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Keyword: income

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  • The Real Story Behind "Rising" U.S. Income Inequality

    10/27/2011 9:27:46 AM PDT · by Kaslin · 12 replies ^ | October 27, 2011 | Political Calculations
    Why is income inequality rising for U.S. families and households, but not for individual Americans? Having now shown that there has been absolutely no significant change in the level of inequality among U.S. individual income earners from 1994 through 2010, we thought we'd take a step back and look at the data for U.S. families and for households to examine those trends over time. The chart below shows what we find for each grouping of Americans according to their Gini Coefficient, where a value of 0 indicates perfect equality (everyone has the same income) and a value of 1 indicates...
  • Washington Area Is Tops in Income

    10/20/2011 2:23:34 PM PDT · by throwback · 7 replies
    Washington, D.C., nosed out San Jose, Calif., as the nation's highest-income metropolitan region, fueled mainly by its army of attorneys, consultants, lobbyists and outside government contractors. Census data for 2010 show median household income was $84,523 in the D.C. area, compared with $83,944 for the San Jose region, the epicenter of Silicon Valley. Both numbers are well above the median income of about $50,000 for the nation as a whole. While Washington's incomes in 2010 were lower than in 2009, paychecks in the D.C. region have been more stable overall. About 5.6 million people live in the D.C. area, including...
  • D.C. Boasts Highest Average Income In U.S.

    10/19/2011 5:02:24 PM PDT · by Nachum · 13 replies
    Big Government ^ | 10/19/11 | Publius
    Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show. The U.S. capital has swapped top spots with Silicon Valley, according to recent Census Bureau figures, with the typical household in the Washington metro area earning $84,523 last year. The national median income for 2010 was $50,046. The figures demonstrate how the nation’s political and financial classes are prospering as the economy struggles with unemployment above 9 percent and thousands of Americans protest in the streets against income disparity, said...
  • EDITORIAL: The Imperial District--Washington, D.C., fiddles while America burns

    10/19/2011 4:51:12 PM PDT · by jazusamo · 11 replies
    The Washington Times ^ | October 19, 2011 | Editorial
    New Census Bureau data show that Washington, D.C., is the wealthiest metropolitan area in America. This is nothing to be proud of. The report shows that the National Capital Region edged out Silicon Valley to become the most affluent U.S. metropolitan areas. The typical Washington metro household earned $84,523 in 2010, compared to a national median income of $50,046. Income in the D.C. area registered a 0.8 percent drop, but that didn’t faze government bureaucrats, who kept getting automatic raises. For federal workers, total compensation with benefits jumped 3 percent in 2010 to an incredible $126,369. A separate study showed...
  • Incomes fall for first time in almost two years

    09/30/2011 8:03:44 AM PDT · by Free Vulcan · 5 replies
    Marketwatch ^ | 9.30.11 | Greg Robb
    Income fell a seasonally adjusted 0.1% in August, which was the first decline since October 2009... Consumer spending increased a seasonally adjusted 0.2% in August, down from a revised 0.7% gain in July...Economists surveyed by MarketWatch expected a flat reading in income and a 0.1% gain in spending... The core personal consumption expenditure price index was up 0.1% in August, below economist expectations of a 0.2% gain
  • The Distribution of Income for 2010: Individuals

    09/14/2011 11:09:13 AM PDT · by Kaslin · 6 replies ^ | September 14, 2011 | Political Calculations
    According to data just released by the U.S. Census this morning, in 2010, the median income earned by an individual American was $26,197, or rather, 50% of Americans earned more than that amount and 50% earned less than that amount. The average (or mean) income was $38,337. We've presented the cumulative distribution of the total money income earned by individuals in the United States in the chart below: So what percentile does your income place you on that chart? Well, wonder no more! Our latest tool will tell you exactly where you rank among all Americans, or rather, the 211,492,000...
  • Income Slides to 1996 Levels

