End Of Middle Class: 51% Of US Workers Earn Under $30,000 Annually
By By Michael Snyder for End of the American Dream - According to brand new numbers that were just released by the Social Security Administration, 51 percent of all workers in the United States make less than $30,000 a year. Let that number sink in for a moment. You can’t support a middle class family in America today on just $2,500 a month – especially after taxes are taken out. And yet more than half of all workers in this country make less than that each month. In order to have a thriving middle class, you have got to have an economy that produces lots of middle class jobs, and that simply is not happening in America today. The federal poverty level for a family of five is $28,410, and yet almost 40 percent of all American workers do not even bring in $20,000 a year. Yet, 38 percent of all American workers made less than $20,000 last year and 51 percent of all American workers made less than $30,000 last year.