“One-third of all workers earn less than $12 an hour and 42% earn less than $15. That’s $24,960 and $31,200 a year. Imagine raising a family on such incomes, figuring in the cost of food, rent, childcare, car payments (since a car is often a necessity simply to get to a job in a country with inadequate public transportation), and medical costs.”
About 12% of Americans (43 million) are considered poor, and yet they are employed. They earn an individual income below $12,140 per year. If you add housing and medical expenses to the calculation, it raises the percentage of Americans living in poverty to 14%: 45 million people.
Remember car accidents and cancer patients are good for the GDP. This metric of productivity is almost meaningless. How’s wage growth doing?
The U.S. economy grew at the strongest pace in nearly four years during the second quarter, powered by a rebound in consumer spending, exports and firm business investment.
Damn Skippy, the economy is rigged.
“There has almost never been a period of substantial economic growth in the United States without significant investment,” she said. “And no investment pays off within the same cycle. No investment pays off within the same year – especially a governmental investment. Even businesses don’t work that way.”
OPINION: Alexandria Ocasio-Cortez favors a government jobs guarantee and says Americans should not underestimate the power of policymakers to channel deficit spending toward social goals like healthcare and education.