The realtor.com data team set out to find the markets with the highest share of homes that a middle-income family could reasonably afford to purchase. Lance Lambert, provided by Published 5:00 am CST, Monday, November 12, 2018 Photo: IStock; Realtor.com Photo: IStock; Realtor.com Image 1 of / 1 Caption Close Image 1 of 1 Photo: IStock; Realtor.com 10 Surprising Cities Where a $60K Middle-Class Salary Can Snag a Sweet Home 1 / 1 Back to Gallery Can America's stressed-out, fought-over, cash-strapped middle class still afford to buy homes? That's the megamillion-dollar question these days. Because while the economy is strong and wages are rising, these gains are being left in the dust by runaway home prices. Combined … [Read more...] about 10 Surprising Cities Where a $60K Middle-Class Salary Can Snag a Sweet Home
Middle class house design
WASHINGTON - President Obama's health care law would let several million middle-class people get nearly free insurance meant for the poor, a twist government number crunchers say they discovered only after the complex bill was signed. The change would affect early retirees: A married couple could have an annual income of about $64,000 and still get Medicaid, said officials who make long-range cost estimates for the Health and Human Services department. After initially downplaying any concern, the Obama administration said late Tuesday it would look for a fix. Up to 3 million more people could qualify for Medicaid in 2014 as a result of the anomaly. That's because, in a major change from today, most of their Social Security benefits would no longer be counted as income for determining eligibility. It might be compared to allowing middle-class people to qualify for food stamps. Boehner: 2012 elections will say "a lot" about health care systemReport: Prescription meds misuse rampant, … [Read more...] about CBS News Logo Health care quirk grants middle-class Medicaid
Last Updated Nov 11, 2010 11:42 AM EST Obama's signature tax cut for middle class -- titled Making Work Pay -- expires at the end of this year. Republicans show no interest in renewing it. As a result, working-class and middle-class earners will pay a bit more in taxes in 2011, even if the Bush-era tax cuts are left in place. This was the Rodney Dangerfield tax cut -- it got no respect. Voters didn't remember it. Republicans want to endorse Bush's tax cuts, not anything that Obama did. Extending Make Work Pay would cost $600 billion over 10 years. That's a big ticket, but less than the $700 billion it costs to extend tax cuts for the rich. No matter. When the rich get richer, it's better for American workers -- just ask Kentucky Senator-elect Rand Paul. only an estimated 20 percent was spent on goods and services. The rest was saved or used to pay down debt. Those are two smart uses of a windfall check, but they didn't do much to slow the plunge into recession. Obama's tax cut was … [Read more...] about Obama’s Middle-Class Tax Cut (Yes, The One You Never Heard Of) May Expire
Chief White House economic adviser Gary Cohn on Thursday said he "can't guarantee" taxes won't go up for some middle-class families, even though he said the White House's new tax proposal is "purely aimed at middle-class families." "I can't guarantee anything. You can always find a unique family somewhere," Cohn told ABC's George Stephanopoulos in an interview that aired on "Good Morning America," noting a family of four earning $55,000 could expect to see a tax decrease between $650 and $1,000, but acknowledging there are always exceptions to any rule. Cohn later dodged a pointed question from Stephanopoulos as to whether he could guarantee President Trump wouldn't see a tax cut under the plan, instead saying the plan is aimed to benefit the country as a whole. Mr. Trump has declined to release his tax returns, so it's difficult to judge how the plan would affect him exactly, but he is likely to benefit from the proposed elimination of the Alternative Minimum Tax and … [Read more...] about CBS News Logo Gary Cohn “can’t guarantee” middle-class families won’t pay more taxes
In America, the middle class has failed to enjoy the same growth in income as the country's top 1 percent of earners. But what would have happened if every household on Main Street had enjoyed the same income growth as the country's top 1 percent? The result: the typical American middle-class household would be earning $156,318, or more than double its actual current average household income of $73,391, according to data from the left-leaning think tank Economic Policy Institute. (The EPI considers the middle class to between 20 percent to 80 percent of the country's income range.) Some might scoff at the unlikelihood of the typical middle-class American household earning that much, but the calculation is designed to underscore how the fortunes of the country's top 1 percent have deviated so drastically from everyone else's. While it's not a new phenomenon, since the top 1 percent started to pull away from the rest of America's earners in 1980, that pattern has only accelerated. The … [Read more...] about What if the middle-class kept up with the top 1 percent?