January 4, 2012 |
Via Kevin Drum , here's a new run at the income inequality fence from the bipartisan Congressional Research Service, and it should bury two shibboleths commonly employed by inequality-deniers: One, that inequality hasn't really increased in recent years, and two, that thanks to broadly held pension fund and mutual fund assets, rising share prices benefit all wage-earners. The report by the CRS, an arm of the Library of Congress, shows that inequality has increased quite smartly, thank you. From 1996 to 2006, total after-tax income in the U.S. rose by more than 20%. How was this gain distributed?
CALIFORNIA | LOCAL
March 27, 2013 |
An online voter registration system launched by California for last November's election appears to be bringing more lower-income people into the political process, according to an academic study. Researchers at UC Berkeley looked at the 839,297 people who registered to vote online before the election, and found that the breakdown was ethnically similar to those who registered in person or through the mail. However, the results showed more online registrants came from low- and middle-income neighborhoods than expected, according to researchers Lisa Garcia Bedolla and Veronica N. Velez.
CALIFORNIA | LOCAL
June 19, 2013 |
A new website announced Wednesday that uses state wage data shows California community college students the value of their certificate or degree. The Salary Surfer provides information on median annual incomes for 179 popular programs including health, business, social sciences, architecture, engineering and other disciplines. The intent is to help students make more informed decisions about their education, Community Colleges Chancellor Brice W. Harris said in a telephone briefing.
January 19, 2012 |
Republican presidential candidate Newt Gingrich and his wife, Callista, paid $994,708 in federal taxes on gross income of $3,142,066 in 2010, according to copies of the couple's joint tax return that his campaign released at the start of Thursday night's GOP debate. The 31.5% tax rate paid by the Gingriches is roughly double the amount that rival Mitt Romney said this week he pays on his own, much larger income. Romney said in Thursday night's debate that he would make his 2011 returns public, and perhaps some from earlier years, when the latest return is completed later this year.
June 27, 2013 |
WASHINGTON -- The government reported more positive signs for the economic recovery Thursday as initial jobless claims dropped last week and consumers' personal income and spending rose in May. The number of people filing for unemployment benefits for the first time fell to 346,000 in the week ending Saturday, down from a revised 355,000 the previous week, the Labor Department said. The drop was in line with analyst projections and brings the figure below the 350,000 level that economists say is consistent with moderate labor market growth.
February 12, 2012 |
Dear Liz: I am a 20-year-old college student with a stable, part-time job. I haven't contributed to a 401(k) with this company because I don't plan to be working for it for two years, which is how long I'd have to wait for my contributions and earnings to be 100% mine. I'd like to open a Roth IRA, but I'm not sure I'm eligible. I'm listed as a dependent and our household adjusted gross income is between $145,000 and $155,000. Can I open a Roth? Answer: The short answer is yes, although you may want to reconsider contributing to your workplace 401(k)