US GDP 60000 dollars per capita. US median hourly wage 18 dollars an hour?
How is this okay?
- L. E. GantLv 75 months agoFavorite Answer
The GDP is as much about the amount people spend as what they earn....
In a healthy economy, it should be 6 or more times the median income
- Anonymous5 months ago
Some people don’t want to work hard enough for $60,000.
If you’re willing to earn less, don’t be mad about it.
- PatLv 75 months ago
It's not. Right now in the United States of America three families control more wealth than the bottom half of our country, some 160 million Americans. The top 1% own more wealth than the bottom 92%. 49% of all new income generated today goes to the top 1%. In fact, income and wealth inequality today is greater in the United States than at any time since the 1920s. When we talk about oligarchy, it is not just that the very rich are getting much richer, it is that tens of millions of working class people in the wealthiest country on earth are suffering under incredible economic hardship desperately trying to survive. Today nearly 40 million Americans live in poverty and tonight some 500,000 Americans, including many veterans, will be sleeping out on the streets. About half of our country lives paycheck to paycheck as tens of millions of our people are an accident, a divorce, a sickness, or a lay off away from economic devastation. While many public schools throughout the country lack the resources to adequately educate our young people, we are the most heavily incarcerated nation on earth.
After decades of policies that have encouraged unbridled corporate greed, we now have an economy that is fundamentally broken, and grotesquely unfair. Even while macroeconomic numbers like GDP, the stock market, and the unemployment rate are strong, millions of middle class and working class people struggle to keep their heads above water while at the same time the billionaire class consumes the lion’s share of the wealth that we are collectively creating as a nation. In the midst of a so-called booming economy, real wages for the average worker have barely risen at all and despite an explosion in technology and worker productivity, the average wage of the American worker in real dollars is no higher than it was 46 years ago, and millions of people are forced to work two or three jobs just to survive.
Here is something quite incredible that tells you all that you need to know about the results of unfettered capitalism. All of us want to live long, healthy, and productive lives, but in America today the very rich live on average fifteen years longer than the poorest Americans. In 2014, for example, in McDonald County West Virginia, one of the poorest counties in the nation, life expectancy for men was 64 years. In Fairfax, Virginia, a wealthy county just 350 miles away, life expectancy for men is 82 years. ~ Bernie Sanders (feel free to google the facts yourself)