A $25 billion hit to real incomes.
The top 10% own 45% of wealth.
"Are hedge fund fees too high?" That's one...
A longer life expectancy.
In a recent analysis on its Stateline blog, Pew...
According to the Pew Charitable Trust...
Money, that's what I want.
Very few people in America are willing to...
Labour productivity is the real issue.
There's no fun in buying a big, expensive house...
Logical thinking might lead you to the...
Passive income is appealing.
Inequality in the US is a huge issue, and this...
A handful of block groups.
Emotional intelligence pays off.
American consumers will have more buying power...
The wealthier a student's family, the better...
We recently looked at how much a household...
In a new research note on inequality, Morgan...
The nature of income inequality in the US.
Money, money, money.
The geographic distribution of income and...
The mean incomes for all U.S. income brackets...
Whenever you’re in a position to charge someone — as a freelancer or small business owner, for instance — you want to get the most profit possible while still offering a reasonable rate. This simple trick, coined by the Freelancers Union, may allow you to up your price without turning […]
Going to work and collecting paychecks isn't...
Just 31 of 1000 women hitched annually.
Governing.com has put together a map of changes...
Big Wall Street bonuses are heading back...
New data from comparison shopping...
One of the most challenging and important issues in the U.S. right now is the rise of income inequality. The country’s highest earners are taking home a bigger percentage of the national income than ever before. This trend is hurting the economy — because the middle class consumers who spend […]
Beyond smart saving and investing, one of the best ways to increase your net worth is to steadily increase your income. And with annual performance reviews on the horizon and companies finalising their budgets, now may be just the time to put in your request for a raise. While negotiating […]
There’s something strange going on in Switzerland. This Sunday, Swiss voters will vote on the 1:12 Initiative, a plan to limit the monthly pay of Swiss companies’ top executives to the yearly pay of their lowest paid employees, an annual ratio of one to twelve. The people behind that idea […]
Can money buy happiness? If the Chinese growth story is to be believed, the answer is no. Despite their per capita income being nearly 20 times what it was in the late ’80’s, the Chinese have experienced a decline in life satisfaction. China’s growth model has not been completely “happy,” […]
Former vice presidential nominee and chair of the House Budget Committee, Paul Ryan has been considered the wonk of the House GOP for years. After being rebuked by voters as part of the Romney-Ryan ticket in 2012, Ryan has kept a low profile throughout this year. A new piece in […]
It may seem like inequality is getting worse. As the Wall Street Journal’s Justin Lahart wrote Sunday, the last time the 1% captured nearly 20% of all income was 1928. Even Wall Street big shots are now getting worried, Lahart reported, citing Bill Gross’ latest note to investors arguing inequality […]
Every minute you spend making cat memes represents 0.05 minutes you could have spent socializing, 0.27 minutes you could have spent on work, 0.04 minutes of relaxing and thinking and 0.12 minutes less of sleep. That’s what a new NBER research paper by Scott Wallsten finds after looking at the […]
No 1 will probably surprise you.
Switzerland has a very direct style of democracy. For example, changes to the constitution, or “popular initiatives,” can be proposed by members of the public and are voted on if more than 100,000 people sign them. If a majority of voters and cantons (Swiss states) agree, the change can be […]
The beltway bubble.
Asian households have the highest median income.
Get a move on.
They're younger, better educated and have fewer children.
Being popular in high school doesn't impact earnings.
And that concentration is likely to increase.
Poor kids don't even get a chance.
The guide to community-sourced agriculture.
Brooklyn's the place to be.
Kind to wallets and minds.
Miami Beach is where it's at.
Cost of living is everything.
[credit provider=”Flickr / JAHPEACEFUL666″ url=”http://www.flickr.com/photos/megazord/2736378532/in/photostream/”] In a society where success is often equated with being financially better off than the generation prior, young Americans today are way behind the pack. The under-40 crowd in the U.S. has seen its wealth come to a standstill even as the average American household income […]
[credit provider=”isstanners/Flickr” url=”http://www.flickr.com/photos/kingemma/3714800806/sizes/l/in/photostream/”] By Edith Jackson*, as told to Nora ZelevanskyLearnVesters loved the idea of mystery shopping in The Surprising Way I Make Money on the Side, so we spoke to a veteran mystery shopper to get the inside scoop on what it’s really like to get paid to hit the […]
[credit provider=”Sergio Lora / Flickr” url=”http://www.flickr.com/photos/[email protected]
/3505633834/”] Crain’s Chicago Business columnist Greg Hinz has a mega feature out this week offering proof that, well-publicised problems aside, Chicago is going through an unprecedented economic boom. Chicago now is outperforming the surrounding area by almost any measure—jobs, income, retail sales and residential property values, […]
A YouTube video that went viral this weekend shows that Americans radically underestimate income disparity in the U.S.
