More Than Half of U.S. Wage Earners Make Under $30,000 a Year, According to
a Shocking New Report
http://www.truthdig.com/eartotheground/item/more_than_half_of_all_americans_
make_under_30000_dollars_a_year_20151027/
Posted on Oct 27, 2015
We can probably all agree now that the wealth gap in the U.S. has pretty
much turned into a gaping abyss. (Shutterstock)
Wage statistics for 2014, recently released by the Social Security
Administration, provide proof to the claim we all feared was true: The
middle class is actually disappearing. As the online publication
Washington's Blog notes, 51 percent of U.S. workers in 2014 made less than
$2,500 a month before taxes-which is below the poverty line for a family of
five. What's worse is that as the numbers in the original report are parsed,
other stunning facts become clear. For instance, the fact that nearly 40
percent of Americans aren't even making $30,000 but rather are earning
closer to $20,000. Or that 70 percent of workers made less than $50,000 in
2014.
All of this just illustrates in vivid detail how far the wealth gap in the
U.S. has widened. We've gotten to the point where the majority of U.S.
citizens are barely making enough to make ends meet, and let's face it, most
aren't even scraping by.
Michael Snyder explains in his post for Washington's Blog how these numbers
don't even paint the full picture of income inequality in this country:
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.
If you worked a full-time job at $10 an hour all year long with two weeks
off, you would make approximately $20,000. This should tell you something
about the quality of the jobs that our economy is producing at this point.
And of course [the numbers in the SSA report] are only for those that are
actually working. As I discussed just recently, there are 7.9 million
working age Americans that are "officially unemployed" right now and another
94.7 million working age Americans that are considered to be "not in the
labor force". When you add those two numbers together, you get a grand
total of 102.6 million working age Americans that do not have a job right
now.
The SSA report is reprinted in full, below.
-Posted by Natasha Hakimi Zapata
Wage Statistics for 2014
http://www.truthdig.com/ http://www.truthdig.com/
More Than Half of U.S. Wage Earners Make Under $30,000 a Year, According to
a Shocking New Report
http://www.truthdig.com/eartotheground/item/more_than_half_of_all_americans_
make_under_30000_dollars_a_year_20151027/
Posted on Oct 27, 2015
We can probably all agree now that the wealth gap in the U.S. has pretty
much turned into a gaping abyss. (Shutterstock)
Wage statistics for 2014, recently released by the Social Security
Administration, provide proof to the claim we all feared was true: The
middle class is actually disappearing. As the online publication
Washington's Blog notes, 51 percent of U.S. workers in 2014 made less than
$2,500 a month before taxes-which is below the poverty line for a family of
five. What's worse is that as the numbers in the original report are parsed,
other stunning facts become clear. For instance, the fact that nearly 40
percent of Americans aren't even making $30,000 but rather are earning
closer to $20,000. Or that 70 percent of workers made less than $50,000 in
2014.
All of this just illustrates in vivid detail how far the wealth gap in the
U.S. has widened. We've gotten to the point where the majority of U.S.
citizens are barely making enough to make ends meet, and let's face it, most
aren't even scraping by.
Michael Snyder explains in his post for Washington's Blog how these numbers
don't even paint the full picture of income inequality in this country:
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.
If you worked a full-time job at $10 an hour all year long with two weeks
off, you would make approximately $20,000. This should tell you something
about the quality of the jobs that our economy is producing at this point.
And of course [the numbers in the SSA report] are only for those that are
actually working. As I discussed just recently, there are 7.9 million
working age Americans that are "officially unemployed" right now and another
94.7 million working age Americans that are considered to be "not in the
labor force". When you add those two numbers together, you get a grand total
of 102.6 million working age Americans that do not have a job right now.
The SSA report is reprinted in full, below.
-Posted by Natasha Hakimi Zapata
Wage Statistics for 2014
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