Is it possible to pay zero in Federal Income taxes on a $150,000 income? The answer might surprise you.
The tax system in the United States might as well seem like a foreign language to most individuals. Vague statues. Obscure language. When you examine the tax system carefully it heavily favors those with higher incomes and those who invest. The investing part is not necessarily bad since Americans need to save more given the [...]
Personal income for American worker – Median personal income for those working in America is much less than you would think
I’m struck by how many Americans think that wages in the United States are off the charts. The typical American worker is pulling in about $26,507. At least this is the median personal income in the United States. This works out to be about $500 per week which doesn’t equate too much especially given the incredibly high [...]
Income distribution – To make it in the top .1 percent you have to make $750,000 individually or $3,000,000 as a married couple.
There is deep psychological fascination with wealth in the United States. This goes back to the days of the Vanderbilt family and our modern day tycoons. It also brings to light how wide the income divergence in our country has become and with economic challenges being faced by many this disparity only gets more heightened. [...]