A major reason why new home building has not substantially recovered is because outside of the upper classes real wages have been stagnant since the end of Great Recession. Worse, despite a rising stock market, a majority of Americans own no stock. Lastly, among households headed by individuals under 40, net worth is still, on average, lower than it was before the housing bust. We desperately need wage growth.
Tag Archives: income
Taxes and Rates
Ever wonder how much federal tax you pay? The answer (with some assumptions) depends on 4 tax rates. 1st you pay the combined income and payroll tax on earnings. 2nd you pay the corporate tax while you invest your money. 3rd you pay dividend and capital gains tax as you receive the income. 4th you pay the estate tax when you leave what has accumulated to your heirs. Clearly taxes and rates matter
The Biggest Myth
The biggest myth being promulgated today is that the economy must be doing better because state & local government revenues are on the rise. Dude! That’s not the economy! It’s called tax increases. In fact, 23 states have boosted taxes in the past year. Eight have even raised income taxes!