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Keyword: income

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  • Finland is giving 2,000 citizens a guaranteed income

    01/03/2017 8:19:22 AM PST · by Signalman · 40 replies
    cnnmoney ^ | 1/3/2017 | Ivana Kottasova
    Finland has started a radical experiment: It's giving 2,000 citizens a guaranteed income, with funds that keep flowing whether participants work or not. The program, which kicks off this month, is one of the first efforts to test a "universal basic income." Participants will receive €560 ($587) a month -- money that is guaranteed regardless of income, wealth or employment status. The idea is that a universal income offers workers greater security, especially as technological advances reduce the need for human labor. It will also allow unemployed people to pick up odd jobs without losing their benefits. The initial program...
  • Here's Why You Deserve a State Income Tax Cut

    10/20/2016 5:12:15 AM PDT · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 10/14/2016 | James Hohman
    Recent Michigan legislatures have taken more from regular people with new tax hikes while giving more to politically well-connected interests through municipal bailouts and corporate giveaways. It’s the people’s turn for something positive, and this is the right time and environment for a substantial state income tax cut. Legislators are sympathetic, and want you to know it: In every recent legislative session, bills have been introduced to lower the income tax rate. But they never move. The excuse is always the same: “Budget pressures are growing; we might have to cut spending if citizens get to keep more.” The excuse...
  • Income Was Too Good To Be True

    09/28/2016 6:45:46 PM PDT · by proxy_user · 7 replies
    Seeking Alpha ^ | September 28, 2016 | Rodney Johnson
    The Census Bureau reported that median income jumped 5.2% last year. As I pointed out last week, that's a solid increase, but still leaves us short of the record in 1999. Still, something about the gains struck me as wrong. Even with cities, states and some businesses bumping up their minimum wage, 5.2% seemed like a lot. So I went digging. And the more I dug, the more disappointed and frustrated I became. As usual, the source of my angst was the federal government. Long-time readers know my ongoing annoyance with the Bureau of Labor Statistics (BLS) when it comes...
  • White House claims ´historic´ lowering of income inequality

    09/23/2016 1:37:55 PM PDT · by Nachum · 34 replies
    Washington Examiner ^ | 9/23/2016 | Joseph Lawler
    President Obama´s economic advisers boasted Friday that he has presided over a "historic" lowering of income inequality, and presented a paper saying that Obamacare and higher taxes on the rich have reduced inequality. "Over the last eight years, President Obama has overseen the largest increase in federal investment to reduce inequality since the Great Society," the White House Council of Economic Advisers concluded in the paper. Jason Furman, the head of the council, also published an op-ed in the Washington Post making the same case. Taking into account all of Obama´s tax hikes for high earners, tax cuts for poor...
  • No thank you, Obama The new Census report on income and poverty proves why no thanks are due

    09/19/2016 2:36:17 AM PDT · by expat_panama · 15 replies
    The Washington Times ^ | Sunday, September 18, 2016 | Stephen Moore
    While touting the new Census report on income and poverty in America, Barack Obama took credit for $2 a gallon gasoline, and immodestly shouted to his crowd of supporters: “Thank you, Obama.” I don’t want to sound ungrateful, but given that for eight years your administration has done everything to decapitate the oil and gas industry that gave us low gas prices, sorry, no thanks are in order Mr. President. Even more amazing was Mr. Obama’s victory lap on the income numbers. Yes, incomes for middle class families rose by an impressive 5 percent in 2015. And poverty fell. Thank...
  • Household income in 2015 grew at fastest rate on record

    09/13/2016 10:59:34 AM PDT · by mikelets456 · 35 replies
    WSJ ^ | 9/13/2016 | Today
    Americans got a raise in 2015 -- their first significant pay hike in eight years -- as the U.S. median household income rose 5.2% to $56,516, according to new data from the U.S. Census Bureau. But income of the typical U.S. home still remained below that of 2007, the year before the most recent recession, when median household income was $57,423. That was the last year that U.S. homes saw a significant annual increase, the bureau said. In 2014, the median income was $53,718, the bureau said in its report Income and Poverty in the United States: 2015, released Tuesday....
  • Sowell: Misleading Statistics

