A Quote by Ross Douthat
There are many families that want to raise kids on one income, or one income and some part-time work, and instead find themselves pressured, financially and culturally, to keep up with the dual-earning Smith-Joneses next door.
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Lower-income immigrant families might receive more in benefits than they pay in taxes. But that mathematical equilibrium is temporary, and an artifact of the way the tax-and-transfer system is structured to help lower-income families and to support families with kids.
Taxes and fees in Chicago and Cook County are forcing low-income families like the one I grew up in out of this city. It's clear we can't keep treating low-income and middle-class families like an ATM machine with no limit.
If you are ideologically opposed to income splitting for families, why wouldn't you scrap it for seniors? What is the distinguishing principle between income splitting for people with kids and income splitting for people who are retired?
Cities that tend of have better schools for middle-income families, they tend to have much better prospects for kids moving up in the income distribution.
The single largest variable that predicts SAT scores is family income. If you want higher SAT scores, you need to get your kids born into wealthier families. You know, it's great to tell kids to pull themselves up by their own boot straps, but you better put boots on them first.
My rich dad taught me to focus on passive income and spend my time acquiring the assets that provide passive or long term residual income...passive income from capital gains, dividends, residual income from business, rental income from real estate, and royalties.
The solution for rising up kids in the income distributionlies is in creating better childhood environments for kids growing up, especially in low income families. And so what means such things like schools, the quality of neighborhoods. If you think about what's gone on in Baltimore, it's a place of tremendous concentrated poverty. People aren't really seeing a path forward and I think revitalizing places like that can have a huge impact, even in the face of globalization and changes in technology.
Women now make up approximately half of the workforce - very positive. Two-thirds of all families are either headed by a single-head of household or two working parents, and particularly in this economically challenging time, that second income is more important than ever. However, women are still only earning 75 percent of what men are earning.
Instead of a universal basic income, we could have a basic income guarantee. Or, as economists prefer to call it, a negative income tax.
The confidence is really driven by the woman - whether she can have the confidence that there will be enough earning or income to finance all the domestic spending - but also by the middle-income class, which for many Asian countries has become the growth power for the economy.
Whether you're earning income because you have money sitting in the bank or a stock account somewhere, you should be taxed on that income fairly and the same.
The way the [welfare] programs are organized, poor people are only paid to do things that are counter-productive - such as breaking up their families, such as not earning above a certain level of income.
Above a certain level of income, the relative value of material consumption vis-a-vis leisure time is diminished, so earning a higher income at the cost of working longer hours may reduce the quality of your life. More importantly, the fact that the citizens of a country work longer than others in comparable countries does not necessarily mean that they like working longer hours. They may be compelled to work long hours, even if they actually want to take longer holidays.
As income from work has become more concentrated in America, the super rich have invested in businesses, real estate, art, and other assets. The income from these assets is now concentrating even faster than income from work.
American workers deserve a raise. I fully support the push for $15 an hour and a union. We also must raise wages for low and middle income families.
Transfer payments discourage the recipients from earning income in the present and from investing in their potential to earn income in the future. People respond to a reduced cost of idleness by choosing to be idle more often.
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