AMERICA: A Declining Nation - part III

I refer to our country as the US of America because to only use the word America is MISLEADING.  North America includes:  Canada, USA, Central America, and South America.  Interestingly enough, Central Americans and South Americans also call themselves Americans...

In Part II, I mentioned a declining Middle Class which many people, including experts, do not agree with me, so let me explain my position.

Today, the US of A has three distinct classes:

Upper - Middle - Lower

The lower class lives at the poverty level or lower and quite possible a little higher.  The current poverty level is an income of about $22,000 or less...  so, a little higher might be $25,000.

However, this income is based upon a family not upon an individual.  If both members of the family earn $20,000/year then their combined income is $40,000 and they are no longer living in poverty.  

Another issue to think about, is that earning $22,000 in New York City is a lot different than earning $22,000 in Atlanta or even Knoxville, TN.

BUT...  how far up the money ladder does the Middle Class extend?

• $50,000/family/year
• $100,000/family/year
• $250,000/family/year

In 2023, the average income in the USA was $56, 980

Comparisons - 2023

1. The average Hollywood actor makes $70,000/year
2. The average Professional athlete makes $60,000/year
3. The average NBA player makes $9,000,000/year
4. The average NFL player makes $2,500,000/year
5. There are 22 million (8.8% of the population) millionaires in the USA - 30% of the millionaires are women
6. There are 756 billionaires in the USA

Proposed New USA Classes

UPPER

Greater than $500,000/year, plus Billionaires

MIDDLE

$100,000 to $500,000/year

LOWER

Less than $100,000/year

With the average income at $56,000 most of us fall into the lower class...

NOW... let's add in a wrinkle...

By the year 2025, 80% of the global jobs will be replaced by AI/robots.  The odds are that it will be between 50% and 80% in the US of A.  Some of those displaced workers will be smart enough to work in the AI field, but that vast majority of workers will not be.

The only income these workers will have will be what the government decides to give them.

Since our national debt is already extremely high and wealthy people hide their money from taxes, just where do you think that money will come from?

Will the government print more money?

If they do, it will dilute the value of the dollar, increasing inflation.

Like I said at the beginning, the US of A is trying to eliminate the current middle class and replace it with a smaller but more wealthy group of people.  It is painfully obvious that you will never be in this smaller group of people.

But with AI/robots doing the job, neither businesses nor the government NEEDS PEOPLE.