Ten years ago the U.S. ranked number one in average wealth per adult. Today? According to one of the factoids gathered by Michael Snyder and augmented by John Lounsbury at Seeking Alpha, we've fallen to seventh place – behind Switzerland, Australia, Norway and Sweden, among others.
Maybe number seven isn't bad, considering that America's savings rate suggests we prefer poverty to wealth.
Cheerier note: Lounsbury presents data showing we're number one when it comes to low tax rates.
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4 comments:
The real problem is factoid #23, that federal spending is up to an astonishing 36% of GDP. That is serious wealth destruction.
Thanks for your post asking whether or not America is losing the "wealth game." I had no idea that some have suggested we're down to number 7. Thanks for the info.
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