Bush's Ownership Society: Great Idea, If Low-Income Families Benefit

September 29, 2004 | Christian Science Monitor |

Senior Fellow David Callahan explains why President Bush — like many politicians from both parties — underestimates the obstacles to creating a nation of wealth holders.

It is easy to believe that an ownership society is just around the corner. Nearly 70 percent of households own their home, the US Census Bureau reports, a historic high. And some 50 percent of households own stock, a huge increase from two decades ago. These statistics, however, tell only part of a largely unhappy story about wealth and ownership trends in America.