The numbers from the Census Bureau are alarming. One in six Americans living below the poverty line of $22,000 a year for a household of four. Many of those people are working poor … for low wages and no benefits. Their income declined 4% in one year!
Equally as disturbing to me … middle Americans are being hammered. Median household income fell 2.3% last year and his down 7% since 2000, adjusted for inflation.
Why should we care? Beyond any moral grounds, think about the eroding spending power of middle and low-income Americans. These people should be buying things, which creates jobs. But more and more of our paychecks go for health insurance … if we’re lucky … and gasoline and food. It’s not the taxes, it’s the take-home.
United States senators and representatives are just about the only Americans left with automatic annual pay raises, great benefits, and pensions. It’s time to roll back Congressional pay to 1999 levels. Cut their pay by 5% every year they don’t balance the budget. Give them a bonus if they generate surpluses.
Our thought for today is from George Bernard Shaw:
“A government which robs Peter to pay Paul can always depend on the support of Paul.”