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50% Of American Workers Make Less Than $28,031 A Year.

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  • 50% Of American Workers Make Less Than $28,031 A Year.

    Where you surprised ? That's pretty low. The US is in a depression yet the propaganda has convinced them that they are in a "recovery"

    From Zerohedge

    The Social Security Administration has just released wage statistics for 2013, and the numbers are startling. Last year, 50 percent of all American workers made less than $28,031, and 39 percent of all American workers made less than $20,000. If you worked a full-time job at $10 an hour all year long with two weeks off, you would make $20,000. So the fact that 39 percent of all workers made less than that amount is rather telling. This is more evidence of the declining quality of the jobs in this country. In many homes in America today, both parents are working multiple jobs in a desperate attempt to make ends meet. Our paychecks are stagnant while the cost of living just continues to soar. And the jobs that are being added to the economy pay a lot less than the jobs lost in the last recession. In fact, it has been estimated that the jobs that have been created since the last recession pay an average of 23 percent less than the jobs that were lost. We are witnessing the slow-motion destruction of the middle class, and very few of our leaders seem to care.

    The "average" yearly wage in America last year was just $43,041. But after accounting for inflation, that was actually worse than the year before...And please keep in mind that "average pay" is really skewed by the millionaires and billionaires at the top end of the spectrum.
    Median pay in 2013 was just $28,031.02. That means that 50 percent of American workers made less than that number, and 50 percent of American workers made more than that number.
    Here are some more numbers from the report that the Social Security Administration just released...
    -39 percent of American workers made less than $20,000 last year.

    -52 percent of American workers made less than $30,000 last year.

    -63 percent of American workers made less than $40,000 last year.

    -72 percent of American workers made less than $50,000 last year.
    I don't know about you, but those numbers are deeply troubling to me.
    It has been estimated that it takes approximately $50,000 a year to support a middle class lifestyle for a family of four, and so the fact that 72 percent of all workers make less than that amount shows how difficult it is for families that try to get by with just a single breadwinner.
    The way that our economy is structured now, both parents usually have to work as hard as they can just to pay the bills.
    But there was one group of Americans that did see their incomes actually increase last year.
    Those making over 50 million dollars had their pay increase by an average of $12.8 million in 2013.
    For everyone else, the news was not good.
    And of course this is a trend that has been going on for a long time.
    Posted below is a chart that comes from the Federal Reserve. It shows how real median household income in the United States has declined since the year 2000...




    Meanwhile, the cost of living has continued to rise at a steady pace.
    Needless to say, this is putting a tremendous squeeze on the middle class. With each passing day, more Americans are losing their spots in the middle class and this has pushed government dependence to an all-time high. According to the U.S. Census Bureau, 49 percent of all Americans now live in a home that receives money from the government each month. This is completely and totally unsustainable, but our long-term economic problems just keep getting worse.
    Our politicians have stood by as millions upon millions of good paying jobs have been shipped out of the country. Millions of other middle class jobs have been lost to technology. This has resulted in intense competition for the middle class jobs that remain.
    And at this point we are even losing lots of lower paying retail jobs. For example, it is being reported that Sears plans to close 110 more stores and lay off more than 6,000 workers. Sears says that the report "isn't accurate", but it isn't denying that stores will be closed either...
    In an email to USA Today, Sears spokesman Howard Riefs said the store count and closures "isn't accurate,'' but did not provide store closures or layoff numbers.

    "As we stated in our (second quarter earnings report), we disclosed that we would be closing unprofitable stores as leases expire and in some cases will accelerate closings when it is economically prudent. And that we would consider closing additional stores during the remainder of the year,'' Riefs said. "Make no mistake, we believe the store will continue to play an integral role in our transformation, however, if a store is not generating a profit, it is straightforward that the store should be considered for closure."
    No matter how many stores Sears does end up closing over the next few months, the truth is that our economy is a complete and total mess at this point.
    Our politicians and the mainstream media are trying to put a happy face on everything, but the cold, hard numbers prove that we are not anywhere close to where we were prior to the last recession.
    Because it is so difficult to find a good job in America today, I often recommend to people that they should consider starting their own businesses.
    But thanks to the bureaucratic control freaks in the Obama administration and in our state governments, small business ownership in America today is at an all-time low. It is almost as if they don't want the "little guy" to win. Every avenue of prosperity for the middle class is under assault, and there does not appear to be much hope that this will change any time soon.
    And the truly frightening thing is that this is about as good as things are going to get for the middle class. We are rapidly approaching the next major wave of our long-term economic decline, but that is a topic for a future article.

