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Keyword: income

Brevity: Headers | « Text »

    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 Michiganís 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 Presidentís new agreement with the Chinese to cut carbon emissions will not fulfill its stated mission, and why the EPAís new regulations will hit hardest on the pocketbooks of fixed-income Americans.
  • Why Weíre 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 donít think about or talk about very much ó and really should when weíre 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 ďinequality,Ē as if a uniform distribution of material resources were the natural state of things and not some daft dorm-room fantasy) ó 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 stateís personal income tax rate. Before 2012, the...
  • Census Data Proves It Ė There Was No Economic Recovery Unless You Were Already Rich

    09/28/2015 12:24:40 PM PDT · by GilGil · 17 replies
    Libertyblitzkrieg.com ^ | 9/17/2015 | Michael Krieger
    From Bloomberg: U.S. Census Bureau data out Wednesday underscore just how lousy the recovery has been if you arenít 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 Villageís Livelihood

    09/13/2015 3:51:58 AM PDT · by Erik Latranyi · 15 replies
    MSN ^ | 13 September 2015 | NORIMITSU ONISHI
    SANKUYO, Botswana ó 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 Africaís 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 í07

    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 sheís filthy rich. Just $141 million for her and Bill Clinton since 2007, a figure that makes even the one-percenters envious. But Hillaryís different from other rich people because she wishes she had less money. If only her heartless GOP opponents would let her. ďThey want to give me another tax cut I donít need instead of putting middle-class families first,Ē 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 Obamaís plan to ďfundamentally transformĒ 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. Investorís 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? ďLadies 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, heís been reflecting on the aphorism, ďIf you give a man a fish, he eats for a day. If you teach a man to fish, he eats for life.Ē What Santens wants to know is this: ďIf you build a robot to fish, do all men starve, or do all men eat?Ē Santens is 37 years old, and heís a leader in the basic income movementóa 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 ó 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.
  • Obamaís Immigration ďLegacy:Ē Lower Wages, Less Security for Americans

    03/28/2015 6:48:46 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | March 28, 2015 | Ken Blackwell
    ďAll 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 presidentís action, itís still a lie. To quote an analysis of the Presidentís speech published by Associated Press within hours, ďTHE 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¬ówhich 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
    Lonsberry.com ^ | September 4th, 2014 | Bob Lonsberry
    <p>The Democrats are right, there are two Americas. The America that works and the America that doesnít. The America that contributes and the America that doesnít. Itís not the haves and the have nots, itís the dos and the doníts. Some people do their duty as Americans, obey the law, support themselves, contribute to society and others donít. Thatís the divide in America .</p>
  • The American Middle Class Hasnít 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 didnít.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 hasnít changed? The income of the median U.S. household is still just under $52,000.The governmentís 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 Americaís 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...
  • Govít 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
    (CNSNews.com) - 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 didnīt 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 donít 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. Itís a fact that hasnít 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...
  • More Employment Woes Thanks To Obamacare

    07/10/2014 10:52:46 AM PDT · by george76 · 9 replies
    WMBF.. TruthRevolt ^ | 7.10.2014 | | | Caleb Howe
    WMBF in Myrtle Beach, SC, reported Wednesday on the growing trend of businesses hiring only part-time workers, due to an inability to afford Obamacare. This situation leaves workers without healthcare and without a full-time income or other benefits. Local staffing agencies say more small business are starting to hire more part time employees. Not because there is more full time work, but as WMBF reporter Mandy Noell found out, it's because they can't afford to have more full time employees. Obamacare places requirements for health care benefits that many small businesses just cannot afford to pay. As a result, they...
  • Popular Nonsense

