Charles Koch Says An Income Of 34k Puts You In Wealthiest 1 Percent
Via HuffPo reports:
If you earn $34,000, that puts you in the wealthiest 1 percent of the world, according to the Charles Koch Foundation.
That’s one of many assertions made in a new ad that attempts to undermine government policies that protect low- and middle-income Americans. You can watch the ad, which is produced by Koch’s conservative non-profit group.
Of course, earning $34,000 in the U.S. won’t get you very far in most parts of the country. The Economic Policy Institute estimates that a family of three needs an income of at least $44,617 a year to cover basic living expenses in the cheapest parts of the country. In Wichita, Kansas, where the commercial is currently being aired, according to Think Progress, a family of three would need to make $53,721 to get by. That’s far more than $30,000 a year that two parents earning minimum wage would make.
Minimum wage is one policy that billionaire Charles Koch would like to see eliminated. In a recent interview with the Wichita Eagle, Charles Koch described the federal minimum wage as one of the policies that “creating a culture of dependency” and added that it “reduces the mobility of labor.”
Hey, Charles Koch, how about curving that for cost of living and see how well it comes out. Didn’t think so!