Elites Have No Clue How Much Most People Make

Here's a question for every reader of this post who lives in a major metro area and has at least a college degree: How many people do you know who make under $40,000 a year?

Exclude that artist friend who's husband is in finance. And eliminate younger people still paying their dues. I'm talking about people who really earn under $40,000 year. 

I'm betting you don't know that many people at this income level. In fact, if you live in New York, LA, Boston, Washington, or the Bay Area, you probably don't know many people over, say 40, who are earning under $75,000 a year—for the simple reason that this payscale is a minimum for what's needed to survive in those areas. 

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