    09/14/2011 7:02:34 AM PDT · by bolobaby · 23 replies
    Wall Street Journal ^ | SEPTEMBER 14, 2011 | CONOR DOUGHERTY
    The income of the typical American family—long the envy of much of the world—has dropped for the third year in a row and is now roughly where it was in 1996 when adjusted for inflation. The income of a household considered to be at the statistical middle fell 2.3% to an inflation-adjusted $49,445 in 2010, which is 7.1% below its 1999 peak, the Census Bureau said. The Census Bureau's annual snapshot of living standards offered a new set of statistics to show how devastating the recession was and how disappointing the recovery has been. For a huge swath of American...
  • Michigan Worst in Nation for Adding High-Income Earners from 1999 to 2009

    09/06/2011 1:15:58 PM PDT · by MichCapCon · 11 replies
    Michigan Capitol Confidential ^ | 9/5/2011 | Tom Gantert
    Michigan was the worst state in the union when it came to the growth of high-income taxpayers from 1999 to 2009, according to a new Tax Foundation analysis. The nonpartisan tax research group charted the percentage growth in each state of taxpayers earning more than $200,000 annually. North Dakota finished first. Tax Foundation’s Nick Kasprak, author of the analysis, said the national average for growth of taxpayers making $200,000 or more was 51.6 percent. Michigan came in at 18.1 percent. North Dakota saw a 137.4 percent increase. “The recession obviously hit Michigan very hard and its incomes are more depressed...
  • Taxing the Rich – 1765 to 2011, Part III

    09/04/2011 11:36:48 PM PDT · by NaturalBornConservative · 4 replies
    Natural Born Conservative ^ | September 4, 2011 | Larry Walker, Jr.
    – War on Taxes: 1964 to 2011– By: Larry Walker, Jr. –"The largest single barrier to full employment of our manpower and resources and to a higher rate of economic growth is the unrealistically heavy drag of federal income taxes on private purchasing power, initiative and incentive." ~John F. Kennedy, Jan. 24, 1963, special message to Congress on tax reduction and reform From Taxing the Rich Recap: 1776 to 1912In 1765, Great Britain imposed a series of taxes upon the American Colonies, in order to pay for its lengthy French and Indian War (1754-1763). After the war, the British forced...
  • Spending climbs 0.8% in July as savings dip (Personal income up .3%)

    08/29/2011 7:05:47 AM PDT · by Free Vulcan · 3 replies
    Marketwatch ^ | 8.29.11 | Jeffry Bartash
    WASHINGTON (MarketWatch) — Americans spent more money than they took in July — largely on auto purchases — as the personal savings rate fell, the government reported Monday. The income of U.S. workers rose 0.3% in July, but spending climbed an even faster 0.8%, the Commerce Department said. The rise in spending matched the increase in February as the largest since summer 2009... Inflation, meanwhile, rose 0.4% based on the latest reading from the personal consumption expenditure price index. The index has increased 2.8% over the past 12 months, pressured by rising gas prices.
  • Do high ZOT taxes discourage trolls?

    08/23/2011 9:32:38 AM PDT · by Harry Callahan SFPD · 82 replies
    High marginal tax rates ^ | 8/23/2011 | Inspector Callahan
    "The fact is the idea that tax rates have anything to do with business creation is a myth. Nobody who has a great idea and good prospects is going to not go for it because of tax rates." -quote by a Liberal
  • America Now Has Fewer Millionaires: Liberals Want Income Equality – They Should Be Thrilled

    08/22/2011 1:16:37 PM PDT · by SeekAndFind · 28 replies
    Before It's News ^ | 08/20/2011
    There are fewer millionaires in America today – can you hear the celebration at the Blue Heron farm on Martha’s Vineyard where the Obama family is spending someone’s millions? Obama at Blue Heron Farm - 2009 Pullout quote: For the past three decades, the political left has obsessed about income inequality. As the economy experienced one of the largest and lengthiest economic booms in history from 1982-2007, the left moaned that the gains went to yacht club members. Well, if equality of income is the priority, liberals should be thrilled with the last four years. Wall Street Journal (great article...
  • America, the Needy-ful

    08/18/2011 7:53:12 AM PDT · by Kaslin · 11 replies ^ | August 18, 2011 | Kathy Fettke
    “How can the government help me?” This seems to be a growing sentiment among the American middle class. “The land of opportunity” is quickly becoming the “nation of the needy.” Here’s a question I received from a reader just last week: “I am not happy with how things are going since the Bush Administration allowed tax cuts for businesses and the wealthy. These cuts were supposed to end for those who just keep earning more off the middle class. My question is: I am told that investors can invest as little as $1000.00 in real estate, and make a living...
  • Income does Not equal Wealth

