Disposable
Americans: The Numbers are Growing
By Paul
Buchheit
May 23,
2016 "Information
Clearing House"
- "CD"
-
As often noted in the passionate
writings of
Henry Giroux, poor Americans are becoming
increasingly 'disposable' in our winner-take-all
society. After 35 years of wealth distribution to
the super-rich, inequality has forced much of the
middle class towards the bottom, to near-poverty
levels, and to a state of helplessness in which they
find themselves being blamed for their own
misfortunes.
The evidence keeps accumulating: income and wealth
-- and health -- are
declining for middle-class America. As wealth at the
top grows, the super-rich feel they have little need
for the rest of society.
Income Plummets for the Middle Class
According to
Pew Research, in 1970 three of every
ten income dollars went to
upper-income households. Now five of
every ten dollars goes to them.
The Social Security Administration
reports that over half of Americans make less
than $30,000 per year. That's less than an
appropriate average living wage of $16.87 per hour,
as calculated by
Alliance for a Just Society.
Wealth Collapses for Half of Us
Numerous
sources
report that
half or more of American families have virtually
no savings, and would have to
borrow money or sell possessions to cover an
emergency expense. Between
half and
two-thirds of Americans have less than $1,000.
For every $100 owned by a middle-class household in
2001, that household now has just $72.
Not surprisingly, race plays a role in the
diminishing of middle America. According to
Pew Research, the typical black family has only
enough liquid savings to last five days, compared to
12 days for the typical Hispanic household, and 30
days for a white household.
Our Deteriorating Health
In a disgraceful display of high-level disregard for
vital health issues, House Republicans are
attempting to
cut back on lunches for over 3 million kids.
The evidence for the health-related disposability of
poor Americans comes from a new
study that
finds nearly a 15 year difference in life
expectancy for 40-year-olds among the richest 1% and
poorest 1% (10 years for women). Much of the
disparity has
arisen in just the past
15 years.
It's not hard to understand the dramatic
decline in life expectancy, as
numerous studies have documented the
health problems resulting from the
inequality-driven
levels of stress and worry and anger that make
Americans much less optimistic about the future. The
growing disparities mean that our
children will likely see less opportunities for
their own futures.
It May Be Getting Worse
The sense derived from all this is that
half of America is severely
financially burdened, at risk of falling deeper into
debt.
It may be more than half.
The
Wall Street Journal recently reported on a JP
Morgan study's conclusion that "the bottom 80% of
households by income lack sufficient savings to
cover the type of volatility observed in income and
spending." Fewer than
one in three 25- to 34-year-olds live in their
own homes, a 20 percent drop in just the past 15
years.
It may be even worse for renters. The number of
families spending more than
half their incomes on rent -- the 'severely'
cost-burdened renters -- has increased by a stunning
50 percent in just ten years. Billionaire
Steve Schwarzman, whose company
Blackstone has been buying up
tens of thousands of homes at rock-bottom prices
and then
renting them back while waiting out the housing
market, finds the growing anger among voters
"astonishing."
What's astonishing
is the disregard that many of the super-rich have
for struggling Americans.
Paul
Buchheit is a college teacher, an active member of
US Uncut Chicago, founder and developer of social
justice and educational websites (UsAgainstGreed.org,
PayUpNow.org, RappingHistory.org), and the editor
and main author of "American
Wars: Illusions and Realities" (Clarity Press).
He can be reached at
paul@UsAgainstGreed.org. |