The very wealthy people of the United States have convinced the rest of us that we are all part of the “middle class.” The poorest of us are part of the “lower middle class.” There are very few “poor people” in America. You see the very wealthy hired some very brilliant marketing experts to sell the rest of us on the idea of a “middle class.” In other countries we would be called “the peasants”. After all which sounds nicer 1) middle class or 2) peasants?
The average family income in the U.S.A. is $70,000. The median White family income in 2003 was $48,000. Read William Domhoff’s “Who Rules America?” and you realize the enormous disparities in wealth in America.
Now we have a new CEO for AIG. That is a company that received loans from the U.S. government totaling $85 billion. The loans have not been repaid. Newly-appointed CEO Robert Benmosche will receive an annual salary of $7 million and is eligible for a performance-related bonus of $3.5 million.
And you thought that things would be different with Barack Obama as president.
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