The retirement divide grows larger each year.
Most Americans have no retirement strategy. In fact, the new model of retirement appears to be work until you die. It isn’t an uncommon model. In fact, this used to be the status quo for centuries on end. Some tend to believe that having a middle class is the natural order of things. That is simply not true. The middle class needs to have an economic system that favors those that work hard instead of protecting a modern day corporatocracy where politicians simply protect those that pay them off. This is the new system in place. So it is no surprise that 100 American CEOs now have as much retirement wealth as 116 million Americans. It is no surprise then that many older Americans are going to rely on Social Security as their primary source of income into retirement. As you would expect in older age medical costs go up so the burden on Medicare will also rise. The retirement divide simply grows larger in this country.
Top 100 CEOs have as much retirement wealth as 40% of American families
The wealth divide in the US simply grows larger as each year passes. While worker productivity is up not much of this is trickling down to American families. CEOs are making roughly 300 times more than your typical worker.
During the heyday of the US middle class, CEOs where making roughly 20 times the income of the typical worker. But look at what has happened since then:
You can see starting in the 1990s that CEO pay went completely haywire. It is also no shock that we’ve had some of the biggest recessions in our country since then with the tech bust and the Great Recession that is still lingering. Many families struggle to get by and most Americans live paycheck to paycheck.
Please follow SGT Report on Twitter & help share the message.