August 22, 2012 |
The vast majority of middle-class Americans say their financial well-being has been crimped over the last 10 years by sagging home values and dreary job prospects, according to a new survey. About 85% of middle-class people say it's tougher now than a decade ago to maintain their living standards, according to the Pew Research Center report. “Since 2000, the middle class has shrunk in size, fallen backward in income and wealth, and shed some - but by no means all - of its characteristic faith in the future,” the report states.
August 2, 2012
Politicians on both sides of the partisan divide want to simplify the federal tax code by pruning the thicket of loopholes, exemptions and credits. In fact, President Obama and his presumptive Republican opponent, former Massachusetts Gov. Mitt Romney, have both promised to seek tax simplification if elected in November. A new study by three fiscal policy experts, however, shows that if simplification is coupled with a deep cut in rates, as Romney has proposed, lower- and middle-income Americans would have to pay more in taxes just to keep the same amount of revenue flowing into the Treasury.
February 1, 2012 |
Clarifying a statement that quickly went viral on the Internet on Wednesday morning, Mitt Romney said he was concerned about poor Americans but was focused on the problems of the middle class in his quest for the White House. On CNN on Wednesday morning after his 14-point win in Florida Tuesday night , Romney said he was “not concerned about the very poor” because they have “a safety net there” and “if it needs repair, I'll fix it.” ( Watch video below. ) “You've got to take the whole sentence, all right?
CALIFORNIA | LOCAL
January 15, 2012 |
Were it not for the financial aid that helps cover the cost of his tuition, it is unlikely that Devonte Jackson would be able to attend UC Berkeley. The political science major has two campus jobs, but his $12,000 state-paid Cal Grant is the glue that holds his education dreams together. Tuition, books, housing and other fees top $31,000 annually. But Cal Grants could become much harder to obtain for new students under restrictions proposed by Gov. Jerry Brown as part of his 2012-13 budget.
CALIFORNIA | LOCAL
December 15, 2011 |
Trying to ease the burden of families squeezed by the recession and skyrocketing tuition costs, UC Berkeley announced plans Wednesday to extend financial aid to thousands of students from households earning $80,000 to $140,000 a year. With the program, which starts next fall, UC Berkeley becomes a pioneer among public universities in a national effort to make a college education more affordable for a wider swath of middle-income families. Well-funded private colleges previously have led the way. UC Berkeley officials called the move a response to reports in California and around the country that some middle-income households are being priced out of the University of California and are reluctant to take on high levels of debt.
August 5, 2011 |
Retail sales cooled in July amid a wave of renewed economic worries, but the nation's merchants still managed to post a decent month. Investors, however, seemed unimpressed as retail stocks fell on a dismal day for the stock market. Major chain stores reported a 4.4% rise in sales compared with the same month last year, according to Thomson Reuters' tally of 25 companies. Sales were in line with Wall Street expectations and were helped by the start of back-to-school season, hot weather and big discounts.