Fed: Almost Half of US Households Have Under $400 Saved
May 31, 2016
We begin today by looking at the recently released Federal Reserve study on the economic conditions of 50,000 randomly-selected US households. This annual survey attempts to capture a snapshot of the financial and economic well-being (or not well-being) of US households. Let me warn you upfront that some of the findings are really bad.
Following that discussion, I will reprint a recent study by FORBES which concludes that Americans who make over $100,000 pay almost 80% of all federal income taxes. That’s right. According to IRS data, Americans earning over $100,000 paid 79.5% of federal income taxes for 2014. This proves that top income earners pay more in income taxes than those who earn less.
Finally, I have two great opinion pieces in SPECIAL ARTICLES at the end that everyone should read, regardless of who you will be voting for in November.