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Keyword: income

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  • 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 ^ | 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 ^ | 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 ^ | 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...
  • Honey, I Shrunk the Middle Class: Perhaps Just 1/3 of Households Qualify

    12/28/2015 8:39:22 AM PST · by SeekAndFind · 15 replies
    Of Two Minds ^ | 12/28/2015 | Charles Hugh-Smith
    If it takes more than $126,000 to fund a qualitatively defined middle class lifestyle, what sense does it even make to call this "middle"?The Pew Research Center's recent report The American Middle Class Is Losing Ground: No longer the majority and falling behind financially made a media splash, as it reported that less than 50% of adults are members of the Great American Middle Class. My analysis suggests that by more qualitative measures, no more than a third of U.S. households qualify as middle class: claiming 49% of the nation's households are still middle class is a gross exaggeration. My analysis starts with the minimum...
  • Finns, Americans and the Income Guarantee

    12/20/2015 6:37:27 AM PST · by Kaslin · 11 replies ^ | December 20, 2015 | Paul Jacob
    Some folks think the world owes them a living. Must we appease them? Should government hand every man, woman and child a check each month to make sure we're all taken care of? Finland is looking at this basic idea, which Finns dub an "unconditional basic income" (UBI). One proposal suggests providing every Finn 800-Euros a month without regard to income, or lack thereof. Polling shows the basic idea is quite popular, with 69 percent of Finns endorsing a slightly more generous proposal. It sounds like Democrat George McGovern's "guaranteed annual income," which was mocked and ridiculed during the 1972...
  • Sayonara Middle Class: 22 Stunning Pieces Of Evidence That Show The Middle Class In America Is Dying

    12/14/2015 8:16:32 AM PST · by SeekAndFind · 13 replies
    EAD ^ | 12/14/2015 | Michael Snyder
    Once upon a time, middle class households took home 62 percent of all income in America. Today, that number has dropped to just 43 percent. This is just one of the absolutely astounding statistics that you will read about in this article. Over the years, the middle class in America has been in steady decline. Our incomes have been going down, our net worth has been going down, the quality of our jobs has been going down, and yet the cost of living just keeps going up. As a result of all of these factors, more Americans are living in...
  • Finland is considering giving every citizen $1000 a month

    12/06/2015 12:35:23 PM PST · by bigdaddy45 · 93 replies
    Authorities in Finland are considering giving every citizen a tax-free payout of €800 (£576) each month. Under proposals being draw up by the Finnish Social Insurance Institution (Kela), this national basic income would replace all other benefit payments, and would be paid to all adults regardless of whether or not they receive any other income. Unemployment in Finland is currently at record levels, and the basic income is intended to encourage more people back to work. At present, many unemployed people would be worse off if they took on low-paid temporary jobs due to loss of welfare payments.

    11/25/2015 5:32:12 AM PST · by expat_panama · 19 replies
    Bureau of Economic Analysis ^ | November 25, 2015 | Staff
    PERSONAL INCOME AND OUTLAYS, OCTOBER 2015 Personal income increased $68.1 billion, or 0.4 percent, and disposable personal income (DPI) increased $56.8 billion, or 0.4 percent, in October, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $15.2 billion, or 0.1 percent. In September, personal income increased $27.4 billion, or 0.2 percent, DPI increased $27.0 billion, or 0.2 percent, and PCE increased $9.5 billion, or 0.1 percent, based on revised estimates. Real DPI increased 0.4 percent in October, compared with an increase of 0.3 percent in September. Real PCE increased 0.1 percent in October, the same increase as...
  • The Crisis Of The American Working Class

    11/04/2015 12:36:06 PM PST · by Another Post-American · 6 replies
    The Federalist ^ | 11/4/15 | Ben Domenech
    The disturbing evidence about the health of white middle-aged American working class, discovered and publicized this week by Nobel prize winner Angus Deaton and his wife Anne Case, is not tied to just one trend in the culture, policies, or economic factors at work within the United States. It is not the fault of one party or movement, but has multiple root causes. But it is something we all ought to be concerned about, both for the future fiscal and policy burden it represents, and for the broader lesson it tells us about how America is changing. The numbers clearly...
  • Right-to-Work-for-More: Income is Growing in Michigan

