by yes_its_him So the IRS put out some aggregate information on 2016 taxable gross income reported by single people under age 26. 80% earned up to $25,000. Another almost 16% earned $25,000 to $50,000. So that’s collectively 96% of people in that …
Doug Ford cancels Ontario’s Guaranteed Income program (Link to article below) https://business.financialpost.com/op…
by WARREN MOSLER Flattened out at modest levels of growth with no sign that the tax cuts have led to an acceleration: Pending home sales fall for seventh straight month in July Signed contracts to buy existing homes fell 0.7 …
via Fye_Maximus: Full Article Here I got the data on how much is required to buy a home in each state from from HowMuch.Net, Their analysis uses home price data from Zillow from April 2018, and then Zillow’s mortgage calculator to figure …
by howmuch Paying for housing is usually the most expensive fixed cost that people have, and rightly so. Advisers recommend that to maintain a healthy budget, you should spend no more than one-third of net income on housing, whether you …
via @OccupyWisdom : https://twitter.com/OccupyWisdom/status/1032118924597444609 https://twitter.com/OccupyWisdom/status/1032118927583846401 https://twitter.com/OccupyWisdom/status/1032118930079473664 https://twitter.com/OccupyWisdom/status/1032118939470442496 https://twitter.com/OccupyWisdom/status/1032118952762245120 https://twitter.com/OccupyWisdom/status/1032118966121127937 https://twitter.com/OccupyWisdom/status/1032071468472049664
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter A deep dive based on the report by the Federal Highway Administration for 2017 compared to 2009. When I entered the auto industry in 1985, there was a lot of hand-wringing about the average age of …
by WindyAndShady Throwaway acount for privacy. Location: Oregon. Husband is retired for about 10 yrs now with government pension (PERS), I was a SAHM and don’t work now and don’t plan to. Only child is out of the house now, …
by WARREN MOSLER More Q2 weakness: Highlights Consumers credit came in below expectations, up $10.2 B in June as consumers held back from adding to their credit-card debt and even paid off some of it following a spending spree in …
by DCG Gee, who could have predicted that? From The Guardian: Ontario’s new Conservative government has said it will scrap the province’s basic income pilot, calling it expensive and unsustainable – and bringing an abrupt end to North America’s first government-backed trial …
.@KennedyNation on universal basic income: "This dangerous trend of endless handouts cannot continue if this country plans on existing in 50 years. We already spend too much." pic.twitter.com/T9sqyVQRma — FOX Business (@FoxBusiness) August 4, 2018 Universal Basic Income is not …
by stockboardasset According to researchers at the Economic Policy Institute (EPI), a Washington, D.C.-based liberal think tank, the top 1 percent of American families took home approximately 26.3 times as much income as the bottom 99 percent in 2015— a 4 percent increase …
Background: Walletwyse just re-launched the mortgage & car calculators, emphasizing the role of monthly operational costs in total cost of ownership. This got me thinking about relative cost of items (like internet utilities) that don’t take up a huge chunk of …
via businesscycle: Stealth Slowdown Unfolding Wall Street is too optimistic on the economy, veteran forecaster warns from CNBC. As the chart shows, real personal income and consumer spending growth are both in cyclical downturns. Contrary to the notion of a “strengthening” economy, consumer spending …
Wealthiest 20% own 84.6% of the wealth Wealthiest 20% pay 87% of the income taxes Lower 80% own 15.4% of the wealth Lower 80% pay 13% of the income taxes IMBALANCES https://twitter.com/OccupyWisdom/status/1017628063344013312
by DCG I wonder how much of his $450 million net worth he’s given away to address income inequality? From CNBC: Facebook co-founder Chris Hughes thinks the government should give cash handouts to people with the lowest incomes in order to fight income inequality. And he …
1. There’s a difference between real personal, household and family #income. Personal = 1 person Household = 2 people, typically Family = 4 people 2. PERSONAL = $31,099 Increased a paltry $7,000 in like 50 years. This is the income …
by Jesse “In progressive societies the concentration [of wealth] may reach a point where the strength of number in the many poor rivals the strength of ability in the few rich; then the unstable equilibrium generates a critical situation, …
https://www.youtube.com/watch?v=YIZqsq5fi8I Scott Kelnhofer for the Western Journal reports, Money can’t buy love and it can’t buy happiness. And in some areas of the San Francisco, it can’t buy most people a home, either. Read More/Source/Credit/FairUse: https://www.westernjournal.com/low-in…
Let’s hope he continues the fervor all the way to the FED! Expose the plot to sink the Titanic (killing the last few anti-Fed voices in the US), establish the Fed, slap income taxes on the population, open up tariff-free …
From José Niño at Mises Wire: According to some media reports, the Universal Basic Income (UBI) party in Finland is coming to an end. But Professor Olli Kangas, head of the research team at the Finnish social insurance agency, claims that the experiment “is proceeding …
As each progressively larger bubble (post 1995) inflates the imaginary net worth of households, real savings plummet. These metrics diverge the most right before the bubble bursting & resulting #recession ensues https://twitter.com/OccupyWisdom/status/1007699655948492801 do not look at this pic.twitter.com/pPo008WDOt — Alastair …
Americans are spending $69 more each month to fill up their tank, according to a Triple A report. CHICAGO (CBS) — Americans are spending $69 more each month to fill up their tank, according to a Triple A report. On Wednesday, …
by Rocksteady2323 I thought this community might find this interesting. Tracks the life of my wife and I over the last 7 years and how our cost of living and salaries have changed over time. There’s some decent insights!
via thehill: Michael Tubbs, the mayor of Stockton, Calif., is planning to offer a “no strings” guaranteed basic income of $500 a month to residents in an effort to combat poverty in the city. Under the plan, which is scheduled …
THE PEOPLE OF STOCKTON, CALIFORNIA MIGHT WANT TO RETHINK THEIR CHOICE FOR MAYOR… Stockton Mayor Michael Tubbs says that for way too long, his city has been known for headlines about bankruptcy, violent crime and the housing collapse. In the …
by WARREN MOSLER Spending was up, but unfortunately due to higher gas prices, which were paid for by further dipping into savings that were already far too low. So looks to me like q2 is off to a very uncertain …
Jim Chanos talks with CNBC about shorting tesla He says that: “for most short positions you earn income” You receive the financing rate when you short an index (so you sell it above the index price) On something like tesla …
by Jesse The data seems to indicate that a sharp decline in Real Median Personal Income to a negative growth year over year seems to precede an economic recession. As for the causes of this correlation, one might well wonder. But given …
via The Street: The reasons that the Fed introduced ZIRP in the aftermath of the 2008 crisis are now immaterial. All that matters now is what the Fed will do going forward. And math dictates that regardless of why interest …