Money
The Great Recession: Gen X Rebounds as the Only Generation to Recover the Wealth Lost After the Housing Crash
Few American homeowners were spared from the broad housing collapse a decade ago, but Generation Xers were hit particularly hard. Newer to the housing market, more likely to be buying at peak prices and taking on more mortgage debt to buy their homes, they lost more wealth than other generations. But a new Pew Research Center analysis of Federal Reserve data finds that Gen Xers are the only generation of households to recover the wealth they lost during the Great Recession. more »
Census Bureau Research: Shhh….I Make More than My Husband: Spouses Report Earnings Differently When Wives Earn More
When wives earn more than their husbands do, a puzzling thing can happen: Husbands say they earn more than they are and wives underreport their income. New Census Bureau research shows that the incomes couples report on Census Bureau surveys do not always match their IRS filings. The Census Bureau is working to improve the quality of reported earnings by comparing an individual’s survey response with their reported response from another source.
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The Impact of Trade and Tariffs on the United States Key Findings From the Tax Foundation; Steve Rattner Charts
"The Trump administration has enacted tariffs on imported solar panels, washing machines, steel, and aluminum, plans to impose tariffs on Chinese imports, and is investigating further tariffs on Chinese imports and automobile imports. • The effects of each tariff will be lower GDP, wages, and employment in the long run. The tariffs will also make the US tax code less progressive because the increased tax burden would fall hardest on lower- and middle-income households. • Rather than erect barriers to trade that will have negative economic consequences, policymakers should promote free trade and the economic benefits it brings." more »
Millennial Marriage: How Much Does Economic Security Matter to Marriage Rates of Young Adults
A working paper entitled “Millennial Marriage: How Much Does Economic Security Matter to Marriage Rates of Young Adults” finds that socio-economic indicators associated with labor force participation, wages, poverty and housing all relate to marriage rates for young adults ages 18 to 34. Specifically, full-time employment, median annual wages for all types of workers, and owning a home were associated with higher marriage rates. more »