Rich People Don’t Even Work For Most Of Their Money
Greedy billionaires have trained Americans to wrongly think most public assistance goes to lazy welfare queens and idle, able-bodied people who just don’t want to work.
Actually, the vast majority of people use welfare only temporarily and work when they can. The average number of children in families on welfare is 1.8, the same as in other families. Children on welfare are no more likely to go on welfare when they grow up than are other children.
Despite what some people think, it’s not easy to get disability here, disability fraud is not rampant, and disability claims are not skyrocketing.
However, rich people don’t even work for most of their money. Americans making $10 million a year or more get the vast majority of their income (85%) from simply owning assets. They only work for 15% of their income (salaries and wages).
The richer you are, the less percentage of your income you pay to Social Security. Millionaires and billionaires pay no social security tax at all on any earnings beyond $127,200, which means we actually fail to collect social security tax on more than 86% of all wages.
Because of this foolish rule, nearly 10,000 wealthy people pay Social Security taxes on just their first week or two of work, then none for the rest of the year, every year!
Nearly 1,000 of these people only pay Social Security taxes for only a day or two of their work each year! This is ridiculous, when the working poor struggle to pay the Social Security tax on everything they earn.
Our laws provide subsidies and tax breaks that help the wealthy get far richer. At the same time, our laws crush and destroy the middle class and poor.
Both Democratic & Republican politicians supported by Wall Street made bankruptcy much easier for billionaires and much harder for average Americans.
Now billionaires can walk away from their debts while holding onto most of their assets, even while shafting their investors and workers. Now average Americans can’t declare bankruptcy on their mortgages or even renegotiate them during bankruptcy.
And now students burdened with so much debt they can’t buy cars, homes, or start families can’t get rid of the debt or even renegotiate it in bankruptcy. In fact, now lenders can deduct payments for old student loans from Social Security checks in old age, many decades later.
Read our excerpts on “Rigged For The Rich” and “Rigged Against Average Americans” to see how our puppets for billionaires in Congress have changed our laws to constantly shower more wealth on the rich and hurt the middle class and poor.
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