<The rich are taking all their money in salaries, profit sharing and stock dividends. Nothing left for the little guy. <
My numbers were based on the following in my statement..
****Average income in an American Family is $51,017. with an average Federal tax rate of 20% (25% including State Taxes). Means the average American owe's ~40% a years after tax income to repay debt for stuff they already bought, and probably already sold at a yard sale. Combine that with the roughly $3,000 in annual interest charges on the $15,017, and that brings the debt close to half a years salary after taxes. ***
Average Family Income of $51,017 equates to $24.50 an hour.
If it's a two member working family.. That $12 an hour. 40 hours/ 52 weeks
or $24 an hour if a single earner.
The rich aren't "taking all their money", the American Consumer is happily writing them a check every month and mailing the 1% much of their income in high yield interest payments, which the Federal Reserve and the US Govt. is happily lending the money to the banks at <point1%< , Yes.. that is .1%.
The continuation of "interest rate intervention" policies that began under the Bush administration during the financial crisis that were introduced to provide stability to the Bankseters so that they would begin to lend money to jump start the economy, was seen as a "shot of adrenalin", and a short term solution. Since that time, the Banksters have turned a shot of adrenalin into a long term drug habit, with the current Administration and Fed policy more than happy to keep the Banks "hooked" on these "interest rate intervention" policies, the Banks are happy addicts.
The retired "Moms and Pops" that saved a nest egg for retirement and were accustomed to finding a Bank CD that paid a 4.5% return to help them survive have seen that return slashed to nearly nothing. Inflation rate consumes the real value of their nest egg, as they are unable to achieve a return in the CD market that breaks even with inflation.
The Banksters make Billions thanks to the continuation of the Bush era "adrenalin shot" policies at the expense of the 95%'ers.
That's right 95%ers.. Keep racking up more and more debt and the Banksters will own your soul... Forever..
And so it goes,
PCSTEL |
