News English Lessons
ESL / EFL Lesson Activity on World's Richest 1%

Half of the richest one per cent of people in the live in the United States. This comes from a World Bank economist called Branko Milanovic. His new “The Haves and the Have-Nots” looks at how money is spread the world. He found there are 60 people in the world on $34,000 a , after tax, and 29 million of these live in the U.S. He said this amount is for person, so a of four would need to $136,000 to be among the one per cent.

There are four million people in Germany who get a post- salary of $34,000. The are in Europe, Latin America and a Asian countries. Milanovic also says that middle in America is different from other countries. Most middle class people America do not own their home, have a car or for retirement and their kids’ college education. His book says there is a middle class in the world’s most populated countries, China and India, but it is very small and most Chinese and Indians are .