Kabuki financial theatre – Congress net worth up 15 percent from 2004 to 2010 while the average American sees their net worth decline by 8 percent in the same timeframe. Welcome to plutocrat USA.
We truly have the best government money can buy. From 2004 to 2010 members of Congress increased their median net worth by 15 percent while the average American saw it fall by 8 percent. Yet this fall in net worth does little justice to the rising cost of food, energy, healthcare, and college expenses that […]
The economic treadmill is throwing millions out of the middle class and into poverty. In 2010 75 percent of unemployed received unemployment benefits while today it is down to 48 percent. From unemployment to food stamps.
The economy is being pulled apart from the center as if two mighty horses on both sides were set to run in opposite directions of the financially strapped middle class. This seems to be the current trajectory of our economic progress. The ranks of the poor continue to grow while the financial sector continues to […]
The glory of debt spending and casino financial markets. What is the typical income, tax situation, and household income for Americans? Americans claiming student loan deduction surges from 4 million to 10 million in roughly one decade. According to IRS AGI needs to be above $1 million to qualify for top one percent.
This weekend I spent time digging through IRS and Social Security data to get a better perspective on working and middle class Americans. I find it amazing that in a consumer driven economy, meaning we live to spend in some respect that the media never even bothers to focus on household incomes. Even on self […]
Middle class do worse in current economic recovery – median household income falls faster during recovery than during recession. S&P 500 up 77 percent in recovery while home values are neutral or down in many areas.
Some incredibly disturbing data was released this week showing the continuing crushing body blow to the American middle class. What was striking was that middle class incomes have fallen faster during the supposed recovery from June 2009 to June 2011 than they did in the actual recession from December 2007 to June 2009. Why? First, […]