Claim: Millennials are lazy and entitled narcissists. They take for granted what previous generations did for them. Fact: Millennials are maturing into what’s likely the most difficult US economy in which to earn a living wage since pre-New Deal times. Baby boomers for example matured into an economy with more affordable/free college, and quicker access […]
The Middle Class
The Rich Pay “All the Taxes” (Myth)
An article recently surface claiming that the rich pay “all of the taxes.” The reasoning behind the claim: The top 40% pay 109% of the federal income tax (lower income earners actually receive tax credits—hence why the seemingly impossible math, is in fact possible). The obvious problems here: The bottom 60% (actually, the bottom 80% […]
Income Disparity and the Middle Class: A few Myths and Misconceptions
As noted countless times in this blog, the shift to a more supply-side (aka Reaganomics/trickle down economics) economy has not led to a stringer middle class. The disparity in wealth and income between the top 1% and everyone else (especially the bottom 4 quintiles) has only widened and left many of the lower quintiles barely […]
California Minimum Wage vs Community College Unit Cost
Community colleges have traditionally offered an excellent opportunity for students from lower income households and have served as a bridge to 4-year Universities. So it’s interesting to note how the cost of community college units in California have far outpaced the state’s minimum wage. It’s important to note that CA has one of the highest minimum […]