In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
• Abolish the payroll or withholding taxes, which take a percentage of a person’s salary. These hit the working poor heavily, and they do not raise enough money to cover the costs of programs like Social Security and Medicare.
Read MoreThe bottom line is that investors that do not understand the reality of the times that they live in are doomed to lose money. Understanding the big picture is vital if you want to make money in today’s America.
Read MoreBasically, any company that offers high-quality merchandise or a high level of convenience at a good price is poised to profit in this economy. People want to save as much money as possible, but they don’t want to think of themselves as “poor”; income inequality, which makes people conscious of poverty, drives this trend.
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Traditional solutions to income inequality, such as minimum wage increases, unionization, tariffs, and confiscatory taxes, will become increasingly ineffective.
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You see the problem here. Technology is most likely to take the jobs of those members of the working and lower middle classes that make the most. It also takes the jobs that provide them with some upward mobility. This
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“Basic income critiques: the haunting fear that the poor and people of color are thinking for themselves.”
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In the final analysis, America’s middle class has little money, and it is shrinking. The middle class is shrinking and making less money because America’s social contract is broken.
Moreover, the Baby Bonds could make very little money if they work like other government investment instruments. To clarify, the interest rate on a popular government-issued investment; the 20-year Long-Term Treasury note ,was 1.83% on 21 August 2019, Treasury.gov calculates.
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The average individual monthly Social Security payment in 2019 is $1,461, the Social Security Administration estimates.
Consequently, the average annual individual income from Social Security is $17,532.
For instance, Median Household Income for a black American home was $36,651 in 2018, Black Demographics calculates. In contrast, the Median Household income for all American families was $55,332 in 2018.
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