Which America Do You Live In? – 21 Hard To Believe Facts About “Wealthy America” And “Poor America”

Thursday, November 7, 2013
By Paul Martin

By Michael Snyder
November 6th, 2013

Did you know that 40 percent of all American workers make less than $20,000 a year before taxes? And 65 percent of all American workers make less than $40,000 a year before taxes. If you work on Wall Street, or have a cushy job with the federal government, or work for a big tech firm out on the west coast, life is probably pretty good for you right now. But the truth is that most Americans are not living the high life. In fact, most Americans are just trying to figure out how to survive from month to month. For many Americans, making a choice between buying food for your family and paying the light bill is a common occurrence. But if you don’t live in that America, hearing that people actually live like that may sound very strange to you. After all, if everyone around you has expensive cars, the latest electronic gadgets and million dollar homes, the notion that America is in the midst of a very serious “economic decline” may seem very bizarre to you.

On Wednesday, the Dow hit a brand new record high, and Wall Street celebrated. Since the financial crisis of 2008, stocks have been on an unprecedented run. The top performers in the market have not just made millions of dollars – they have made billions of dollars. Luxury apartments in Manhattan and beachfront homes in the Hamptons are selling for absolutely astronomical prices, and it seems like life in the good parts of New York City is one gigantic endless party these days.

Meanwhile, life is quite good down in Washington D.C. as well. The wealth is spread more evenly, but on average the D.C. region actually has the highest standard of living of any major U.S. city. The reason for this is the obscene growth of the federal government. Over the past couple of decades, the U.S. government has ballooned in size and so have government salaries. During one recent year, the average federal employee living in the Washington D.C. area received total compensation worth more than $126,000.

Out in the San Francisco area, Internet money is flowing like wine right now. As I wrote about yesterday, top employees of companies such as Facebook and Twitter can make millions of dollars a year. And if you were lucky to get a piece of the ownership of one of those companies at a very early stage, you are essentially set for life.

And with the Twitter IPO coming up, Internet euphoria is once again reaching a fever pitch. For example, just check out what a 56-year-old administrative assistant said this week about why she is going to buy Twitter stock…

The Rest…HERE

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