    06/04/2014 4:06:02 AM PDT · by Kaslin · 16 replies
    Townhall.com ^ | June 4, 2014 | John Stossel
    "Young people are exploited!" "Income mobility is down!" "Poor people are locked into poverty!" Those are samples of popular nonsense peddled today. Leftist economist Thomas Piketty's book "Capital in the Twenty-First Century" has been No. 1 on best-seller lists for weeks (with 400 pages of statistics, I assume "Capital" is bought more often than it is read). Piketty argues that investments grow faster than wages and so the rich get richer far faster than everyone else. He says we should impose a wealth tax and 80 percent taxes on rich people's incomes. But Piketty's numbers mislead. It's true that...
  • NYC Announces Plan to Equalize Neighborhoods

    05/27/2014 10:17:58 AM PDT · by John Semmens · 13 replies
    Semi-News/Semi-Satire ^ | 23 May 2014 | John Semmens
    Concerned that the City is an inhomogeneous hodgepodge with pockets of great wealth in some neighborhoods and squalor in others, newly appointed Housing Preservation and Development Commissar Vicki Been announced a plan to move 80,000 to 120,000 poorer families into middle class neighborhoods. ďThis way instead of having blight and filth in every direction they might look poorer families will be within easy walking distance of a better kept neighborhood,Ē Been boasted. ďThe crimes that plague poorer sections of our City would be more evenly dispersed throughout the whole City. Victims will come from a more broadly representative subset of...
  • Exclusive: Like New Jersey, most states felt drop in April income taxes

    05/23/2014 7:07:18 AM PDT · by Oldeconomybuyer · 17 replies
    Reuters ^ | May 23, 2014 | BY LISA LAMBERT AND KAREN PIEROG
    ... Personal income tax collections plunged last month from a year earlier in 27 of 32 states for which Reuters was able to collect data. That's most of the 43 states that levy income taxes, and drops were as high as 50 percent. While many states predicted tough times this year, a handful including New Jersey and Pennsylvania is set to face hard decisions on either cutting spending or raising taxes. By the end of last year, 26 states had still not seen overall tax revenue return to pre-recession levels, according to recent data from Pew Charitable Trusts.
  • U.S. Rep. Jim Bridenstine is either a liar or pathetically ignorant on tax reform!

    05/10/2014 2:53:46 PM PDT · by JOHN W K · 16 replies
    5/10/14 | johnwk
    SEE: Bridenstine: Repeal the 16th Amendment ĒU.S. Rep. Jim Bridenstine, R-Okla., has introduced a bill in the U.S. House of Representatives to repeal the 16th Amendment of the U.S. Constitution which allows the federal government to levy the income tax.Ē Wrong Mr. Bridenstien! The 16th Amendment does not allow the federal government to levy an ďincome taxĒ. In fact, the phrase ďincome taxĒ does not even appear in the 16th Amendment, and the power to levy an income tax was exercised long before the 16th Amendment was adopted! The first so called ďincome taxĒ is found in An Act to...
  • Which US Cities Have The Highest Income Inequality?

    05/10/2014 10:56:57 AM PDT · by SeekAndFind · 15 replies
    Zero Hedge ^ | 05/10/2014 | Tyler Durden
    Atlanta, Georgia suffers the greate income inequality of any city in the US - closely followed by New Orleans. According to Bloomberg, which ranked 300 U.S. cities with populations of at least 100,000 based on their level of income inequality and identified the 50 with the greatest inequality. What is stunning is that while top-down many are focused on the widening gap overall, in these 2 cities alone, over one-quarter are in poverty (earn less than $4,020), while 60% are in the nation's top quintile for household income. Interestingly, the median income does not correlate well with the inequality.Income...
  • Raise Taxes to Fix the Wealth Gap, Millionaires Say

    05/06/2014 10:08:55 AM PDT · by SeekAndFind · 33 replies
    NBC News ^ | 05/06/2014 | Robert Frank
    In the heated debate over inequality, the wealthy are usually portrayed as the cause rather than the solution. But CNBC's first-ever Millionaire Survey reveals that 51 percent of American millionaires believe inequality is a "major problem" for the U.S., and nearly two-thirds support higher taxes on the wealthy and a higher minimum wage as ways to narrow the wealth gap. The findings show thatófar from being a purely self-interested voting blocóAmerican millionaires have complicated views when it comes to the wealth gap and opportunity in America. They are unashamed of their own wealth and attribute their success to hard work,...
  • Stop Whining About The 1%; Instead Work Like The Rich

