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Saving America's middle class
The Rich and the Rest of Us
The Atlantic magazine asks the provocative question of whether or not the American middle class can be saved given the research done by Citigroup analysts who concluded that there are now only two distinct classes of Americans: "the rich and the rest."
According to the September 2011 article written by Don Peck, here's what the bank's analysts found about the American financial landscape in 2005 and where we are headed today:
1. The top 1% of households earned as much each year as the bottom 60% of American households.
2. The top 1% of American households hold the same amount of wealth and assets as the bottom 90% of American households.
3. With each passing year, the rich are getting richer.
4. Consequently, all the economic and financial action is with the rich.
For Don Peck's complete article, "Can the Middle Class Be Saved?", visit TheAtlantic.com or Click Here>