How to lose 40 percent of your net worth in 3 years – Americans see their net worth collapse during the recession. Federal Reserve survey highlights a case of austerity for the masses and social welfare for the politically connected.
Working and middle class families already feel the burden of a more limited financial middle in our economy. What was once taken for granted such as affordable quality college education, homes with moderate mortgages, and healthcare costs that didn’t put families on the verge of bankruptcy are now largely harder to come by. The Federal […]
The banking shell game sponsored by your bailout dollars – how banks lure working and middle class Americans into losing hard earned money. $29.5 billion in overdraft fees charged last year.
Banks really have a wonderful structure in place at least when it comes to US banking. The Federal Reserve and US Treasury have given an open ended response in terms of bailing out the banking system should any additional financial crisis should arise. Even at the moment no real changes have occurred and this is […]
Using the young as a shield for hitting the deficit spending wall – the bill will come due for the young. Government spending prioritizes old American immediate needs and will send the bill to the young.
The level of government spending is mind boggling but has taken a backseat to the issues being experienced over in Europe. We are running trillion dollar deficits as if this was somehow customary in our history. For each dollar spent we are seeing less of a result in the real economy. Part of the issue […]
Who will pay for the massive US public debt? 30 percent of those with incomes above $10 million audited.
Now that tax seasons is mostly finished for your average American and people can exhale and take a breather, some interesting data is released by the IRS. Audit data is fascinating because it highlights that in terms of those getting an audit, the more you make the more likely you are to be audited. It […]