Filed under: Capitalism, Economy, Energy, Freedom, The United States | Tags: Capitalism, Free Markets/Free People, The World's Rich & Poor
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If you made as much as $34,000 last year, you are now part of the world’s richest 1%.
World Bank economist Branko Milanovic puts it all in perspective:
The true global middle class, falls far short of owning a home, having a car in a driveway, saving for retirement and sending their kids to college. In fact, people at the world’s true middle — as defined by median income — live on just $1,225 a year. (And, yes, Milanovic’s numbers are adjusted to account for different costs of living across the globe.)
In the grand scheme of things, even the poorest 5% of Americans are better off financially than two thirds of the entire world.
Each one of those little human figures represents one million people. Just something to think about.
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