7/15/2013 1:18 PM ET|
Charles Koch: $34,000 puts you in the top 1%
The billionaire businessman airs ads slamming the minimum wage and insisting that people on it are still relatively wealthy.
In its continued bid to leave its liberal counterparts as red-faced, flustered and hyperventilated as George Soros leaves his conservative detractors, the Charles Koch Foundation recently released a commercial that suggests an annual income of $34,000 puts a worker among the wealthiest 1% -- in the world.
The basic premise is that Americans don't need things like food stamps or the minimum wage to help them, because they're already so much better off than poor people in the world around them. The Economic Policy Institute can't help but disagree. Its Family Budget Calculator notes that a family of three would require an income of $45,000 a year to cover basic needs in Simpson County, Miss., the U.S. region with the lowest cost of living for a family of that size.
That need changes drastically by location and still dwarfs the $30,000 a year two parents working full time would make from the $7.25 minimum wage. In Wichita, Kan., where Think Progress notes Koch's $200,000 commercial campaign has begun, the amount of income needed to cover basic costs jumps to nearly $54,000.
Bloomberg puts Charles Koch's wealth alone at $43.4 billion. His brother and Koch Industries partner, David, is worth just as much. While that might jaundice their view of what a person on minimum wage needs to survive, Charles Koch insisted to the Wichita Eagle last week that the minimum wage is just one of the items that need to be removed:
We want to do a better job of raising up the disadvantaged and the poorest in this country, rather than saying, "Oh, we're just fine now."We're not saying that at all. What we're saying is we need to analyze all these additional policies, these subsidies, this cronyism, this avalanche of regulations, all these things that are creating a culture of dependency. And like permitting, to start a business, in many cities, to drive a taxicab, to become a hairdresser. Anything that people with limited capital can do to raise themselves up, they keep throwing obstacles in their way. And so we've got to clear those out. Or the minimum wage.Or anything that reduces the mobility of labor.
In Koch's view, these factors put the hurt on "economic freedom." His ad cites a report from the Koch-funded Fraser Institute showing that the "United States used to be a world leader in economic freedom but our ranking fell. And it's projected to decline even further."
Granted, the same report ranks Hong Kong, Singapore, New Zealand, Switzerland and Chile ahead of the U.S., despite the fact that they all have the government-run health care systems that Koch also loathes. When you're baiting your opponents into a lather, however, do those little details matter as much as the results?
The exalted leader of our new republican party speaks. All you blind sheep had better listen up.
Dishonorable that a single corporation now has more pull on the party than the American middle classes that helped build it. People like Koch take the average American republican on the street for a dupe. Obvious and clear to me that ALL the dysfunction we have witnessed these years in government originates from the manner of these shameful men and their greed.
Nothing more, nothing less.
Food for 1 person, you could probably spend like 250 a month if you went out to eat a couple times plus bought groceries.
250×12= 3k per year
17k- 3k= 14k
Electricity at my said apt would be at least 85ish a month
14k- 1k = 13k
Youre not gonna make 35k without college so you better pay those student loans. I'll use my own loans as the number. I pay $285 a month.
13k- 3400= 9, 600
Car Insurance is about 100 a month
9600- 1200= 8400
Healthcare if not offered free through your job is around 150 or more per month depending on income
8400- 1200= 7200
Cell Phone- $70-$100 (we will go with 100)
6000- 1200= $4800
I mean this math is if youre single and sit at home by yourself most of the time I mean fu*k I havent even factored in gas for your vehicle n sh*t. I pay $240 a month in just gas. Theres so much more that i didnt even factor in. Its not enough to live. Obviously you can live sh*tty on it with no amenities but the dude did say youre in the 1% make that much...maybe if you compare us to 3rd world countries that amount is in the 1%
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A basic income policy can actually ensure a decent standard of living for everyone.
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