Quotes About Income

being a well-educated, high-income earner does not automatically translate into financial independence. It takes planning and sacrificing. What

In all three cases, the person makes a higher income than does Mrs. Rule. Yet none is a millionaire. In fact, Mr. Petersen, the marketing manager, has zero invested in stocks. He never invests any of his income. But he lives in a $400,000 home that is surrounded by others in the high-tech field who have big hats and bigger mortgages, but no cattle. Too many high-income/low-net worth types live from paycheck to paycheck, fearing a sudden downturn in our economy. OUR

TABLE 3-3 INCOME AND WEALTH CONTRASTS 2:

You will never become financially independent without purchasing investments that appreciate without income realization.

costs of this so-called deal in time and effort? Most high-income generators, whether they are PAWs or UAWs, work more than forty hours a week. Typically, the amount of time remaining each week is allocated in ways that are congruent with their goals. All

Never spend your money before you have earned it.

As in the general society, fertility tends to be greatest where people are poorest: "The rich get richer, and the poor have children." In

The welfare state contributes to this disparity by (1) reducing the need for people at the bottom to earn income and (2) by penalizing their earning of income, since higher income leads to a reduction in eligibility for government benefits.

Among college-educated, never-married individuals with no children who worked full-time and were from 40 to 64 years old—that is, beyond the child-bearing years—men averaged $40,000 a year in income, while women averaged $47,000.

The civil rights vision relies heavily on statistical "disparities" in income and employment between members of different groups to support its sweeping claims of rampant discrimination.

At various times and places, particular individuals have argued that existing tax rates are so high that the government could collect more tax revenues if it lowered those tax rates, because the changed incentives would lead to more economic activity, resulting in more tax revenues out of rising incomes, even though the tax rate was lowered.

Back then, the rule of thumb was that housing costs—whether rents or mortgage payments—should not take more than one-fourth of a person's income. In 1901, housing costs took 23 percent of the average American family's spending. By 2003, it took 33 percent of a far larger amount of spending.

In contrast to times past when low-income people lived packed into overcrowded housing, Americans living below the official poverty level today have more housing space per person than the average European— not poor Europeans, but the average European.

What actually followed the cuts in tax rates in the 1920s were rising output, rising employment to produce that output, rising incomes as a result and rising tax revenues for the government because of the rising incomes, even though the tax rates had been lowered.

Put differently, how much of male-female differences in income has been due to employer discrimination and how much to other differences arising from social restrictions or other factors is a question rather than a foregone conclusion. Many social restrictions, especially in the past, have been based on attempts to forestall problems growing out of the attraction of the sexes for one another.

A third major premise of the civil rights vision is that political activity is the key to improving the lot of those on the short end of differences in income, "representation" in desirable occupations or institutions, or otherwise disadvantaged.

In Hawaii, the most generous state, an unemployed single mother with two children has been eligible for welfare benefits worth more than $49,000 a year.

Table 6.1 Median Family Income of Ethnic Groups in the United States, Ranked by Percentage of the National Average, 1969 Jewish 172% Japanese 132% Polish 115% Chinese 112% Italian 112% German 107% Anglo-Saxon 105% Irish 103% National Average 100% Filipino 99% West Indian 94% Cuban 80% Mexican 76% Puerto Rican 63% Black 62% Indian (American) 60%

All paid 10% no matter what they earned."30 And he declares his "growing personal conviction" that "if there is not a change to a flat tax soon, citizens who are now both on government subsistence programs and paying no income tax should have the privilege of voting curtailed until their case proves otherwise.

How is it that a solid work ethic is not an adequate defense against extreme poverty?

The U.S. Department of Housing and Urban Development (HUD) deems a family that is spending more than 30 percent of its income on housing to be "cost burdened," at risk of having too little money for food, clothing, and other essential expenses. Today there is no state in the Union in which a family that is supported by a full-time, minimum-wage worker can afford a two-bedroom apartment at fair market rent without being cost burdened, according to HUD.

In early 2011, 1.5 million households with roughly 3 million children were surviving on cash incomes of no more than $2 per person, per day in any given month.

Already in 2001, 63 percent of very low income households were putting more than half their income toward housing, leaving too little for other necessities. As of 2011, that figure stood at nearly 70 percent. What

For example, "the richest Americans, those earning more than $ 10 million annually, reported levels of personal happiness only slightly greater than the office staffs and blue-collar workers they employ.