    10/27/2015 1:29:45 PM PDT · by MichCapCon · 1 replies
    Michigan Capitol Confidential ^ | 10/24/2015 | Jarrett Skorup
    A new report from the U.S. Bureau of Labor Statistics shows that the personal income of Michigan residents grew 3.7 percent between the second quarter of 2014 and the second quarter of 2015. Even more impressive, from 2012 through the second quarter of 2015 personal income here has increased by 9.2 percent here (from $382 billion to $417 billion). Nationwide, income growth during this same span was 8.3 percent. Michigan became a right-to-work state in December of 2012. The law became effective in March 2013. ForTheRecord says: When Michigan’s right-to-work law was enacted at the end of 2012, unions attacked...
  • Why EPA Plan Should Concern Fixed-Income Americans the Most: Jacki Daily Show

    10/17/2015 1:58:46 PM PDT · by RaceBannon · 7 replies
    The Jacki Daily Show ^ | 11/13/14 | Jacki Daily Show
    Why EPA Plan Should Concern Fixed-Income Americans the Most Nancy Gravatt, Sr. VP of Communications for the American Mining Association, explains why the President’s new agreement with the Chinese to cut carbon emissions will not fulfill its stated mission, and why the EPA’s new regulations will hit hardest on the pocketbooks of fixed-income Americans.
  • Why We’re Never Moving Away from Income Inequality: A few thoughts on a futile project

    10/08/2015 7:25:34 AM PDT · by SeekAndFind · 7 replies
    National Review ^ | 10/08/2015 | Kevin D. Williamson
    One of the weird little facts of life that we don’t think about or talk about very much — and really should when we’re talking about taxes, the minimum wage, welfare spending, and other things related to inequality of income and wealth (and go ahead and picture me here manfully resisting the urge to put sneer quotes around “inequality,” as if a uniform distribution of material resources were the natural state of things and not some daft dorm-room fantasy) — is that we pay for everything (really, everything) collectively. Let me show you what I mean. Housing is famously expensive...
  • Tax Cuts on Sale: Save Up to 10 Percent on Income Tax Rate Cuts

    09/30/2015 8:25:13 AM PDT · by MichCapCon · 3 replies
    Michigan Capitol Confidential ^ | 9/26/2015 | James Hohman
    Michigan taxpayers and voters were surprised earlier this year as the bill for business subsidies handed out years ago came due higher than expected. It sent legislators scurrying to figure out what to do about the cost of a corporate welfare program begun in 1995. So far, they have come up empty. Nevertheless, there is one loophole that should be explored. It can lower the expense of these incentives while also making Michigan a more inviting place for businesses. Michigan can reduce the generosity of its existing business subsidies by lowering the state’s personal income tax rate. Before 2012, the...
  • Census Data Proves It – There Was No Economic Recovery Unless You Were Already Rich

    09/28/2015 12:24:40 PM PDT · by GilGil · 17 replies ^ | 9/17/2015 | Michael Krieger
    From Bloomberg: U.S. Census Bureau data out Wednesday underscore just how lousy the recovery has been if you aren’t rich. Looking at eight groups of household income selected by Census, only those whose incomes are already high to begin with have seen improvement since 2006, the last full year of expansion before the recession. Households at the 95th and 90th percentiles had larger earnings through 2014, the latest year for which data are available.
  • A stunning stat about pay seems impossible but actually is true

    09/22/2015 4:37:18 PM PDT · by ForYourChildren · 62 replies
    The Washington Post ^ | September 22, 2015 | Matt O'Brien
    Once upon a time, American men used to get something called a "raise." That is when your employer would actually pay you more money. Now, it is true that some people still have experience with this all-but-forgotten practice, but even the ones who do tend not to get pay increases that keep up with price increases. That is why, as David Wessel of the Brookings Institution points out, the typical male worker actually saw his after-inflation pay fall between 1973 and 2014. What is four lost decades between friends? So why, as you can see below, have median male earnings...
  • A Hunting Ban Saps a Village’s Livelihood

