Let’s keep our fingers crossed that Gov. Jindal’s proposal gets a friendly reception from the state legislature.
Since income tax season in the United States has officially begun, we thought we'd mark the occasion by revisiting our original Form 1040 tool, where you can find out how much of the money you earned last year would have been taken from you by Uncle Sam back in 1913!
Our chart reveals what that distribution looked like for 2012, as indicated by the curves showing the major income percentiles.
We're going to explain why household income inequality in the United States has increased over time, even though there has been no change in individual income inequality.
Average hourly earnings has been falling for years and lagging CPI inflation since September 2009. Simply put real wages have been declining.
Clearly there is a "winner-take-all" concept in the markets, but it should be equally clear that winner-take-all is not primarily based on technical skills.
In the 1980s, 1990s and the aughts, growth investing was the name of the game, though more recently, dividend-paying stocks have shown renewed popularity.
Since income is predominantly earned by individuals (note that your paycheck is made out to you, not your spouse, roommate, parents or children), the only way these patterns can exist is if high income earning individuals are increasingly combining together over time to form families and households, or as is more likely the case, low income earning individuals are becoming less and less successful in forming families and households.
With future tax rates up in the air, it's pretty near impossible to accurately predict what any of us will be paying in income taxes in the future.
The latest example of this battle is taking place in Oklahoma, where the Governor has proposed to eliminate the state income tax and her main opponents are members of the corrupt GOP establishment.
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