On May 25, 2016, Thom Hartmann writes on The Thom Hartmann Program:
A new poll shows that two-thirds of all Americans would struggle to cover $1,000 crisis.
According to this poll by the NORC Center for Public Affairs Research, this type of crisis spans all incomes.
Three-quarters of people in households making less than $50,000 a year and two-thirds of those making between $50,000 and $100,000 would have trouble coming up with $1,000 to cover an unexpected bill.
Even for the country’s wealthiest 20 percent — households making more than $100,000 a year — 38 percent say they would have at least some difficulty coming up with $1,000.
William R. Emmons, a senior economic adviser at the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis said, “Many families are still struggling with debt from the housing bubble and borrowing boom.
And the recent economic stresses make it much more likely families are going to be fighting basic financial issues.”
http://www.thomhartmann.com/blog/2016/05/two-thirds-all-americans-would-struggle-cover-1000-crisis
Face it, the vast majority of Americans suffer from a serious lack of income to cover basic day-to-day, week-to-week and month-to-month living expenses, and essentially no significant, or zero savings necessary to cover emergency expenses and to provide retirement security.
We need to reform the system to empower EVERY child, woman, and man to secure new income sources, namely wealth-creating, income-producing capital assets embodied in viable growth corporations. This can be accomplished by empowering EVERY child, woman and man to acquire personal OWNERSHIP stakes in the FUTURE formation of wealth-creating, income-producing capital assets using INSURED, INTEREST-FREE capital credit, repayable out of the FUTURE earnings of the investments, without the requirement of PAST SAVINGS, a job or any income from any source. Instead their solution is solely viewed interns of raising the minimum wage, which continues the serfdon status of the vast majority of Americans now employed in minimum wage sectors of the economy. A boost in the minimum wage is not the solution to economic inequality. Widespread, universal personal wealth-creating, income-producing capital asset property OWNERSHIP is, and is the true path to inclusive prosperity, inclusive opportunity, and inclusive economic justice.
Support the Agenda of The Just Third Way Movement at http://foreconomicjustice.org/?p=5797, http://www.cesj.org/resources/articles-index/the-just-third-way-basic-principles-of-economic-and-social-justice-by-norman-g-kurland/, http://www.cesj.org/wp-content/uploads/2014/02/jtw-graphicoverview-2013.pdf and http://www.cesj.org/resources/articles-index/the-just-third-way-a-new-vision-for-providing-hope-justice-and-economic-empowerment/.
Support Monetary Justice at http://capitalhomestead.org/page/monetary-justice.
Support the Capital Homestead Act (aka Economic Democracy Act) at http://www.cesj.org/learn/capital-homesteading/, http://www.cesj.org/learn/capital-homesteading/capital-homestead-act-a-plan-for-getting-ownership-income-and-power-to-every-citizen/, http://www.cesj.org/learn/capital-homesteading/capital-homestead-act-summary/ and http://www.cesj.org/learn/capital-homesteading/ch-vehicles/.
See my article entitled “The Solution To America’s Economic Decline” at http://www.nationofchange.org/solution-america-s-economic-decline-1367588690.
