AMERICANS MAKE UP HALF OF THE WORLD’S RICHEST 1%
By Annalyn Censky @CNNMoney January 4, 2012
It only takes $34,000 a year, after taxes, per person, to be among the richest 1% in the world….
Driving home today, I heard a segment on NPR (couldn’t find it online) reporting on Romney facing a tough crowd in New Hampshire. One of the exchanges that caught my attention was Romney’s response to a question from a voter dissatisfied with “trickle down” economics. Romney fired back with a dare to “name one country with the same GDP per capita” as the US—implying that the US economy was (relatively?) successful because it was the richest in the world.
There’s two problems with that statement: The first is that it’s not true. The second is that GDP per capita is not the best metric.