And the newest third-world country is….America!
That’s right. America looks a lot more like a third-world nation than the wealthiest country in the world.
As CJ Werleman points out over at Alternet, while America is the wealthiest nation in the world, and has the most billionaires in the world, not a single U.S. city ranks among the world’s most livable cities.
Meanwhile, despite our nation’s vast wealth, 14.5 percent of U.S. households were “food insecure” as of 2010, and as of 2011, 1.5 million American household were struggling with “extreme poverty.”
If you want even more proof that America is in the steady decline to third-world status, take a look at the American middle-class today.
For over 30 years, under both Democratic and Republican leaders, we’ve been hooked on Reaganomics policies that have helped the wealthy elite and those at the top, but screwed over everyone else.
Reaganomics has gutted the middle-class, and destroyed the strong and vibrant economy that we once had.
The income gap in America has widened exponentially since Reagan took office and implemented the so-called “Reagan Tax Cuts.”
Between 1947 and 1980, income gains were shared fairly equally between the wealthiest Americans and everyone else.
But then Reagan came to Washington and everything changed.
The wealthy elite began to take home more of our nation’s income gains, while income gains for everyone else began to stay relatively stagnant.
In 1980, the top 1 percent of Americans controlled 10 percent of annual U.S. income.
As of 2007, the top 1 percent controlled 23.5 percent of annual U.S. income; the highest it’s been since the Great Depression.
Between 1979 and 2012, the percentage increase in salary growth for the median American worker was just 5 percent, while growth for millionaire and billionaire executives was off the charts.
As result, the share of the nation’s income going to the middle-class has been in a near nosedive for the past three decades.
Similarly, since the Great Recession, nearly all of our nation’s economic growth has been eaten up by the wealthy elite.
Incomes for the top 5 percent of American households were up just over 5 percent between 2010 and 2012, while those households at the bottom of the income bracket had losses in income during the same time.
And, 95% of income gains during the first three years of the Great Recession recovery were taken in by the top 1 percent.
Meanwhile, as you might expect from these numbers, the American middle-class is no longer the richest in the world.
An analysis done recently by the New York Times found that our neighbor to the north, Canada, actually has the wealthiest middle-class in the world, dethroning America after decades at the top of the list.
And, estimates suggest that the Chinese middle-class is now larger than the entire population of the U.S.
Whether conservatives in Washington like it or not, the key to having a strong economy and a strong nation is having a strong middle class.
It’s not just a coincidence that during a time when the American middle-class is the smallest it’s ever been our economy is also in the gutter.
That’s because middle-class consumption is the demand engine that drives an economy.
Fortunately, while America might look more like a third-world nation today than a global power, there’s plenty of time to turn things around.
And that starts by saying enough is enough to 33 years of failed Reaganomics, and putting in place the economic policies that will allow the middle-class to grow and thrive.
From our trade policies to our tax policies to our labor policies and to the way that we handle big business and banksters, we need to roll back the Reagan Revolution.
Only then will we have a strong economy and a strong and developed nation.
Help us Prepare for Trump’s Day One
Trump is busy getting ready for Day One of his presidency – but so is Truthout.
Trump has made it no secret that he is planning a demolition-style attack on both specific communities and democracy as a whole, beginning on his first day in office. With over 25 executive orders and directives queued up for January 20, he’s promised to “launch the largest deportation program in American history,” roll back anti-discrimination protections for transgender students, and implement a “drill, drill, drill” approach to ramp up oil and gas extraction.
Organizations like Truthout are also being threatened by legislation like HR 9495, the “nonprofit killer bill” that would allow the Treasury Secretary to declare any nonprofit a “terrorist-supporting organization” and strip its tax-exempt status without due process. Progressive media like Truthout that has courageously focused on reporting on Israel’s genocide in Gaza are in the bill’s crosshairs.
As journalists, we have a responsibility to look at hard realities and communicate them to you. We hope that you, like us, can use this information to prepare for what’s to come.
And if you feel uncertain about what to do in the face of a second Trump administration, we invite you to be an indispensable part of Truthout’s preparations.
In addition to covering the widespread onslaught of draconian policy, we’re shoring up our resources for what might come next for progressive media: bad-faith lawsuits from far-right ghouls, legislation that seeks to strip us of our ability to receive tax-deductible donations, and further throttling of our reach on social media platforms owned by Trump’s sycophants.
We’re preparing right now for Trump’s Day One: building a brave coalition of movement media; reaching out to the activists, academics, and thinkers we trust to shine a light on the inner workings of authoritarianism; and planning to use journalism as a tool to equip movements to protect the people, lands, and principles most vulnerable to Trump’s destruction.
We urgently need your help to prepare. As you know, our December fundraiser is our most important of the year and will determine the scale of work we’ll be able to do in 2025. We’ve set two goals: to raise $145,000 in one-time donations and to add 1489 new monthly donors by midnight on December 31.
Today, we’re asking all of our readers to start a monthly donation or make a one-time donation – as a commitment to stand with us on day one of Trump’s presidency, and every day after that, as we produce journalism that combats authoritarianism, censorship, injustice, and misinformation. You’re an essential part of our future – please join the movement by making a tax-deductible donation today.
If you have the means to make a substantial gift, please dig deep during this critical time!
With gratitude and resolve,
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