    08/02/2011 10:25:02 AM PDT · by stocksthatgoup · 20 replies
    Vanity | 8/02/2011 | Vanity
    Income does Not equal Wealth. Net Worth equals Wealth. Income equals Net Work!
  • U.S. consumer spending, prices fall in June (the bull market in stocks is OVER)

    08/02/2011 6:32:41 AM PDT · by Free Vulcan · 13 replies
    Marketwatch ^ | 8.2.11 | Jeffry Bartash
    WASHINGTON (MarketWatch) — The income of U.S. workers rose slightly in June, but they spent less and saved more at the same time that consumer prices fell, according to government data released Tuesday. Personal income increased a seasonally adjusted 0.1% on the month, the smallest gain since last November, the Commerce Department reported. Spending by consumers, however, dropped 0.2% to mark the first decline in nearly two years. Adjusted for inflation, personal consumption fell less than 1% in June. As a result, the individual savings rate for June climbed to the highest level of 2011 — 5.4% of disposable income,...
  • Universal Basic Income(free money for life coming soon)

    07/20/2011 9:55:19 AM PDT · by mainestategop · 30 replies
    Mainestategop ^ | 7/19/11 | Mainestategop
    The above title should say it all. It is a currently unheard of social program but one that will become widely known just like Social security and Universal health care. The Universal Basic Income is essentially getting free money for life with no strings attached. ABSOLUTELY NONE! It is already beginning to take hold in New Zealand and is being contemplated (not surprisingly) by that Communist liberal utopia that Democrats want us to emulate, the European Union. According to websites such as basic and similar websites advocating the implementation of UBI, everyone would receive somewhere between six hundred to...
  • Jobs, Income Data Show Right-To-Work States Working

    06/30/2011 7:37:14 AM PDT · by Slyscribe · 3 replies
    Investor's Business Daily ^ | 6/29/2011 | Sean Higgins
    The business world is abuzz over the National Labor Relations Board's complaint vs. Boeing's new South Carolina production line. For NLRB critics, the case boils down to one thing: "right-to-work" laws. Right-to-work states have generally lower unemployment, higher job growth, lower taxes and better business climates. They have growing populations and have been attracting businesses from other states.
  • 'I hate my babies and my older children are animals,' says Octomom Nadya Suleman

    06/29/2011 12:00:26 PM PDT · by Niuhuru · 67 replies
    DailyMail ^ | 5:31 PM on 29th June 2011 | By Daily Mail Reporter
    She is the mother of fourteen children, who gave birth to the longest surviving octuplets in U.S history. But in disturbing comments sure to alarm social services, Octomom's Nadya Suleman has said she 'hates' her eight babies. The 36-year-old single mother also calls her six older children 'animals'
  • Illinois out of money for income tax refunds

    06/29/2011 3:06:06 AM PDT · by blueyon · 43 replies
    JPStar ^ | 6/28/2011 | Doug Finke
    SPRINGFIELD — With the start of a new budget year just two days away, thousands of Illinois businesses are still waiting for state income tax refunds dating back to 2009. The Illinois Department of Revenue said Tuesday it would end the fiscal year June 30 still owing about $620 million in business income tax refunds. As of June 21, the department still owed 7,572 business income tax refunds, although spokeswoman Sue Hofer said the number by the end of the month would be lower because some since have been paid. The oldest of the overdue refunds goes back to April...
  • The Great (Male) Stagnation. The growing disconnect between GDP per capita and male income.

    06/09/2011 4:43:24 AM PDT · by SeekAndFind · 30 replies
    Marginal Revolution ^ | 06/08/2011 | Alex Tabarrok
    You have probably seen something like the following graph which shows real GDP per capita and median male income since 1947. Typically, the graph is shown with family or household income but to avoid family-size effects I use male income. It’s evident that real gdp per capita and median male income became disconnected in the early 1970s. Why? Explanations include rising inequality (mean male income does track real gdp per capita somewhat more closely), Tyler speculates that the nature of technological advances has changed, other people have speculated about rising corporate profits. Definitive answers are hard to come by.Here...