The evolution of low wage America: The most common jobs by state in 1978 to 2014. The destruction of the manufacturing industry.
The US continues to see a widening gap between the army of low wage workers, the highly paid small upper-class, and a dwindling middle class. We’ve already shown through IRS tax data that households make a lot less than people think. The US has been on a very steady trend towards having a massive pool […]
The largest bracket of tax payers in the United States is made up by those making $15,000 a year or less: Half of all federal taxes paid by those making $250,000 or more. Sample $50,000 budget.
New IRS tax filing data sheds an interesting light on the American economy. Americans for the most part comply with paying their taxes as measured against other countries. However, when we look at tax data we get an interesting picture on the low wage economy. As it turns out, the largest tax bracket comes in […]
Market indicators suggesting a correction is coming: On Black Tuesday Shiller PE Ratio was at 30. Today it is at 26.2 and volatility is back in a big way.
Volatility is back in a big way for the global economy. Not that it went away but for a couple of years central banks fooled the public into believing that perpetual debt was a good way to rejuvenate the markets. There will be no free lunch. Oil crashed rather dramatically. Greece is reigniting further issues […]
Comparing the inflated cost of living today from 1938 to 2015: US Dollar losing an enormous amount of purchasing power since 1938.
People have a hard time understanding how inflation erodes their purchasing power. Little by little the cost of everything goes up and people simply assume this is normal in an economy. The $2 movie ticket becomes a $8 movie ticket. That can of tuna just got smaller but the price remains the same. The cost […]
Profits of doom: For-profit colleges are the resurrection of subprime mortgage lenders for the college industry.
At a time when the cost of a college education is being thoroughly questioned, there is one area we should all agree on. For-profit colleges are largely a distraction to fixing our higher education system and operate as the subprime lenders in college education. For-profit colleges claim they are trying to provide an education to […]
When working leads to food stamp usage and the rise of dollar stores: Food stamp usage is still near record levels even in the face of a dropping unemployment rate.
Food stamp usage surges when the economy enters into a recession. That is no surprise. In fact, this is the design of the program. A safety net when things get bad. But if we are to believe headline indicators, the economy is improving so we should see food stamp usage decline substantially. It has not. […]
The minimum wage economic recovery – 44 percent of jobs added since recession ended come from low-wage industries paying $10 an hour or less.
This has been a disjointed economic recovery. Most Americans are hearing about this Wall Street party yet look at their paychecks and wonder when the party is going arrive in their neighborhood. Looking back at the 2001 recession, the recovery during that time came largely by adding higher paying employment. That is not the case […]