Quotes About Income

According to the Commerce Department, employee pay is down to the smallest share of the economy since the government began collecting wage and salary figures data in 1929. Meanwhile, corporate profits now constitute the largest share of the economy since 1929. In

The richest 5 percent of Americans spend only about half of what they earn, which isn't surprising. Being rich means you've got just about everything you want and need.

It's scandalous that the four hundred richest Americans should pay an average of 17 percent tax on their incomes, a rate lower than that paid by many in the middle class.

In the half century spanning 1958 to 2008, the average effective tax rate of the richest 1 percent of Americans—including all deductions and tax credits—dropped from 51 percent to 26 percent.

During the same period the typical middle-class taxpayer went from paying 15 percent of income in taxes to 16 percent.

Fifty years ago, when General Motors was the largest employer in America, the typical GM worker earned $35.00 an hour in today's dollars. By 2014, America's largest employer was Walmart, and the average hourly wage of Walmart workers was $11.22.

The problem was not that Americans spent beyond their means but that their means had not kept up with what the larger economy could and should have been able to provide them. the American economy had been growing briskly, and America's middle class naturally expected to share in that growth. But it didn't. A larger and larger portion of the economy's winnings had gone to people at the top.

The simultaneous rise of both the working poor and non-working rich offers further evidence that earnings no longer correlate with effort.

It's no mere coincidence that over the last century the top earners' share of the nation's total income peaked in 1928 and 2007—the two years just preceding the biggest downturns.

Yet the notion that you're paid what you're "worth" is by now so deeply ingrained in the public consciousness that many who earn very little assume it's their own fault.

The tax cuts enacted in 2001 and 2003—and extended for two years in 2010—in 2011 saved the richest 1.4 million taxpayers (the top 1 percent) more money than the rest of America's 140.89 million taxpayers received in total income.

For three decades almost all the gains from economic growth have gone to the top. In the 1960s and 1970s, the wealthiest 1 percent of Americans got 9–10 percent of our total income. By 2007, just before the Great Recession, that share had more than doubled, to 23.5 percent. Over the same period the wealthiest one-tenth of 1 percent tripled its share. We haven't experienced this degree of concentrated wealth since the Gilded Age of the late nineteenth century.

There are several ways in which to apportion the family income, all of them unsatisfactory.

Using the official $1 per day line, we estimate that [from 1970 to 2006] world poverty rates have fallen by 80 percent.

More important, such events share a second feature, one that is absent from an increase in taxes: they reduce our own incomes while leaving others' incomes unaffected. Higher taxes, in contrast, reduce all incomes in tandem. This difference holds the key to understanding the mother of all cognitive illusions.

When it comes to money, the only skill most people know is to work hard.

To obtain financial freedom, one must be either a business owner, an investor, or both, generating passive income, particularly on a monthly basis.

When a person says, I need to find a job, it's most likely an emotion doing the thinking. Fear of not having money generates that thought. Fear is all too often doing the thinking. Will a job be the best solution to this fear over the long run? No. A job is a short-term solution to a long-term problem. People make the recommendation of a job out of fear.

cuando echas a andar tu propio negocio con base en casa, muchos de los gastos que antes eran personales –gastos después de impuestos–, se convierten de inmediato en gastos de negocio antes de impuesto.

Los ricos no trabajan para obtener dinero, sino para adquirir activos que generen flujo de efectivo.

los impuestos pueden llegar a ser tu mayor gasto.

Si tu ingreso es bajo, seguramente tú o tu negocio no están vendiendo.

tienes que saber la diferencia entre un cheque de nómina y el flujo de efectivo porque, en lo que se refiere a la educación, son conceptos opuestos.

La educación financiera te enseña a adquirir activos que generan flujo de efectivo.