American Exceptionalism? 1 Out of 10 of the World’s Poorest People Live in the US
While the Republicans insist on boasting American exceptionalism, their policies actually perpetuate the opposite. In reality, America isn’t as exceptional as the GOP wants to believe. Ten percent of the world’s poorest people live in the United States.
In America, 50 million of the country’s 243 million adults are living in considerable poverty as part of the world’s poorest 10 percent. More than 110 million American adults are part of the world’s richest 10 percent. New wealth has exploded since 2009, with the richest top 10 percent increasing its net worth by at least $1 million.
The average one percenter has hoarded $5 million since the recession, on average, while the American middle class is struggling. America is the only region where the middle-class doesn’t own its equivalent share of wealth.