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US Social Security Admin: More Than Half Of Wage Earners Make $30,000 or Less!
US Social Security Admin: More Than Half Of Wage Earners Make $30,000 or Less! – InvestmentWatch
More Than Half of U.S. Wage Earners Make Under $30,000 a Year, According to a Shocking New Report
https://www.truthdig.com/articles/m...00-a-year-according-to-a-shocking-new-report/
Almost Half of All American Workers Make Less Than $15 an Hour
https://www.thenation.com/article/almost-half-of-all-american-workers-make-less-than-15-an-hour/
Figures released Wednesday by the Social Security Administration (SSA) show that the majority of workers in the United States earn an income that puts them at or near the poverty level for a small family.
Over half of US workers make less than $30,000 per year, and a staggering 40 percent of workers make less than $20,000 per year. The federal poverty line for a family of four is $24,250 and the line for a family of three is $20,090.
https://www.wsws.org/en/articles/2015/10/29/pove-o29.html
51% of Working Americans Make Less than $30K a Year
https://www.teaparty.org/51-of-working-americans-make-less-than-30k-a-year-126589/
I call BS, especially on the SS administration which is looking to justify a massive SS Tax increase. Their numbers are in conflict with every other Federal agency, and not just the IRS. Remember, these are the same people who had to grossly adjust their claims as to when the trust would run out of money. They had to add 25-30 years to their estimates. Here's a little something for you to add into your thinking: How many American Workers are under age 18, how many are over age 60 and also receiving pensions? How many American workers are duplicately counted when actually earning a lower wage second income? How many are housewives with older children augmenting family incomes? The SS administration counts each wage earner as a sole wage earner.
The actuary tables of other agencies, including the Treasury Dept, the Census Bureau, among others, delineate by household incomes, age disparities, and so forth. The IRS has a superb chart explaining how household income joint returns skew income estimates. And remember they are expressing numbers by net taxable income, meaning the numbers are lower after deductions are adjusted. The IRS shows net household incomes with a mean higher than $44k annually. That's not gross earnings the SS Trust claims to represent.
I live in NYC, the average net income for a family of 4 is $76,284 per the State Tax Commission. Lost Angelos enjoys a higher net income by about $300. Chalmers, Indiana, the poorest city in the nation, with a population of 497 enjoyed a mean net income of $19,258. The average age of the Chalmers population last year (2016) was 14. I'll give you a correct data on Chalmers.
Wherever we look we'll find different returns. Atherton, Calif, the wealthiest town in the US, showed a mean income of $444,374 for its population of 7,200. Muttontown Long Island, (not a town but a village) showed a mean income of approximately $37 million annually for its population of 3,675. More than half its population was under age 16. Part of the Town of Oyster Bay, population about 300,000, mean income $94,000.
Poverty guidelines this year show a level of 24,600 for a family of 4. Approximately 6.1% of the American population meets the poverty level at first glance. That's about 19 million people with 14 million or so being children. However, with the understanding that the average cost of living for a family of 4 is about $64k annually, after multiple federal contributions like snap, healthcare costs via medicaid, and so on, less than 10K meet the poverty guideline, and most of those are in nursing homes supported by a multiple of Federal and State programs.
If your claim were true with the reality that the cost of living for a family of 4 is about $64k, we'd be picking up bodies off the streets and expanding our potters fields.
Yes, I'm calling your numbers hogwash.