.
– The United States has the worlds largest national economy with a estimated GDP (gross domestic product) in 2013 of $16.8 trillion.
-That’s 23% of the worlds nominal GDP and 19% of the worlds purchasing power parity. (Facts according to Wikipedia)
But what is changing for the worse in the United States? Americans are starting to feel like the American Dream is no longer easily attainable, that it’s slipping away.
What Happened to the American Dream
From 1947 to 1999, the average household income had been increasing every year. Since then it has been relatively flat and in recent years it has declined.
And what we have found is that the majority of Americans are investing less in America.
- 40% of the wealth in America is held by 1% of America
- 80% of Americans have 7% of the wealth in America
- The top 1% of Americans own 50% of all the stocks in America
- Versus the bottom 50% of Americans only own a half of a percent (0.5%) of stocks in America
Today, the 1% of the wealthiest Americans take home 24% of the total income produced in the United States versus in 1976, that same 1% of the wealthiest Americans took home 9% of the total income.
So what is happening in the United States is quite simple, the Rich are getting Richer and the Poor are getting Poorer.
Perception, the Ideal, and the Reality of Wealth Distribution in the United States?
Below is an amazing video that does an incredible job presenting Americans perceptions, ideal hopes, and the reality of what the wealth distribution is like in the United States.
You can come to your own conclusion as to what this data means, but it’s truly intriguing to see how far off our perceptions are of what the actual wealth distribution is in United States.
The video does a great job simplifying the concepts of how the distribution of wealth is shockingly different than what people perceive the wealth distribution to be in the US. That the history of the United States is changing right in front of our eyes and not for the better.
Instead of having a society where everyone strives to prosper. We’re finding the majority of Americans living paycheck to paycheck, working only to sustain life.
Something that we see more in Third world countries than in developed nations like the United States.
We’re finding the wealthiest people retaining and growing their wealth at staggering rates while the poor and middle class are investing less and less in their futures.
I don’t know what the solution is for the United States economy or what the future will bring. But it sure would be great if mankind helped one another to prosper, grow, and live better lives.
We all strive to live comfortable and happy lives. And sure, most people want to be rich. But how many among us take action to actually bring on change.
Best of luck and as always, if you would like to add anything to the discussion about the video or the information presented here, please feel free to comment below and I’ll get back to you right away.