How could the wealthiest nation in the world have the highest poverty rate of all industrialised countries?

Question

Data shows that wealth is concentrated in the hands of the few. The wealthiest 1 percent owns roughly 33.4% of the nation's net worth, the top 10% of households owns over 71%, and the bottom 40% of households owns less than 1%. People of colour, single mothers and children who are hit the hardest. 24% of African Americans and 22.5% of Latinos live below the official poverty line, nearly twice the national rate. Poverty is highest among single mothers. 28% of female-headed families are living in poverty, compared with 5.4% of two-parent households. One in six children lives in poverty; one in eight - 9.3 million - children have no health insurance; and up to 13 million children live in households suffering from the effects of hunger.

However, in 2003, the top 50 outsourcing corporations paid their CEOs an average of $10.4 million, a nearly 50% increase from a year before. Does the American Dream still exist for the 35.9 million Americans living in poverty today?

N.B. I state industrialised countries not developing countries.

Answer 1

Your statistics are mildly interesting. However, they would be more meaningful if they were a comparison of of the same categories of say, 40 years ago, a measure of CHANGE and the progress being made.. For instance, you use the word "poverty" repeatedly. Over the last 40 years, the definition of "poverty" has been re-defined (upwardly) at least 3 times. 40 years ago people in "poverty" did not have (approximately) : color TV sets, separate living quarters, subsidized medicines, subsidized health care, free emergency health care, free food stamps, free dental care, subsidized transportation, Free, for children: sports, sports equipment, student lunch programs, Xmas toys, donated clothing, etc. No, Dr. Pangloss, we do not live in the most perfect of all perfect worlds (nation)
As a youth in the 1930s I observed many people I knew, repeatedly buying dog food (4 cents per 10 oz. can) - and they DIDN'T own pets. Guess who the food was for?
The "American Dream", does it still exist? You betcha. At least thousands and thousands (millions?) of non-Americans think so. Every day the news stories indicate that they are somehow (legally and illegally) gaining entrance into our country to find it. To realize it. To live it
A relatively unmeasurable fact is American (upward) mobility, the "rags (poverty) to riches" experiences that that many of us have either observed or experienced.
P.S. I am a first generation (born) American. My great-great grandfather was a slave.

Answer 2

In a nutshell the US does not look after its unfavorable or attempt to advance them out of poverty. The education equipment fails many people and the subculture interior the US is responsible those people for being lazy rather than attempt to evaluate the genuine motives at the back of the concern. i've got faith the country is a foul occasion of management interior the international - imaginitive suggestions are pushed aside out of hand by potential of a media and government which panders to a failed ideology and company elite. as a consequence many workers savour few rights and can do long hours to make ends meet on an identical time as those on the suitable stay lavish life. in view that Thatcher the united kingdom has pursued comparable financial regulations and now enjoys 2nd place interior the league.

Answer 3

i agree with that first answer. most ppl in the us who are considered in poverty still have that basic needs like a place to live and and a tv and stuff. they may not have a lot, but they can get by.

Answer 4

The poor here in the US are rich in comparison to most people in third world countries.

Answer 5

You should learn to be more thankful than to be spiteful. Wether that imbalance is true or not, poverty is but a relative term...

Answer 6

The rich get richer and the poor get poorer. Its the evil of capitalism.

Answer 7

Come on Neo Cons answer.

Answer 8

ITS CALLED GREED !!! THE RICH WANT MORE ,MORE AND HAVE THE MONEY TO GET THE BETER DEALS, IN LIFE EVEN BETTER TREATMENT ( BY OUR PUBLIC SERVENTS) ITS A SNOW BALL . THE ONE THING THAT MOST THE RICH DONT HAVE IS PEACE AND HAPPY DAYS . THEY THINK ALL OTHER PEOPLE ARE TRYING TO GET THERE MONEY IN MY BOOK THAY CAN BURN IT ALL---- I DONT NEED THE HASLE --- JFB