We believe in freedom but unfortunately, our economic system does not lend itself to a real free society. Why? That is what we discuss today.
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Many politicians attempt to equate our economic system with freedom. Economist and Professor Dr. Richard Wolff appeared on Politics Done Right and stunned me with a statement. He equated capitalism with feudalism and slavery. This is something I have been saying for some time and it was reaffirming coming from a renowned economist.
CNBC: Here’s why millennials have to fight harder than their parents did to stay in the middle class. The middle class is on the decline across the wealthiest countries in the world and the shift is hitting the youngest generations hardest, according to a new report published by the Organization for Economic Cooperation and Development (OECD). Today, just 60% of millennials (those born between 1983 and 2002) are considered middle-class, compared to 70% of baby boomers (those born between 1943 and 1964) when they were in their twenties, according to the report, “Under Pressure: The Squeezed Middle Class.” Worldwide, the share of households considered middle-class has slipped from 64% in the 1980s to 61% today. The report, which analyzed the 36 largest economies in the world, defines the middle class as those earning between 75% to 200% of the median national income. In the U.S., that translates to annual earnings of between $23,416 and $62,442 for a single worker.
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