[credit provider=”AP Photo” url=”http://www.apimages.com/OneUp.aspx?st=dl&id=ddb0627a9de5da11af9f0014c2589dfb&showact=results&sort=relevance&sh=10&kwstyle=and&dbm=PY2002&adte=1338923401&ish=x&pagez=60&cfasstyle=AND&rids=ddb0627a9de5da11af9f0014c2589dfb&page=1&xslt=1&mediatype=Photo”] Billions of dollars really do grow on trees –– at least for the handful of Forbes’ 2013 Billionaires who didn’t have to work for their 10-figure bank accounts.Of more than 1,400 billionaires listed, Forbes listed “inherited” as the source of income for only a handful.
[credit provider=”Flickr/Ed Yourdon” url=”http://www.flickr.com/photos/yourdon/5243850944/sizes/l/in/photostream/”] For most of the past two months, politicians and pundits have predicted that, like the government’s previous artificial fiscal disasters, sequestration was going to be resolved at the last minute.But “hope” isn’t all that effective a strategy when one is hurtling toward the abyss, and it looks […]
Building on our previous data visualisation exercise, we’ve now gone the extra mile and built a tool you can use to estimate what your percentile income ranking is for your age group!
[credit provider=”Flickr/Ashwin Nellore Photography” url=”http://www.flickr.com/photos/ashwinnellore/8044298521/”] As you shop for a house and consider taking out a mortgage, determining your house payment can no doubt be a time-consuming process — running calculations, getting updated payment scenarios from your mortgage company, and determining whether or not you can qualify.What you might not […]
[credit provider=”U.S. Census Brueau”] If one thing is made clear by the latest Census report on the geographic concentration of high-income households, it’s this:Wealthy people love living on the water’s edge.
[credit provider=”flickr/stuartpilbrow” url=”http://www.flickr.com/photos/stuartpilbrow/2938100285/sizes/l/in/photostream/”] As parents know, some lessons are best learned the hard way.Taxes, however, aren’t one of those times.
[credit provider=”www.flickr.com” url=”http://www.flickr.com/photos/charlesfred/540680274/”] Drastic income inequality growth in the United States is largely derived from changes in the way the U.S. government taxes income from capital gains and dividends, according to a new study by Thomas Hungerford of the non-partisan Congressional Research Service.Essentially, what Democrats have been saying about income inequality — […]
The U.S. Census has published its list of U.S. metropolitan areas with the highest concentrations of wealth in the country.
[credit provider=”PGATour.com”] Some of the wealthiest Californians are threatening to pack up and leave over a newly adopted federal and state income tax hike.As it stands, the richest residents in the state pay up to 51.9 per cent of their income in federal and state taxes combined — the highest […]
[credit provider=”totalfilm.com” url=”http://www.totalfilm.com/features/12-stylish-movie-women/page:6″] Whether you consider yourself to be financially responsible, or you always seem to come up short on cash, there are a few key indicators that may indicate you are living beyond your mean.And being aware of them can save you loads of money woes in times of […]
[credit provider=”Instagram/rodrigoorizzi” url=”http://statigr.am/viewer.php#/detail/364505087790596378_16921327″] Taxes are inconvenient, unavoidable, time-consuming, and can be frustrating.And while most of us would rather be doing just about anything else, Money Talks News founder Stacy Johnson has a few ideas to help you get through filing faster this year by planning ahead.
[credit provider=”AP”] There has been a vast and important change of mind among the electorate, regarding the issue of taxes.On 13 July 2012, McClatchy Newspapers headlined “Poll: Majority Want Tax Cuts for All, Even the Wealthy,” and reported that, “A majority of Americans [who are registered to vote] want the Bush tax […]
Just 94 out of the more than 3,000 counties in America saw statistically significant increases in median household income between 2007 and 2011, according to new Census data.