    09/05/2016 2:28:56 PM PDT · by jazusamo · 13 replies
    Creators Syndicate ^ | September 6, 2016 | Thomas Sowell
    Mark Twain famously said that there were three kinds of lies — "lies, damned lies, and statistics." Since this is an election year, we can expect to hear plenty of all three kinds. Even if the statistics themselves are absolutely accurate, the words that describe what they are measuring can be grossly misleading. Household income statistics are an obvious example. When we hear about how much more income the top 20 percent of households make, compared to the bottom 20 percent of households, one key fact is usually left out. There are millions more people in the top 20 percent...
  • Compensating Differences

    08/03/2016 5:02:11 AM PDT · by Kaslin · 17 replies
    Townhall.com ^ | August 3, 2016 | Walter E. Williams
    What economists call an ability to make "compensating differences" is a valuable tool in everyone's arsenal. If people are prohibited from doing so, they are always worse off. You say, "Williams, I never heard of compensating differences. What are they?" Jimmy Soul's 1963 hit song, "If You Wanna Be Happy," explained the concept of compensating differences. His lyrics went: "If you want to be happy for the rest of your life, never make a pretty woman your wife. So from my personal point of view, get an ugly girl to marry you." His point was that an ugly woman would...
  • President’s Economic Adviser Says Income Comparison Misleading [semi-satire]

    06/19/2016 8:25:33 PM PDT · by John Semmens · 3 replies
    Semi-News/Semi-Satire ^ | 19 June 2016 | John Semmens
    Data showing that the average man with a full time job makes less today than he did in 1973 was discounted as “an unfair and misleading statistic” by the Chairman of the President’s Council of Economic Advisers Jason Furman this week. “First of all, the premise that a full time job is desirable is debatable,” Furman maintained. “In 1973 many were forced to work because of the inadequacy of the social safety net. Today, many in a similar situation have been liberated from this tiresome fate by a more generous package of government benefits that enables them to work part...
  • Average Family Today Has Less Income Than When Obama Took Office(?)

    06/11/2016 9:42:26 AM PDT · by rktman · 28 replies
    cnsnews.com ^ | 6/10/2016 | Daniel Mitchell
    What’s the most important economic statistic to gauge a society’s prosperity? I often use per-capita economic output when comparing nations. But for ordinary people, what probably matters most is household income. And if you look at the median household income numbers for the United States, Obamanomics is a failure. According to the Census Bureau’s latest numbers, the average family today has less income (after adjusting for inflation) than when Obama took office. In an amazing feat of chutzpah, however, the President is actually arguing that he’s done a good job with the economy. His main talking point is that the...
  • Income Inequality

    06/10/2016 7:03:13 AM PDT · by george76 · 24 replies
    Elle's Economy ^ | June 2016
    The phrase Income Inequality has become a standard battle cry for politicians these days, with the implicit assumption that inequality is a bad thing, but is the basic concept of inequality truly a bad thing? ... We hear a lot of lip service from various politicians about the ills of income inequality, so letÂ’s look at actual recent track records. The U.S. Census Bureau uses four measures of income inequality, Gini, Theil, Mean Logarithmic Deviation of Income (MLD) and Atkinson Measure. â—ľSince the financial crisis, income inequality (as measured by the US Census Bureau using 3 different types of metrics)...
  • Middle class takes financial hit in most US cities this century

    05/11/2016 7:56:29 PM PDT · by RayofHope · 16 replies
    Financial Times ^ | 05/11/2106 | Sam Fleming and Shawn Donnan
    More than four-fifths of America’s metropolitan areas have seen household incomes decline this century, according to new research that exposes the politically charged reality of middle-class decline at the heart of this year’s presidential election. The research on urban centres that are home to three-quarters of the US population shows that median household incomes, adjusted for the cost of living in the area, grew in just 39 out of 229 metro areas between 1999 and 2014.
  • What I Want for All Moms on Mother’s Day: A Universal Basic Income

    05/11/2016 12:32:23 PM PDT · by GilGil · 82 replies
    Medium.com ^ | 5/11/2016 | Anna Oman
    Imagine if everyone was guaranteed healthcare and an income floor. People would still pursue their calling in life. In fact, they could do so more freely with more creativity and daring without the fear of not making ends meet. It would unleash the enormous creative potential that lays dormant within the hearts and minds of so many office workers, toiling away as their best ideas and dreams wither away.
  • 'Guaranteed Income' Is a Comically Awful Poverty Solution

