The Myth of American Poverty
America currently has around $98 trillion in total household wealth. And, according to a study from the National Bureau Of Economic Research, the wealthiest 20 percent of the country owns 90 percent of that wealth.
However, is that a bad thing? Bernie Sanders thinks so, of course. He says it’s a sign of the injustice of the American economy.
But there’s nothing wrong with a fraction of people owning most of the wealth. As long as they earned it.
And that’s the key point right there. No one cares if other people are rich. No one complains when movie stars, athletes, and musicians make millions and millions of dollars. In fact, no one cares that Bernie himself is a millionaire. People are perfectly fine with rich people if they think they earned their wealth.
Bernie is right, in a sense. America DOES have a problem of wealthy elites sitting on piles of unearned wealth. The problem is, he’s one of them. And he’s running on a platform that would just empower them even more.
People like Bernie want to convince you that you’re screwed without him there to point a gun at someone and tell them to pay for your stuff. Because that’s how he makes his living: through lies and extortion in the pursuit of power.
The real measure of health in an economy is economic mobility. Are you trapped in your income bracket? Or do you control just how far into that top 20 percent you can go?
You won’t hear this anywhere else. But you don’t need politicians to save you from poverty. If you’re reading this, you’re already wealthier than the vast majority of humans in all of history. And you have the tools at your disposal RIGHT NOW to teach yourself the skills you need to ensure your freedom.
Intro music by Nick White, producer of The Statist Quo