In an assinine commerical from the Charles Koch Foundation, the man worth $34 billion kindly reminds you to be thankful for your wealth. You see, if you make more than $34 thousand annually, the commerical tell us, you are in the richest 1% of the global population. However, as the Huffington Post points out, $34k a year in the U.S. isn’t quite the same as $34k in say, Uganda.
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.
Given this new revelation that so many Americans are stinking filthy rich, Charles Koch has an idea to make the country even better.
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.”