Tag Archive: 1%ers


At $286K, Members Of Congress Earn A Lot for How Little They Accomplish

 

 

 

 

 

” Congress has just returned from a 5-week recess to a lot of unfinished business—it has yet to send even one of the 12 spending bills due on Sept. 30 to the president’s desk.

  A new report by the Taxpayers Protection Alliance and Our Generation reveals that members of Congress take home a big paycheck for meager results in Washington. At $174,000, members of Congress make more than 95 percent of American income earners. Once generous benefits are added, members’ compensation totals $286,000 per year. And at least one member of Congress argued recently even this generous compensation package wasn’t enough—that Congress also should get a housing stipend.

  Congress’s main job is to budget. But when it comes to passing annual spending bills, members of Congress have not accomplished that in full and on time since 1997. Many were hopeful Congress would use this year’s head start into the appropriations process (Congress agreed on the spending level in December 2013, instead of April 2014) to actually meet the deadlines, but such hope has long given way to resignation. There is simply not enough time left in this fiscal year. “

 

 

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Housing 1% Soars As 99%ers Dive

 

 

Home Sales

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” As the housing recovery now moves in fits and still-weak starts, the super-pricey segment is sizzling. Sales of the most expensive 1 percent of homes in the U.S. are up 21 percent this year, according to a report from Redfin, a Seattle-based real estate brokerage. Sales in the remaining 99 percent are down 7.6 percent.

” There are haves and have nots, and the haves are the ones out buying,” Redfin CEO Glenn Kelman said.

  Ten local housing markets have seen sales growth above 50 percent this year, not surprisingly the top three in tech-heavy Northern California. Long Island, home to the hoity-toitiest Hamptons homes, has seen sales up 72 percent, and Seattle and Miami aren’t far behind.

” The stock market had a record year and now it’s begun to plateau, and so you see people moving their money out of the equity market and into the housing market,” said Kelman.”

 

 

More here

 

 

 

 

 

 

 

 

 

 

62 Percent Of Americans Say They Favor A Flat Tax

 

 

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” The latest Reason-Rupe poll asked Americans if they would support or oppose changing the federal tax system to a flat tax, where everyone pays the same percentage of his or her income, finding that 62 percent favor the flat tax and 33 percent are opposed. When asked where they would set the flat tax, the average response was 15 percent.

  This reflects another recent Reason-Rupe poll finding that 67 percent of Americans say it is “not the responsibility of the government to reduce the differences in income between people with high incomes and those with low incomes,” while 29 percent say it is.

  Strong support for a flat tax extends across income groups (62 percent) among those making less than $30,000 a year and 73 percent among those making more than $110,000 a year. Similarly across education groups and age groups, 6 in 10 say they support the flat tax.”

Contrary to media memes and their class-warfare compatriots on the Left , the rich do pay a higher percentage of taxes …

” Urban Institute data reports that in fact, the wealthy do pay a higher tax rate than the middle class. Average effective federal tax rates in 2011, as a percentage of adjusted gross income find the following (after tax credits):

Lowest Income Quintile: -5.8%

Second Quintile: 1.3%

Middle Quintile: 9.2%

Fourth Quintile: 12.9%

Top Quintile: 20.6%

The “1 Percent” pay 25.3%” “

Reason has more

Warning: Language 

Superstorm Sandy hits Fairfield County

“Democrats won’t disclose donors to Charlotte convention”

  “Interested in finding out who is underwriting the Democratic convention this year? Good luck :
Democratic Party officials say they will not release the names of donors to next month’s political convention before the event, despite an earlier pledge that they would regularly disclose the contributors.”