Relevant and even prescient commentary on news, politics and the economy.

Explaining Class Warfare

  Last month one hundred and fourteen thousand unemployed moochers…suddenly yank the government teat out of their mouths, get off the couch for forty hours a week? Why?     I say follow the money; cause I found out, that right around the time those people got those jobs…they started getting paid!   And just […]

What is the Economic Middle Class?

My lovely wife shared this link with me on Facebook.  I got into a discussion in comments there with a right winger who suggested that $250,000 was a very reasonable estimate for median income in Boston. As it turns out, median household income in Boston is $51,914, close to the national average, and way below […]

One in 189 of those with $200,000 or more in AGI paid no federal taxes in 2009

by Linda Beale One in 189 of those with $200,000 or more in AGI paid no federal taxes in 2009 [edited 5/30 to correct “one in four” goof] The IRS recently released another “statistics of income” report. This one has news that should make most ordinary Americans think twice about the GOP agenda of reducing […]

Inequality on the Island

by Noni Mausa Inequality on the Island Your island has 1000 people. 500 are working age, 500 are children or elderly and can’t do much.  That’s normal, and not a problem. The 500, working together, easily produce enough food and stuff for 5000 people, while also supporting the 500 young, old and disabled.  In fact, […]

US inequality is getting worse

by Linda Beale US inequality is getting worse The Congressional REsearch Service released a report in March showing that US inequality is getting worse. Linda Levine, US income distribution and mobility: trends and international comparisons, Congressional Research Service (Mar. 7, 2012). Here’s an excerpt from the summary provided in the report itself. Approaching three years […]

Consumption inequality and income inequality

From the same post at Taxprofblog, a different study presents data and definitions on a related issue, but focused on income, which is a somewhat separate and overlapping conversation: Orazio Attanasio (University College London, Department of Economics), Erik Hurst (University of Chicago, Booth School of Business) & Luigi Pistaferri (Stanford University, Department of Economics), The Evolution of […]

Do the 1% Work Harder Than the 99%?

Taxprofblog offers two studies on income and leisure that should spark some discussion.  I have split the two studies out to two posts at Angry Bear as they are somewhat different conversations: Income Inequality and Leisure Inequality: Do the 1% Work Harder Than the 99%? Wall Street Journal Wealth Report, Do the Wealthy Work Harder Than […]

Defining Rich VI: 1936 tax tables

Today we are continuing to look at the historical tax tables to see how we viewed and possibly defined rich. I introduced this idea with my post: Defining Rich III.   I found a source for all sorts of historical data from the Census Bureau. You can down load it or the better way is […]

Where Has All The Money Gone – Pt. III, Not to You and Me

Part I showed the money going to corporate profits, not to the salaries of working people.  Part II showed that the finance sector has captured an increasing slice of the profit pie.  Here is a different look at where the money hasn’t gone. The first graph shows Real GDP/capita and Real Disposable Income/Cap since 1950 […]