Paris
- Income inequality in the US is now the most extreme of all
countries. The 2008 OECD
report 'Income Distribution and Poverty in OECD
Countries'
concludes that the US is the country with the highest inequality and poverty rate across the OECD and that since 2000 nowhere has there been such a stark rise in income inequality as in the US.
The OECD finds that in the US the distribution of wealth is even more unequal than the distribution of
income.
The increase in US income inequality in the 21st century coincides with the offshoring of US
jobs, which enriched executives with 'performance
bonuses' while impoverishing the middle class, and with the rapid rise of unregulated OTC
derivatives, which enriched Wall Street and the financial sector at the expense of everyone
else.
Millions of Americans have lost their homes and half of their retirement savings while being loaded up with government debt to bail out the banksters who created the derivative
crisis. The financial insiders running the Treasury, White House, and Federal Reserve
(Rubin ,
Greenspan
etc.) shifted to taxpayers the cost of the catastrophe that they had
created. Goldman Sachs, saved with the public’s
money, recently announced that it was paying massive six and seven figure bonuses to every
employee.
ABCD
According to the OECD
report, Great Britain has the 7th most unequal income distribution in the
world. After the Goldman Sachs bonuses, the British will move up in
distinction, followed by Merkel's Germany.
