Friday, January 10, 2014

My Experience with Income Inequality

I donate $500 to $600 monthly. Not bragging here, just putting the facts up front. By the way, my annual income places me in the lower middle class. I'm barely over $50,000 a year.

I like being able to chose where some of my donations go, so when I hear that 92 million Americans are outside of the labor force I begin to worry quite a bit. I don't have any tax shelters. Most of my income goes to pay for my housing, food, medical, and charitable donations.

Even though I've had minor cost of living increases over the past five years, more money is withheld each month than I received five years ago. I repeat - I actually receive less money today than I did five years ago.

When the federal government starts talking about increasing minimum wages to $15/hr. and extending unemployment indefinitely I begin to worry a bit. I'm hoping they're talking about getting this money from wealthy liberals, but I doubt it.