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Charles Hugh Smith: America's Four Socioeconomic Classes

Charles Hugh Smith: America's Four Socioeconomic Classes | Gold and What Moves it. | Scoop.it
From charleshughsmith.blogspot.com - January 30, 2:28 PM

A titanic political battle is brewing between the parasitic aristocracy, the dependent class and the two classes creating value with their labor.


In the conventional view, America's socioeconomic classes are divided by income and wealth into various layers of Wealthy, Middle Class and Poor.
If we extend the analysis presented in Why Employment in the U.S. Isn't Coming Back (January 29, 2013) and Why Employment Is Dead in the Water (January 28, 2013), we get an entirely different framework that breaks naturally into four classes:
1. Parasitic financial Aristocracy (creates no value, skims national surplus)2. High value creation (employed, heavily taxed)3. Low value creation (employed/informal economy, lightly taxed)4. No value creation (unemployed, dependent)
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Charles Hugh Smith: Why Employment Is Dead in the Water

Charles Hugh Smith: Why Employment Is Dead in the Water | Gold and What Moves it. | Scoop.it
From charleshughsmith.blogspot.com - January 29, 11:23 AM

Employment is dead in the water because opportunities for organic expansion are few and the cost basis of doing business in the U.S. keeps rising.


Let's start by reviewing the basics of employment in the U.S. Courtesy of the St. Louis Federal Reserve, here is the non-institutional civilian population of the U.S. (Note that the Civilian Non-institutional Population With No Disability, 16 years and over (LNU00074593)--roughly speaking, the workforce of the nation-- is 215 million).
Here is the percentage of the population with some kind of job: note this could be self-employment that earns $1,000 a year or a job with 4 hours a week; recall that 38 million American workers earn less than $10,000 per year, 50 million earn less that $15,000 a year and 61 million earn less than $20,000 annually. All these numbers are drawn directly from Social Security Administration payroll data. ...
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