    04/26/2014 10:45:41 AM PDT · by Innovative · 34 replies
    Investor's Business Daily ^ | April 25, 2014 | IBD Editorial
    Avarice: Many people, it seems, can't get over how well investors are doing these days ó as if they shouldn't be able to do OK if others aren't. Instead of taking offense, maybe the others ought to be taking notes. Let's see if we have this right: Some people work to exhaustion, earning money for their security and that of their families. And instead of spending it on stuff they don't need, they set it aside. The latest idea ó coming from a French economist ó is that eight of every 10 of their dollars should be taken away and...
  • Wage Discrimination

    04/23/2014 4:57:58 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | April 23, 2014 | Walter E. Williams
    "President Obama Vows Zero Tolerance on Gender Wage Gap," read one headline. Another read, "Women Still Earned 77 Cents On Men's Dollar In 2012." It's presumed that big, greedy corporations are responsible for what is seen as wage injustice. Before discussing the "unjust" wage differences between men and women, let's acknowledge an even greater injustice -- which no one seems to care about -- age injustice. According to the Bureau of Labor Statistics, workers ages 16 to 24 earn only 54 cents on every dollar earned by workers 25 or older (http://tinyurl.com/n6puf6j). This wage gap is 43 percent greater than...
  • Minnesota's wealthy caught in a tight tax net over residency

    04/19/2014 9:19:32 AM PDT · by TurboZamboni · 44 replies
    MPLS Star & Sickle ^ | 4-16-14 | ADAM BELZ
    Itís getting tougher for Minnesotans to avoid the stateís taxes by spending part of the year somewhere else. Snowbirds and high earners are discovering that they must do more than buy a condo in the Sun Belt and register a vehicle there, after a court decision last year reinforced the stateís ability to use any of more than two dozen criteria to determine who is a Minnesota resident. ďPeople refer to it as Hotel Minnesota,Ē said Matt Shea, a lawyer at Gray Plant Mooty. ďYou can come any time you like, but you can never leave.Ē To determine tax residency,...
  • Why Are The Poor, Poor?

    04/19/2014 4:08:38 AM PDT · by Kaslin · 69 replies
    Townhall.com ^ | April 19, 2014 | John C. Goodman
    Have you ever wondered why poor people are poor? It's not as though there aren't plenty of role models around. Millions of people live highly successful, productive lives in this country. So why don't people at the bottom of the income ladder copy the behavior of those several rungs above them and better their lot in life? As I wrote previously, the federal government's own pilot programs established conclusively from the very early days of the War on Poverty that the welfare state encourages people not to be married, not to work and not to invest in human capital. This...
  • Income Inequality for Thee, But Not for Me: The Hypocrisy of Nobel Prize Winner, Paul Krugman

    04/17/2014 7:06:29 AM PDT · by SeekAndFind · 5 replies
    American Thinker ^ | 04/17/2014 | Brian C Joondeph, MD
    Paul Krugman is a distinguished economist, Professor of Economics and International Affairs at Princeton University, a NY Times columnist, and a Nobel Laureate. As a frequent commentator on cable news shows, he speaks passionately about income inequality and politics. From his book, The Conscience of a Liberal, he notes that, ‚ÄúImpersonal forces such as technological change and globalization caused America‚Äôs income distribution to become increasingly unequal, with an elite minority pulling away from the rest of the population.‚ÄĚHow ironic that Dr. Krugman will provide a first hand as a member of this ‚Äúelite minority‚ÄĚ benefiting from income inequality. The City...
  • Income Inequality: Biblical and Earthly Perspectives

