End of an Era

50 48%
30 27%
15 13%
10 7%
5 5%
$25,000 and below $25,000 to $50,000 $50,000 to $75,000 $75,000 to $100,000 Above $100,000

Income Disparity
by Alex Hutchins

75% of Americans earn $50,000 per year or less and 48% earn $25,000 per year or less; and, if we were to drill down on the data, we would find:

6%       under $2,500
3.4%    $2,500 - $4,999
4.56%  $5,000 - $7,499
5.75%  $7,500 - $9,999
6.20%  $10,000 - $12,499
25.91% of American currently live off of less than $12,500 each year.

Can you imagine that the greatest country in the world and perhaps in the entire history of the world has 26% of its population or 81,323,051 AMERICANS (2012 population is 312,780,968) living on
$12,500 a year or roughly $1,000 each month?
Source:  2010 Bureau of Labor Statistics

What kind of Americans are we (or have we become) that we would tolerate this nonsense taking place in our own backyard?

From Greek mythology, we learn that Sisyphus was a king who displeased the gods and was sentenced to ceaselessly pushing a large stone up a mountain only to have it roll back down to the bottom of the mountain after getting teasingly close to the top which is what he was sentenced to accomplishing.    

To be like Sisyphus is to have a task that is endless and unavailing in accomplishment.  For the purposes of this article, the 48% of the population (mentioned above) have the unavailing task of trying to keep their heads above water financially, thinking that one day, we can finally get the stone to the top of the mountain, thereby pulling ourselves out of the hole.  Unfortunately, this very seldom happens although it is possible.  The odds are about the same as winning the lottery.

But, the real pisser here is that whether you are financially in the 48% or in the 26% or in the upper 1% of the population, everyone pays the same:
  • for a gallon of gasoline or an oil change
  • for a bag of apples or oranges
  • for a haircut or a lottery ticket
  • for a cup of coffee or a glass of beer
  • for electricity usage or natural gas

It is doubtful that many of the 48%
will ever go on a vacation or purchase a home and if they have a home be able to consistency pay the mortgage.

It is doubtful that many of the 48%
will ever be able to purchase a brand new car or even one that is only a few years old.

It is doubtful that many of the 48%
will spend much money on new clothes, new shoes, new handbags, or even winter coats.

I am presently in the 48% and cannot even
 imagine  what it would be like to be in the 26%
 but it really must be popular because again,
over 81 million Americans live there every year.

1 comment:

terry said...

I'm one of the 48% and trust me, its not easy! When the hell did that happen? We all used to be, for the most part, on an even financial playing field