The top 1%

Lodhi

Chief Minister (5k+ posts)

With 1% of Americans controlling 40% of the country's wealth, we examine the gap between the rich and the rest.

Inequality in the US is more extreme than it has been in almost a century - and the gap between the super-rich and the poor and middle class people has widened drastically over the last 30 years.
Meanwhile, in Washington, a bitter partisan debate over how to cut deficit spending and reduce the US' $14.3 trillion debt is underway. As low and middle class wages stagnate and unemployment remains above nine per cent, Republicans and Democrats are tussling over whether to slash funding for the medical and retirement programmes that are the backbone of the US' social safety net, and whether to raise taxes - or to cut them further.
The budget debate and the economy are the battleground on which the 2012 presidential election race will be fought. And the US has never seemed so divided - both politically and economically.
How did the gap grow so wide, and so quickly? And how are the convictions, campaign contributions and charitable donations of the top one per cent impacting the other 99 per cent of Americans? Fault Lines investigates the gap between the rich and the rest.
 

Bombaybuz

Minister (2k+ posts)
My russian teacher of intl business relations once explained to me that democracy of America "American democracy is as such that they(Govt) will tell you go to h*ll ... now its up to you where you go" and now after amlost 10 years i realise every single world of this statement is worth in gold ..not in $ mind you..
 

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