    04/15/2014 10:56:11 AM PDT · by Starman417 · 5 replies
    Flopping Aces ^ | 04-14-14 | Warren Beatty
    Elizabeth Warren (D-MA) views income inequality as a moral issue that governments should address. Warren also says that a minimum wage increase is needed to stop income inequality. She equated the minimum wage to income inequality. Warren said that concentrated wealth as the result of a rigged system that funnels the gains from workers' productivity to their bosses, who suppress minimum wages. Isabel Sawhill, co-director of the Center on Children and Families at the Brookings Institution, about a minimum wage increase: "It will reduce inequality." Dear Leader Barack Hussein Obama loves the idea of income inequality. Obama says "I...
  • ALERT: H.J.RES.104 will not end taxes calculated from incomes!

    04/15/2014 10:49:15 AM PDT · by JOHN W K · 25 replies
    4-15-14 | johnwk
    †I am very disappointed to learn that some Tea Party Activists are now promoting Representative Jim Bridenstineís H.J.RES. 104 as a way to ďrepeal the 16th Amendment and abolish the income taxĒ.† Additionally, donations are being asked to support this movement.† The problem is, if H.J.RES. 104 was adopted and its proposed wording added to our Constitution, the 16th Amendment would indeed be repealed, but Congress would continue to have power to lay and collect taxes calculated from profits, gains, and other ďincomesĒ.†The important wording in Representative Jim Bridenstineís proposed amendment declares:`Effective 2 years after the ratification of this article...
  • Tax Freedom Dayí falls three days later this year

    04/07/2014 8:41:24 PM PDT · by Errant · 6 replies
    The Daily Caller ^ | 7 April 2014 | Caroline May
    The day when the nation collectively has made enough money to pay its total tax burden for the year is three days later this year, according to a new report. According to a report released Monday by the Tax Foundation, this year Tax Freedom Day falls 111 days into 2014, on April 21. By April 21, to group says, Americans will have made enough to pay the $3 trillion in federal taxes and $1.5 trillion in state taxes ó more than they will spend on food clothing and housing combined. Tax Freedom Day is later than it was last year,...
  • 19 Signs That The U.S. Consumer Is Tapped Out: Years of declining incomes and rising debts

    03/15/2014 11:53:43 AM PDT · by SeekAndFind · 33 replies
    TEC ^ | 03/15/2014 | Michael Snyder
    You can't get blood out of a rock. Traditionally the United States has had a consumer-driven economy, but now years of declining incomes and rising debts are really starting to catch up with us. In order to have an economy that is dependent on consumer spending, you need to have a large middle class. Unfortunately, the U.S. middle class is steadily shrinking, and unless that trend is reversed we are going to see massive economic changes in this country. For example, in poor neighborhoods all over America we are seeing bank branches, car dealerships and retail stores close down at...
  • Reforming Federal Corporate Tax and Individual Income Tax: A Step in the Right Direction

    02/26/2014 1:38:30 PM PST · by ThethoughtsofGreg · 9 replies
    ALEC ^ | 2-26-14 | Will Freeland
    Earlier today U.S. Representative Dave Camp, Chairman of the House Ways and Means Committee, released a bill designed to fundamentally reform both the federal corporate and individual income tax (press conference video here and executive summary here). America is far overdue for such reform. As Camp points out in the Wall Street Journal: ďAccording to Nina Olsen, the National Taxpayer Advocate at the IRS, Americans overall spend over six billion hours and $168 billion every year to file their returns. This is stark testimony to the complexity of the tax code. Meanwhile, owners of small businesses face tax rates as...
  • G.O.P. Tax Plan Seeks Lower Rates and Fewer Brackets, Aides Say