  • #2
    That chart corresponds perfectly to my individual scenario.
    My portfolio was at its peak in 1999 and hasn't come near that point since then.

    The only people who think America is in a recovery are the desperate dumbocrats trying to spin sh!t into Shineola.

    If you don't agree that America is in a massive recovery you're a gat dambed RACIST!

    Comment


    • #3
      It surprises me really how complacent the people have been about this. The American dream has been stolen from under their noses.

      Comment


      • #4
        The American dream is that anybody could make it.
        - true, but most never will, no matter how hard they try.


        Any thought where the money of the millionaires and billionaires comes from?
        “Don’t get sick of me just yet, for I will be here for quite a while”

        Comment


        • #5
          What is "it"?

          Comment


          • #6
            Not buying these stats....

            Better chance that a majority percentage make $20,000.....well under the so called poverty level.

            Wages, in general, have not shown any significant change for quite some time....all the while the cost of living has seen a 300-400% increase.


            The issue should not be wages/salaries, but the unnecessary cost of living.

            Remove the false ideals of credit and loans - you're in a world of hurt.

            Comment


            • #7
              Originally posted by serrollt View Post
              The American dream is that anybody could make it.
              - true, but most never will, no matter how hard they try.


              Any thought where the money of the millionaires and billionaires comes from?
              Don't go all socialist now. The wealth cap is the result of corporate socialism and croniesm

              Comment


              • #8
                Originally posted by sulak View Post
                Not buying these stats....

                Better chance that a majority percentage make $20,000.....well under the so called poverty level.

                Wages, in general, have not shown any significant change for quite some time....all the while the cost of living has seen a 300-400% increase.


                The issue should not be wages/salaries, but the unnecessary cost of living.

                Remove the false ideals of credit and loans - you're in a world of hurt.
                The article gets into that. ... If you read the whole thing.

                Under 28,000 in these dollars is pretty fcking bad man. Don't know how you expected IT to be lower

                Comment


                • #9
                  Do you propose to regulate wages for the low income nanny-state pussies, socal?

                  Or let the free market sort it out, they still earn more per hour than a Flippo in a day...
                  “Don’t get sick of me just yet, for I will be here for quite a while”

                  Comment


                  • #10
                    Originally posted by serrollt View Post
                    Do you propose to regulate wages for the low income nanny-state pussies, socal?

                    Or let the free market sort it out, they still earn more per hour than a Flippo in a day...
                    3 of the 4 richest countries in the world have no minimum wage laws. So I think the factual answer to the question is self explanatory

                    don't get me wrong, I hate this crony capitalism more then anyone. But crony capitalism is not market capitalism

                    Comment


                    • #11
                      Originally posted by socal View Post
                      3 of the 4 richest countries in the world have no minimum wage laws. So I think the factual answer to the question is self explanatory

                      don't get me wrong, I hate this crony capitalism more then anyone. But crony capitalism is not market capitalism
                      What do you define as richest? Countries that have the highest GDP? I suppose many of the Gulf states do very well, but the average working stiff lives in a hovel. Be greatfull you live in a nanny state otherwise your endeavours would be paid at the lowest common denominator i.e. migrant worker rates from the third world.

                      Comment


                      • #12
                        Half of Americans today are scumbag gang bangers and uneducated illegal immigrants.
                        Obama refers to them as Dreamers and is encouraging more of them to come -- by the millions. Is anyone surprised the bottom has fallen out?

                        "God Damn America." As you sow so shall you reap.

                        Comment


                        • #13
                          They dream the American Dream.

                          “Don’t get sick of me just yet, for I will be here for quite a while”

                          Comment


                          • #14
                            Originally posted by serrollt View Post
                            They dream the American Dream.


                            More an illusion than a dream.

                            Comment


                            • #15
                              Originally posted by Delayed View Post
                              What do you define as richest? Countries that have the highest GDP? I suppose many of the Gulf states do very well, but the average working stiff lives in a hovel. Be greatfull you live in a nanny state otherwise your endeavours would be paid at the lowest common denominator i.e. migrant worker rates from the third world.
                              Singapore no laws or regulations

                              Qatar none

                              Norway none

                              Germany no statutory minimum wage
                              Italy none
                              Top 4 richest countries in the world per capita. (World bank)
                              1 Qatar 98,948 2011
                              2 Luxembourg 80,559 2011
                              3 Singapore 59,710 2011
                              4 Norway 53,396 2011

                              17 Germany 38,077 2011
                              29 Italy 30,464 2011

                              Comment

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