Are Americans poor? Research suggest that fewer than 40% have less than $50,000 in savings.?

Our give it to me today lifestyle might catch up. Earlier generations postponed many gratifications in order to ';move up'; the economic chain to self reliance. I'm not sure if the sales tax revenue today from the many, many, many, many luxury items we are buying only postpone certain problems. If the money spent on rims, stereos, jewlery, video games , drugs, ect... is not being invested into ones future will this not in the end cost American taxpayers their wealth...