The Federal Reserve’s Survey of Consumer Finance (SCF) findings for 2013 are just out. It will take a bit to absorb them all—this is a rich data set with data not just on income, but on wealth as well, including debt. That makes it a key source for information on household net worth. But I… Read more
Clearly, there are a lot of people who feel that the economic recovery–over five years old by now, at least by the official count–isn’t reaching them. That’s a central result from a pretty gloomy poll out today from Rutgers University. I put some thoughts and data together over at PostEverything, showing the gaps between real GDP growth, corporate… Read more
And even if he is, given the numbers they’ve been posting, with enemies like that, who needs friends? Over at PostEverything.
Sounds obvious, I guess, but the idea gets taken too seriously. Over at PostEverything, I explore two channels by which lower corporate taxes could reach the middle on down: supply-side trickle down, and you know my views on that particular vial of fairy dust, and direct lowering of tax liability for the middle class, to… Read more
Yesterday I pointed out that adding in federal taxes and transfers does not much alter the trend in inequality over the last few decades. This morning, I’d like to feature another look at the costs of inequality—again, after accounting for taxes and transfers—in terms of income losses to the bottom 80% of households. The figure… Read more