Wondering why you can’t afford Christmas gifts even though you make a pretty good income? Check out the following and h.t. to zelda and please please do follow the durden link.
Why, indeed? Over at Zero Hedge, Tyler Durden has an interesting answer:
Emmerich analyzes disposable income and economic benefits among several key income classes and comes to the stunning (and verifiable) conclusion that “a one-parent family of three making $14,500 a year (minimum wage) has more disposable income than a family making $60,000 a year.” And that excludes benefits from Supplemental Security Income disability checks. America is now a country which punishes those middle-class people who not only try to work hard, but avoid scamming the system.
Maybe President Obama and Mr. Krugman should direct some of their attention to this problem rather than spending so much of their time complaining that the rich don’t get soaked enough.
And while we’re on the topic Rep. Bernie Saunders can shut his big fat mouth going on and on about how the ‘rich’ aren’t paying their fair share. This is so bogus. People who work for a living earn that money – it doesn’t belong to the government or anyone else who just happens to want it. Those who think they have a right to decide who does and does not need the money they earn are the same people who are robbing the Social Security and Medicare funds blind and are desperate for more money to put into that black hole, so they can rob that too. Seriously folks, if this doesn’t open your eyes you just don’t want to know the truth.
oh…and Merry Christmas.