[credit provider=”Flick via breenproductions” url=”http://www.flickr.com/photos/breenproductions/7311659962/in/photostream/”] Though there’s no question the recession dealt a major blow to Americans’ purse strings, the U.S. is still home to the most millionaires* in the world, according to research and consulting firm Capgemini.And at least one consumer trend is holding steady these days –– the […]
Newark Mayor Cory Booker has taken the challenge to live on the same food budget available to those in the Supplemental Nutrition Assistance Program—the equivalent of $4.32 per day.
[credit provider=”Instagram/tashkala” url=”http://statigr.am/viewer.php#/detail/322409058948767170_15005150″] More than one study has tried to determine the financial price of happiness. Some look at wealth. Others look at income.One well-publicised study last year put the optimal income for happiness at around $75,000.
[credit provider=”www.flickr.com” url=”http://www.flickr.com/photos/[email protected]
/167303040/”] The idea that poor and middle-class Americans are suffering is nothing new: Anyone with access to the news (or, for that matter, to an ordinary suburban neighbourhood) is likely to notice that it has gotten harder for average families to make ends meet.Beyond that, a veritable army […]
The Bureau of Economic Analysis has just updated their map showing personal income growth among the nation’s counties from 2010 to 2011. They found positive growth in 98.4 per cent of them.
Maybe you are thinking that you’d like to retire within the next few years, or perhaps you are already in your golden years. One of your prime considerations should be how to generate income that also keeps up with inflation. Besides some of the traditional sources, such as 401k accounts or […]
[credit provider=”Flickr via proimos” url=”http://www.flickr.com/photos/proimos/4046053052/in/photostream/”] Many Americans don’t know where to begin when it comes to preparing for retirement.Recent research shows that 82% of people are capable of saving more toward retirement, but only 28% of people know what to do.
[credit provider=”Flickr / Usonian” url=”http://www.flickr.com/photos/usonian/79162076/in/photostream/”] Monopoly is one of the most popular board games of all time.But with its plethora of inaccuracies, it doesn’t offer the best lessons in real-world finance.
The left keeps banging away at the preferential tax treatment of capital gains income. And that may be good politics. But is it good economics? Here is Tino Sanandaji, explaining the meaning of the above chart from his must-read, must-follow blog:
[credit provider=”Flickr/monkeyz_uncle” url=”http://www.flickr.com/photos/djbrandt/7767136538/”] Last month I got a job that pays well enough that I will owe federal income taxes. This
means that for the first time in my life, Governor Mitt Romney actually cares about me.
In my first two decades, I was a student.I only worked part-time jobs […]
[credit provider=”Rachel_2007 via Flickr” url=”http://www.flickr.com/photos/[email protected]
/2853631687/”] Michael T. Owyang and E. Katarina Vermann at the St. Louis Fed are out with some fascinating research looking at school types versus income.They compared private schools, public schools and Catholic schools under various conditions (rural versus urban, high versus low drop-out rate and starting […]
[credit provider=”AP / Itsuo Inouye”] Most people would rather live on multiple sources of income than one source. However, life doesn’t always give us what we want. So, when it happens that you have to live on one income stream, how can you manage your resources and live comfortably within […]
[credit provider=”Flickr / kansas_city_royalty” url=”http://www.flickr.com/photos/kansas_city_royalty/215661782/in/photostream/”] If you’re in the market for a new home, chances are you’ll have to compromise at some point along the way.Maybe you’ll have to commute a little farther than you’d like in order to get the best value for your money. Or perhaps you’ll forgo […]
[credit provider=”Flickr/JohnSeb” url=”http://www.flickr.com/photos/johnseb/3388169127/”] More than a decade after Aurora Almendral first set foot on her dream college campus, she and her mother still shoulder the cost of that choice.Almendral had been accepted to New York University in 1998, but even after adding up scholarships, grants, and the max she could […]
[credit provider=”Flickr / Ravages” url=”http://www.flickr.com/photos/ravages/6731739485/in/photostream/”] Are you ready to make some tough election-year decisions about your portfolio?Many investors have seen their nest eggs recover from the debacle that hit in 2008 and want to preserve and protect.
Recall that the biggest challenges facing the U.S. economy are slow growth (making our debt problem worse), falling incomes, and a labour market that has stagnated at depressed levels. The Tax Policy centre, on the fiscal cliff:
Vice President Joe Biden is spot on when he says the middle class “has been buried the last four years.”
