Welcome to America, where half the nation lives right on the razor’s edge. A shocking new report out of the Corporation for Enterprise Development, finds that 44% of Americans are just one financial shock away from complete ruin. Nearly half the nation doesn’t have enough savings to keep them out of poverty for more than 3 months, should they suffer a job loss, an accident, a sickness, or other financial shock.
Another recent study out of the Consumer Federation of American, found that 40% of all American households live paycheck-to-paycheck, with virtually no savings. This is what’s become of the once valued American middle class, after thirty years of trickle-down Reaganomics. And it’s the main reason why are economy continues to falter – our nation's working people and consumers don’t have enough money to spend.
Let’s roll back the Reagan tax cuts – put in place a new wealth tax on everyone making over a billion dollars and redistribute some of that wealth down to working people, who will actually spend it. Go to NoBillionaires.com
Listen to The Thom Hartmann Program Monday through Friday 3 PM to 6 PM on WWRL AM 1600.