Welcome to the end of the week and another edition of Happy Hour! Just sit back, relax, and enjoy your end of the week roundup of all things interesting in the land of money.
The Tax Foundation released its summary of federal income tax data. It’s a jumble of tables, numbers and percentages that show a major issue – income stagnation. Even though income and taxes increased for the year in question.
Over the past decade, income has been relatively stagnant. Meaning it just kept up with inflation, nothing more. Which you can speculate as a contributing factor to the excessive debt taken out during that same period. Which isn’t a good thing. Our economy requires two things to grow – lower unemployment and higher wages. The former is slowly improving, the latter needs some help.
Charlie Rose interviewed Warren Buffett and Carol Loomis this past Monday. The first few minutes Warren pushes his higher taxes agenda. But it gets better after, covering past and present topics. As usual, it’s a 54 minute lesson filled with a wealth of insight for anyone looking to invest. One thing to note, after the dismal topic above, even Warren believes the economy is getting better. Continue Reading…