[credit provider=”Flickr/Gage Skidmore” url=”http://www.flickr.com/photos/gageskidmore/5447038721/”] Recall the now infamous Tax Policy centre study that guesstimated Mitt Romney’s tax plan would a) cut taxes for high-income earners by $86 billion in 2015 and thus b) require an $86 billion tax increase on the middle class so as to not increase the deficit.There have […]
[preserve] [/preserve] [credit provider=”AP / Charles Dharapak”] With the documents Mitt Romney released recently, we know a bit more about his taxes.We know, for instance, that Romney paid a rate of 14.1 per cent on $13.7 million in income on his 2011 tax return, which he achieved by purposely overpaying. […]
[credit provider=”Flickr / josemanuelerre” url=”http://www.flickr.com/photos/josemanuelerre/6084776479/in/photostream/”] At first blush, today’s personal income and spending news looks like kind of a snooze.But actually it’s not good.
[credit provider=”flickr www.flickr.com” url=”http://www.flickr.com/photos/glenpooh/2081517207/in/photostream/”] All across the country tonight, Americans will be asking one important question: “What’s for dinner?”For an increasing number, the answer will be on a restaurant menu rather than in their kitchen, according to a report released late last year by Bank of America Merrill Lynch.
[credit provider=”Pater Martorano” url=”http://www.flickr.com/photos/petermartorano/5080400495/sizes/l/in/photostream/”] In the right conditions, driving is one of life’s great pleasures. But the costs that come with filling the tank and insurance coverage can take the fun out of it altogether.To find out where in America drivers suffer the most, CarInsurance.com compiled an “Automotive Misery Index,” […]
[credit provider=”AP/Adam Nadel” url=”http://www.apimages.com/OneUp.aspx?st=k&kw=Oseola%20McCarty&showact=results&sort=relevance&intv=None&sh=10&kwstyle=and&adte=1348518895&pagez=60&cfasstyle=AND&rids=4851988ba1e0da11af9f0014c2589dfb&dbm=PY2000&page=1&xslt=1&mediatype=Photo”] The world is full of secrets. We may envy our neighbours next door, with their fancy new cars and in-ground pool, but we might simply be unaware that they’re drowning in debt.(The average household with credit card debt owes roughly $16,000, and that’s just the average!)
[credit provider=”Wikimedia Commons” url=”http://en.wikipedia.org/wiki/File:Koeln_wrm_1044.jpg”] A new Pew poll spearheaded by economist Rakesh Kochhar shows the median American income is now lower than it was during the recession.In 2009, the year the Great Recession ended, the median income of U.S. households had been $52,195 (in 2011 dollars). Thus, in the two years since […]
Last week the Census Bureau has released the household income data for 2011. It is posted on the Census Bureau website. What I’m featuring in this update is an analysis of the quintile breakdown of data from 1967 through 2011 (see Table H.3).
[credit provider=”Chris Arnade” url=”http://www.flickr.com/photos/arnade/6881471852/in/set-72157626946880859/”] One third of Americans now count themselves part of the lower-middle or lower classes, according to a report from Pew Research centre, including nearly 40 per cent of young people between the ages of 18 and 30.The numbers are jarring not only for the grim picture […]
[credit provider=”Flickr / austinevan” url=”http://www.flickr.com/photos/austinevan/2750282427/in/photostream/”] In the aftermath of the Great Recession, household income dropped once again in 2011 while the poverty level stayed flat after three straight years of increases, the Census Bureau said Wednesday.Median household incomes adjusted for inflation fell 1.5 per cent to $50,054.
[credit provider=”the bridge via Flickr” url=”http://www.flickr.com/photos/[email protected]
/6362206223/sizes/l/in/photostream/”] The wealth gap between rich and poor has increased significantly over the past 50 years thanks to the economy, according to a new report from the Economic Policy Institute.The one per cent, in terms of wealth, currently have 288 times the net worth of the median household. […]
[credit provider=”Flickr / lovefool416″ url=”http://www.flickr.com/photos/lovefool416/2113181620/sizes/m/in/photostream/”] For years, the financial-services industry has drilled the “80% rule” into pre-retirees’ heads, suggesting that they’ll need to replace 80% of their pre-retirement income when they retire.Other variations on setting an income-replacement ratio–simply the retiree’s gross income from all sources in retirement divided by his […]