    02/25/2014 2:51:02 PM PST · by Theoria · 23 replies
    The New York Times ^ | 25 Feb 2014 | ASHLEY PARKER
    The Republican plan to overhaul and simplify the nationís tax code is expected to call for a cut in the top corporate income rate to 25 percent from 35 percent, and a reduction of the seven individual tax brackets to two ó at 10 percent and 25 percent ó according to aides familiar with the proposal. The proposal, which is set to be released Wednesday after nearly three years of behind-the-scenes work, is the brainchild of Representative Dave Camp of Michigan, the chairman of the Ways and Means Committee, and it reflects the long-held tax overhaul goals of the Republican-passed...
  • Here's How Much You Have To Make To Buy A House In 25 Major Cities

    02/20/2014 8:52:58 AM PST · by SeekAndFind · 34 replies
    Business Insider ^ | 02/20/2014 | ANDY KIERSZ
    Online mortgage company HSH.com recently estimated the salaries needed to afford a house in 25 metropolitan areas across the United States. Because, the cost of real estate varies across cities and regions ó you need to be making about four times as much money in San Diego as in Cincinnati to afford a house. The map illustrates these differences. The wider the circle over a city, the more you need to make to afford a house there: CLICK ABOVE LINK FOR THE MAP AND TABLE
  • Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities

    02/18/2014 4:38:42 PM PST · by SeekAndFind · 34 replies
    Business Insider ^ | 02/18/2014 | MEGAN WILLETT
    The cost of living in America varies wildly. In Cleveland, people need a base salary of at least $19,435 a year to afford the average home, while San Franciscans must make upward of $115,000 annually.HSH.com, an online mortgage and consumer loan information website, figured out how much a person would have to earn to afford a home in 25 of the country's largest metropolitan areas.To do so, HSH looked at the National Association of Realtors’ fourth-quarter data for median home prices and HSH.com’s fourth-quarter average interest rate for 30-year, fixed-rate mortgages to determine how much money homebuyers would need to...
  • President Obama Doesnít Know How to Create Jobs, and a Minimum Wage Increase Wonít Help

    02/18/2014 2:21:51 PM PST · by ThethoughtsofGreg · 9 replies
    American Legislator ^ | 2-15-14 | Cara Sullivan
    President Obamaís big government philosophy has created an economic environment hostile to job growth and economic prosperity. He says he is committed to ďshovel ready jobs,Ē yet onerous regulations from his agencies delay projects from moving forward and shackle businesses with costs that prevent them from expanding. His signature legislationóThe Affordable Care Actóhas led some employers to slash hours and freeze hiring, and may lead employees to voluntarily reduce their own hours or leave the workforce altogether. Now it appears that the President is doubling down. His newest plan to help Americans is to raise the minimum wage, a proposal...
  • How Giving $1,000 to Every Baby in America Could Reduce Income Inequality

    02/13/2014 6:59:44 PM PST · by SeekAndFind · 46 replies
    National Journal ^ | February 12, 2014 | Norm Ornstein
    Like it or not, the sharp inequality in the country is a fundamental issue. The gap between the richest and the rest of us is greater than it has been since 1929óa notable year. The gap between the pay of CEOs and top executives and the average pay of their companies' workers has grown into a yawning chasm compared with the ratio just a couple of decades ago. One can believe, along with deluded oligarchs such as Tom Perkins, that any criticism of the rich is like Kristallnachtóor, more reasonably, that without the drivers of wealth, the entire society would...
  • Minimum Wages: Few Benefits, Many Consequences

    02/10/2014 2:25:41 PM PST · by ThethoughtsofGreg · 4 replies
    American Legislator ^ | 2-10-14 | Will Freeland
    President Obamaís recent State of the Union address was the culmination of months of advocacy from Democrats and activists for a higher minimum wage. The President proposed a raise to the minimum wage for federal contractors by executive order to $10.10 per hour and called on Congress to raise the national minimum wage for all workers to the same mark, along with indexing it to inflation. A raise of the national minimum wage was framed as giving low income workers the ďliving wageĒ they deserve and fighting perceived growth in income inequality in America. Though the Presidentís proposal is well...