Folks, I am having a very hard time finding a reason to keep blogging. This asylum I’ve been watching just keeps getting worse. The following is an excerpt from a recent post by Charles Hugh Smith of the blog Of Two Minds.
Of the roughly 142 million workers in the U.S., 38 million earn less than $10,000 per year, 50 million earn less that $15,000 a year and 61 million earn less than $20,000 annually. All these numbers are drawn directly from Social Security Administration payroll data.
100 million wage earners, or 2/3 the entire workforce, earn less than $40,000 per year.
Most of the heavy-lifting in terms of paying income taxes falls to about 30 million people, the top 20% of wage earners.
That my friends is a living picture of a rotten egg. Does anyone really believe it can be fixed at the ballot box? The only solution to a rotten egg is to replace it with a fresh egg.
And, that’s what I’m thinking. What are your thoughts?