Friday, September 11, 2015

Americans are screwed economically: Richest over Middle Class while Europe has people over the Rich

http://www.alternet.org/economy/robert-reich-why-americans-are-screwed-and-europeans-are-not?sc=fb

American corporations distribute a smaller share of their earnings to their workers than do European or Canadian-based corporations.
And top U.S. corporate executives make far more money than their counterparts in other wealthy countries.
The typical American worker puts in more hours than Canadians and Europeans, and gets little or no paid vacation or paid family leave. In Europe, the norm is five weeks paid vacation per year and more than three months paid family leave.
And because of the overwhelming clout of American firms on U.S. politics, Americans don’t get nearly as good a deal from their governments as do Canadians and Europeans.
Governments there impose higher taxes on the wealthy and redistribute more of the wealth to middle- and lower-income households. Most of their citizens receive essentially free healthcare and more generous unemployment benefits than do Americans.
So it shouldn’t be surprising that even though U.S. economy is doing better, most Americans are not.
The U.S. middle class is no longer the world’s richest. After considering taxes and transfer payments, middle-class incomes in Canada and much of Western Europe are higher than in the U.S. The poor in Western Europe earn more than do poor Americans.

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