A More Prosperous Time – 60 years ago!
By Michael Snyder
[Now, flash-forward to 2015 >>] We just got more evidence that the middle class in America is dying. According to brand new numbers that were just released by the Social Security Administration, 51 percent of all workers in the United States make less than $30,000 a year. Let that number sink in for a moment.
You can’t support a middle-class family in America today on just $2,500 a month – especially after taxes are taken out. And yet, more than half of all workers in this country make less than that each month. In order to have a thriving middle-class, you have got to have an economy that produces lots of middle-class jobs, and that simply is not happening in America today.
You can find the report that the Social Security Administration just released right here. The following are some of the numbers that really stood out for me…
–38% of all American workers made less than $20,000 last year.
–51% of all American workers made less than $30,000 last year.
–62% of all American workers made less than $40,000 last year.
–71% of all American workers made less than $50,000 last year.
That first number is truly staggering. The federal poverty level for a family of five is $28,410 and yet, almost 40 percent of all American workers do not even bring in $20,000 a year. …con’t HERE.