    05/10/2016 4:16:53 AM PDT · by expat_panama · 28 replies
    Real Clear Markets ^ | May 10, 2016 | John Tamny
    New York Magazine's Annie Lowrey excitedly writes "that there's a welfare-policy idea that is very in vogue. That idea is just giving everybody enough money to live on, rich or poor, old or young, working or not working. It is called a universal basic income." She adds that the idea has captured the imagination of Silicon Valley technologists, European socialists, U.S. policymakers on the left and right, and seemingly everyone in between. And while Lowrey is hedging herself as to whether a universal basic income or guaranteed income will succeed, it doesn't take much casual analysis to see that what...
  • Obama's income fell to $436,000, lowest of his presidency

    04/15/2016 10:38:49 PM PDT · by Olog-hai · 33 replies
    Associated Press ^ | Apr 15, 2016 5:59 PM EDT | Josh Lederman
    President Barack Obama’s income fell to just over $436,000 in 2015, the lowest of his presidency, and he and first lady Michelle Obama paid nearly $81,500 in taxes, according to tax returns the White House released on Friday. The president’s more modest adjusted gross income reflected book sales that have continued to fall off in the years since he last published in 2006. The first family paid an effective tax rate of 18.7 percent. The Obamas also reported donating $64,000 to charity, or about 15 percent of their income. Their largest charitable donation, $9,000, went to the Fisher House Foundation,...
  • Bernie Earned Less in Year than Hillary Made in Single Speech

    04/15/2016 3:49:23 PM PDT · by Zakeet · 35 replies
    Weekly Standard ^ | April 15, 2016 | Daniel Halper
    Bernie Sanders reportedly earned just over $200,000 in 2014. That same year, Hillary Clinton, Sanders's top Democratic rival, gave about 45 paid speeches, many of which paid her more in a single hour than Sanders made the entire year.
  • Obama Talks Income Inequality At $33k-per-Ticket Fundraiser

    02/12/2016 1:33:44 PM PST · by Iron Munro · 29 replies
    Townhall ^ | Feb 12, 2016 | Matt Vespa
    Last night, President Obama held a fundraiser in the San Francisco Bay area, where he told presumably wealthy donors to be concerned about inequality and the wave of populism that's sweeping the nation. Oh, and did I forget to mention that one ticket to this event cost $33,400 (via the Hill): Obama has previously expressed surprise by the enthusiasm generated by Trump and Sanders. But he urged donors attending the $33,400-per-ticket fundraiser to understand that populist candidates in both parties are tapping into something real. "Despite all the progress we've made ... what is true is that people are anxious,”...
  • Gas Drops Below $1.50 in Some Areas, and We Haven't Hit Bottom Yet

    02/02/2016 7:28:32 AM PST · by thackney · 49 replies
    NBC News ^ | FEB 2 2016 | MARTHA C. WHITE
    American drivers are now enjoying gasoline prices that haven't been this low since January 2009. Data from the AAA shows that the average annual price for a gallon of gas has been below $2 a gallon for about a month now. Just within the past week, the national average gas price ticked below $1.80 for a gallon of regular gas, a drop of 20 cents just since the beginning of 2016. "I think you have probably another three to four weeks of prices in this area - I think we could drop another nickel or so," said Denton Cinquegrana, chief...
  • Older Drivers Hit the Road for Uber and Lyft: How retirees are augmenting retirement income

    01/25/2016 9:24:19 AM PST · by SeekAndFind · 41 replies
    New York Times ^ | 01/24/2016 | By ELIZABETH OLSON
    When Carol Sue Johnson, 73, wheels her silver Mazda S.U.V. out of her driveway in suburban Minneapolis, she doesn't know how much money she will make driving for the ride-hailing service Uber, but she's sure she will have an adventure. Her passengers run the gamut, she said, from three visiting Chinese business executives who were surprised to see a female driver, to teenagers needing a ride to hockey practices or games. When one group of teenagers "started to get too rowdy," said Ms. Johnson, who goes by Sue, "one of them told the others to stop because 'Grandma's in the...
  • How Is the Economy Doing? It May Depend on Your Party, and $1

    01/02/2016 1:27:25 PM PST · by Theoria · 53 replies
    The New York Times ^ | 01 Jan 2016 | Neil Irwin
    Suppose it is dinnertime, and the phone rings. It is a polite survey taker with a simple question for you: How is the economy doing? You might answer the question based upon the news stories you've seen recently about the latest unemployment rate, or perhaps based on anecdotal observations, such as whether your long-jobless cousin has had any luck finding work. But a wide range of academic work suggests a different factor that is likely to shape your answer: whether the current occupant of the White House is of your preferred political party. Did unemployment get better or worse during...