    09/13/2015 3:51:58 AM PDT · by Erik Latranyi · 15 replies
    MSN ^ | 13 September 2015 | NORIMITSU ONISHI
    SANKUYO, Botswana — Lions have been coming out of the surrounding bush, prowling around homes and a small health clinic, to snatch goats and donkeys from the heart of this village on the edge of one of Africa’s great inland deltas. Elephants, too, are becoming frequent, unwelcome visitors, gobbling up the beans, maize and watermelons that took farmers months to grow. Since Botswana banned trophy hunting two years ago, remote communities like Sankuyo have been at the mercy of growing numbers of wild animals that are hurting livelihoods and driving terrified villagers into their homes at dusk. The hunting ban...
  • Battenfeld: Hard-luck Hillary has pulled down $141M since ’07

    08/01/2015 5:53:45 AM PDT · by Zakeet · 11 replies
    Boston Herald ^ | August 1, 2015 | Joe Battenfeld
    Only Hillary Clinton could try to get away with slamming her Republican opponents for siding with the wealthy at the same time disclosing she’s filthy rich. Just $141 million for her and Bill Clinton since 2007, a figure that makes even the one-percenters envious. But Hillary’s different from other rich people because she wishes she had less money. If only her heartless GOP opponents would let her. “They want to give me another tax cut I don’t need instead of putting middle-class families first,” she said. Another thing that makes Hillary Clinton understand the middle class better: She pulled herself...
  • Big 3 broadcast nets deep-six Obama's suburb-busting plan

    07/14/2015 9:55:15 PM PDT · by afraidfortherepublic · 35 replies
    The American Thinker ^ | 7-14-15 | Thomas Lifson
    The Democrat-Media Complex have just told us what they fear the most as an issue in the 2016 election: President Obama’s plan to “fundamentally transform” suburbia (as explained today by Jeannie DeAngelis). This is an issue that literally hits voters where they live, by using the denial of federal funding to override local control and force communities to provide low-income housing distributed to approved minority groups. Investor’s Business Daily reports that all three broadcast networks ignored the story that affects their viewers more directly than almost any other issue. The Big Three news networks all punted on covering one of...
  • The 4 percent-plus solution

    05/26/2015 6:04:27 PM PDT · by Tolerance Sucks Rocks · 12 replies
    The Washington Times ^ | May 25, 2015 | Richard W. Rahn
    Of those running for president, who will give this speech? “Ladies and Gentlemen, my administration will implement a series of economic policies to cause the economy to grow at an average rate of 4 percent or more a year. Growth of 4 percent-plus per year will create jobs at a faster rate than the growth in the labor force and provide hope for those who had despaired of finding a good job again. At a growth rate of a little over 4 percent per year, real incomes for all of our citizens will double in only 17 years. (At the...
  • What If Everybody Didn't Have to Work to Get Paid?

    05/20/2015 8:27:35 PM PDT · by 2ndDivisionVet · 70 replies
    The Atlantic ^ | May 18, 2015 | David R. Wheeler
    Scott Santens has been thinking a lot about fish lately. Specifically, he’s been reflecting on the aphorism, “If you give a man a fish, he eats for a day. If you teach a man to fish, he eats for life.” What Santens wants to know is this: “If you build a robot to fish, do all men starve, or do all men eat?” Santens is 37 years old, and he’s a leader in the basic income movement—a worldwide network of thousands of advocates (26,000 on Reddit alone) who believe that governments should provide every citizen with a monthly stipend big...
  • Sowell: 'Just Asking'

    05/18/2015 12:39:27 PM PDT · by jazusamo · 47 replies
    Creators Syndicate ^ | May 19, 2015 | Thomas Sowell
    In a recent panel discussion on poverty at Georgetown University, President Barack Obama gave another demonstration of his mastery of rhetoric — and disregard of reality. One of the ways of fighting poverty, he proposed, was to "ask from society's lottery winners" that they make a "modest investment" in government programs to help the poor. Since free speech is guaranteed to everyone by the First Amendment to the Constitution, there is nothing to prevent anybody from asking anything from anybody else. But the federal government does not just "ask" for money. It takes the money it wants in taxes, usually...
  • Norway ranks as world's best place to be a mother (USA #33)

