Tuesday, May 8, 2012

Debt inequality is the new income inequality

Americans are resorting to credit in order to maintain their standards of living. The wealthiest people are investing more money and the rest of Americans are going deeper into debt by buying on credit. The top 5% put money back into the system, making more credit available for the bottom 95% of Americans. For every dollar the working class earns they go $1.48 deeper into debt. The wealthy Americans only go into debt 64 cents for every dollar earned. The working class goes deeper into debt to keep up with the rest of the nation.

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