Fed doublespeak and the dismantling of the middle class: Fed states dropping “patient†word doesn’t mean it is impatient on rates. In 1970 roughly 7 percent of all income was earned by the top 1 percent. Today it is closer to 20 percent.
The Fed has taken a page out of George Orwell’s 1984. Doublespeak is all the rage and the Fed’s statements are analyzed as if sifting for gold. Even when they don’t do anything markets jump. The Fed sets the tone on our debt addiction. The Fed dropped the word “patient†in terms of increasing interest […]
The 35 year drought in real wages for American workers: American workers really haven’t had a raise since 1979.
Economic recoveries take on a variety of shape and sizes. With stock markets reaching new highs you would expect that some of the fruits of this boom would trickle down to American workers. But some of the booming trends are continuing on the path of low wage labor and certainly, of turning people into contract […]
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 […]
The Red Queen’s Race in pay raises: Record number of employed US workers report no change in wages or salary. Stagnant wages and inflation eating away at purchasing power.
A record number of Americans currently working are reporting no wage increases over the last year. What is important to note in this recent report from the Federal Reserve is that this is for those working and staying in their current job. As we know, we have a growing army of people in the “not […]