Archives for January 2013

California has highest tax rates in U.S. for wealthy, thousands relocating

Due to the passage of Proposition 30 last November, the state of California now has the highest top marginal tax rates for those deemed to be “wealthy.” For individuals earning $1 million or more, the tax increased from 9.3 percent to 12.3 percent, … [Read more...]

Study finds 44% of Americans are one financial emergency away from household collapse

Corporation for Enterprise Development released an interesting report this week that highlights how bad households are when it comes to their finances. It concluded that nearly half (44 percent) of American households do not have enough savings and … [Read more...]

Canada’s household spending on goods, services hits $55,151 average

Statistics Canada published a new study that found the nation’s households spent on average $55,151 on goods and services in 2011, up from 2.7 percent in 2010. The statistics agency said that 27.6 percent accounted for shelter, 20.4 percent was … [Read more...]

U.S. still headed toward economic collapse as debt to grow 200% of GDP

Following the recent fiscal cliff deal between the Republican leadership and the White House, the United States long-term fiscal outlook still remains troublesome as new analysis suggests the national debt will head toward 200 percent of its … [Read more...]

Texas Governor wants state to return unspent money to taxpayers

Here is a bit of good news for Texas taxpayers and perhaps even taxpayers from around the world. Texas Republican Governor Rick Perry plans to use his State of the State Address to propose amending the Texas Constitution to allow the government to … [Read more...]

Friedrich Hayek: ‘The concept of just is not applicable to society’

A near 30-minute interview of Bernard Levin speaking with Austrian Economist Friedrich Hayek regarding justice, liberty and the misconceptions of economics. It's a very interesting interview and just as compelling as Hayek's interviews with William … [Read more...]

U.S. celebrates 100th anniversary of the income tax on Feb. 3

The United States is embarking on a 100th anniversary of the 16th Amendment that allows the Congress to levy an income tax. The U.S. has repeatedly attempted to implement an income tax throughout its history prior to the ratification on Feb. 3, 1913, … [Read more...]

Report finds 37% of college graduates in jobs that only need high school diploma

Economic Collapse News has reported on the dangers and costs associated with post-secondary education. There have been reports that more than 5,000 PhDs are working as janitors, while some students are turning to stripping or sugar daddies. A new … [Read more...]

New York City soda ban will hurt minority-owned businesses: report

CNN published a report Friday that notes New York City's ban on sodas more than 16 ounces will hurt minority-owned small businesses. The article cited the NAACP and the Hispanic Federation, which are supporting the American Beverage Association's … [Read more...]

Americans expected to save less in 2013 economic collapse due to tax hikes

The fiscal cliff deal, otherwise known as the American Taxpayer Relief Act of 2012 (ATRA), debate that transpired this month between President Barack Obama and the Republican leadership generated a lot of media buzz regarding taxes and spending. The … [Read more...]