In response to:

Incomes Drop Most in 20 Years

pwregan Wrote: Mar 01, 2013 11:48 PM
Not only that, but since ALL Union Contract use the Federal Minimum Wage as the basis for all the pay scales in their contract, when the Pres and the Libs in Congress raise the minimum wage, the unions, like Teachers, Police, Fire, and Public Sector unionized employees all get a nice, but hidden, RAISE on the backs of the taxpayers. No wonder they vote Democrat !

In January of this year incomes dropped the most they have in 20 years. Let me just allow that to sink in. With the payroll tax cuts expiring January 1st, it is no surprise that people’s incomes fell and were spending and saving differently. Consumer spending rose in January, which seems to indicate that with these tax increases, households were forced to spend more of their income and save less.

Incomes fell by 3. 6 percent in January! This then sent the savings rate down to the lowest it’s been since November of 2007. What Americans now face is trying...