    05/05/2015 8:35:44 AM PDT · by Mrs. Don-o · 15 replies
    Manila Bulletin ^ | May 5, 2015 | unlisted
    Norway ranks as the world's best place to be a mother, well ahead of the United States which dropped to the 33rd spot in the annual scorecard released by Save the Children on Monday. Somalia is the worst place, just below the Democratic Republic of Congo and the Central African Republic. Save the Children released its 16th annual Mothers' Index, which rates 179 countries based on five indicators related to maternal health, education, income levels and the status of women. This year, the United States dropped from number 31 on the list to 33, behind Japan, Poland and Croatia....
  • Congress: Middle class incomes drop as immigration surges

    04/23/2015 2:23:07 PM PDT · by xzins · 46 replies
    Washington Examiner ^ | APRIL 23, 2015 | PAUL BEDARD
    Wages of America's middle class have dropped below 1970s levels as immigration has surged 325 percent, according to a new congressional report that questions claims that native Americans are economically helped by greater immigration. The nonpartisan Congressional Research Service report studied immigration and middle class income from 1945-2013 and found that as immigration slowed between 1945 and 1970, American incomes increased. But when immigration expanded, the incomes of the bottom 90 percent of Americans went flat and then dropped beginning in 2000. In the report to the Senate Judiciary Committee, the CRS reported that the foreign-born population of the United...
  • Except for rich, Americans' incomes fell last year

    04/03/2015 4:37:38 AM PDT · by C19fan · 22 replies
    AFP ^ | April 2, 2015 | Staff
    Most Americans' incomes continued to fall last year, but the richest 20 percent saw theirs rise, a new Labor Department report showed Thursday. In fresh data that adds fire to a growing debate over income inequality, the department said that Americans on average saw income decline for the second straight year in the 12 months to June 2014.
  • Obama’s Immigration “Legacy:” Lower Wages, Less Security for Americans

    03/28/2015 6:48:46 AM PDT · by Kaslin · 4 replies ^ | March 28, 2015 | Ken Blackwell
    “All we're saying is we're not going to deport you," was the big lie President Barack Obama used when he announced his executive action on immigration. Despite being repeated time and again by politicians and the media during the DHS funding debate to describe the president’s action, it’s still a lie. To quote an analysis of the President’s speech published by Associated Press within hours, “THE FACTS: He's saying, and doing, more than that. The changes also will make those covered eligible for work permits, allowing them to be employed in the country legally and compete with citizens and legal...
  • Power from the People:The decline in unionization in recent decades has fed the rise in incomes at t

    Power from the People FINANCE & DEVELOPMENT, March 2015, Vol. 52, No. 1 Florence Jaumotte and Carolina Osorio Buitron The decline in unionization in recent decades has fed the rise in incomes at the topInequality has risen in many advanced economies since the 1980s, largely because of the concentration of incomes at the top of the distribution. Measures of inequality have increased substantially, but the most striking development is the large and continuous increase in the share of total income garnered by the 10 percent of the population that earns the most—which is only partially captured by the more traditional...
  • (Democrat Governor) Wolf wants Pennsylvania income, sales tax increase

    03/03/2015 1:07:25 AM PST · by prisoner6 · 26 replies
    Pittsburgh Post-Gazette ^ | March 3, 2015 | Karen Langley
    Gov. Tom Wolf is expected to call today for the Republican-controlled General Assembly to send him a budget that boosts state education funding and provides relief for school district property taxes while raising the rates of the sales and personal income taxes. His plan for doing so includes a proposal to raise the personal income tax rate in July 2015 from 3.07 percent to 3.7 percent, while increasing the eligibility for a poverty exemption, according to a briefing document prepared by the administration. He will propose increasing the state sales tax in July 2016 from 6 to 6.6 percent while...

