The rapidly growing two tier U.S. economy where the rich get an increasing share of the wealth of the country has a real and worrisome trend. It is eroding support for our basic economic system.
In 2002, 80% of all Americans thought capitalism was the best form of government.
In 2010, 59% of all Americans thought capitalism was the best form of government.
And this trend was particularly pronounced among Americans earning less than $20,000. It as 76% in 2002 and now it is only 44%.
The message is that more and more Americans no longer believe the economic system offers them anything of value. That should worry everyone.
P.S. To put all of this in perspective (sort of), 68% of all Chinese think capitalism is the best form of government.
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