    01/01/2015 3:35:28 PM PST · by Col. Bob · 34 replies ^ | September 4th, 2014 | Bob Lonsberry
    <p>The Democrats are right, there are two Americas. The America that works and the America that doesn’t. The America that contributes and the America that doesn’t. It’s not the haves and the have nots, it’s the dos and the don’ts. Some people do their duty as Americans, obey the law, support themselves, contribute to society and others don’t. That’s the divide in America .</p>
  • The American Middle Class Hasn’t Gotten A Raise In 15 Years

    09/22/2014 8:29:16 PM PDT · by Theoria · 30 replies
    Five Thirty Eight ^ | 22 Sept 2014 | Ben Casselman
    In 1988, the typical American adult was 40 years old, white and married, with a high school diploma. If he was a man, he probably worked full time. If she was a woman, she probably didn’t.Twenty-five years later, Americans are older, more diverse and more educated. We are less likely to be married and more likely to live alone. Work is divided more evenly between the sexes. One thing that hasn’t changed? The income of the median U.S. household is still just under $52,000.The government’s release last week of income and poverty data for 2013 brought renewed attention to the...
  • The Food Gap Is Widening (Rich People Eating Better, Poor People Eating Worse)

    09/02/2014 2:08:58 PM PDT · by lbryce · 145 replies
    Atlantic ^ | September 2 ,2014 | James Hamblin
    Nutritional disparities between America’s rich and poor are growing, despite efforts to provide higher-quality food to people who most need it. So says a large study just released from the Harvard School of Public Health that examined eating habits of 29,124 Americans over the past decade. Diet quality has improved among people of high socioeconomic status but deteriorated among those at the other end of the spectrum. The gap between the two groups doubled between 2000 and 2010. That will be costly for everyone. The primary conclusion of the study is interesting, though, in that its focus is diet quality...
  • Gov’t Spending Per Household Exceeded Median Household Income (and worker income) 3 Straight Years

    08/18/2014 6:12:35 AM PDT · by xzins · 22 replies
    CNS ^ | August 14, 2014 | Terence P. Jeffrey
    ( - Combined federal, state and local government spending per household exceeded the median household income in 2009, 2010 and 2011, the three most-recent years for which full data is available, according to calculations made using numbers from the White House Office of Management and Budget and an historical online database of state and local finances recently established by the Census Bureau. In 2011, in current year dollars, total government spending in the United States was $6,115,429,668,000. That included $2,516,666,590,000 in net state and local government spending and $3,598,763,078,000 in net federal government spending. That year there were 121,084,000 households...
  • Obama Recovery Turns 5: Are You Better Off?

    07/22/2014 6:27:35 AM PDT · by IBD editorial writer · 67 replies
    Investor's Business Daily ^ | 07/22/2014 | John Merline
    In a speech last week in Delaware, President Obama was positively bursting with pride about what his policies have produced since the economic recovery started five years ago. What Obama didn´t say in his speech is that [snip] many Americans are doing a whole lot worse than they were when Obama's economic recovery began five years ago.
  • What's the Price of Happiness in Your State? (With Chart)

    07/21/2014 12:18:55 PM PDT · by 2ndDivisionVet · 9 replies
    The Philadelphia Inquirer ^ | July 21, 2014 | Eric Reed
    The price of happiness depends a lot on where you live, according to a new report by the investment group Advisor Perspectives. The analysis is based on the now-famous work by Princeton researchers Daniel Kahneman and Angus Deaton, who found that higher incomes only make people happier to a point. Up to about $75,000 per year, the more a household earns, the happier people are. After that benchmark, however, additional income "buys life satisfaction but not happiness." The team separated these two issues by distinguishing fun from happiness. More money still leads people to have more life experiences and greater...
  • Income Inequality Is Not Rising Globally. It's Falling.

    07/21/2014 10:01:46 AM PDT · by SeekAndFind · 9 replies
    New York Times ^ | 07/21/2014 | Tyler Cowen
    Income inequality has surged as a political and economic issue, but the numbers don’t show that inequality is rising from a global perspective. Yes, the problem has become more acute within most individual nations, yet income inequality for the world as a whole has been falling for most of the last 20 years. It’s a fact that hasn’t been noted often enough. The finding comes from a recent investigation by Christoph Lakner, a consultant at the World Bank, and Branko Milanovic, senior scholar at the Luxembourg Income Study Center. And while such a framing may sound startling at first, it...