Tag Archives: chart-on-the

Home Buyers Are Paying a $600 Trump Tax on New Mortgages

Mother Jones

<!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.0 Transitional//EN” “http://www.w3.org/TR/REC-html40/loose.dtd”>

Matt Yglesias tweeted yesterday about mortgage interest rates going up after the election, and that got me curious about just how quickly they spiked upward after we all learned that Donald Trump would be our next president. The chart on the right shows the answer: pretty darn quickly.

On November 8, the average 30-year fixed mortgage was available at a rate of 3.53 percent. Within two days it had gone up 21 basis points, and within a week it had gone up 43 basis points. Adjustable mortgages spiked upward too, though not as dramatically, and both rates continued to drift upward until December 14. Then they spiked upward again thanks to the Fed’s decision to increase interest rates.

So what does this mean for your ordinary working-class joe who voted for Trump? Well, for a 30-year fixed mortgage on a $200,000 loan, the monthly payment has increased from about $900 to $950. That’s an extra $600 per year.

Generally speaking, this spike was due to the fact that everyone panicked after Trump won, causing treasury bond yields to jump 35 basis points in a week. More specifically, however, is it due to China selling US treasuries in greater quantities than usual? Maybe! But whatever the cause, if you waited until after the election to buy a house, you’re paying a pretty stiff Trump penalty.

Originally from – 

Home Buyers Are Paying a $600 Trump Tax on New Mortgages

Posted in Everyone, FF, GE, LG, ONA, Uncategorized, Venta | Tagged , , , , , , , , , , , | Comments Off on Home Buyers Are Paying a $600 Trump Tax on New Mortgages

Chart: As Top Tax Rates Dropped, Top Incomes Soared

Mother Jones

<!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.0 Transitional//EN” “http://www.w3.org/TR/REC-html40/loose.dtd”>

We’re still posting a new chart on the current state of income inequality every day over the next week. Yesterday’s looked at how the top 1 percent of Americans have captured half of all income.

Today, let’s talk taxes. In the past few years, we’ve heard a lot about overtaxed “job creators” and freeloading “takers.” But consider this: As the income rates for the wealthiest have plunged, their incomes have shot up.

Source: Tax rates: The Tax Foundation; top incomes: Emmanuel Saez and Thomas Piketty (Excel)

Illustrations and infographic design by Mattias Macklerâ&#128;&#139;

Link:  

Chart: As Top Tax Rates Dropped, Top Incomes Soared

Posted in Anchor, FF, GE, LAI, LG, ONA, Radius, Uncategorized, Venta | Tagged , , , , , , , , | Comments Off on Chart: As Top Tax Rates Dropped, Top Incomes Soared

Chart: You’re Working More But Earning Less

Mother Jones

<!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.0 Transitional//EN” “http://www.w3.org/TR/REC-html40/loose.dtd”>

We’ll be posting a new chart on the current state of income inequality every day for the next couple of weeks. Yesterday’s chart looked at the history of the 1 percent, from ancient Rome to today.

Today, another look at how middle-class incomes have been stuck in neutral while the rest of the economy has grown. In 2012, the median household income (adjusted for inflation) was the same as it was in 1996.

Sources: Household income: US Census; economic growth: St. Louis Fed; 1 percent: Emmanuel Saez and Thomas Piketty (Excel); corporate profits: St. Louis Fed

Illustrations and infographic design by Mattias Macklerâ&#128;&#139;

Read this article – 

Chart: You’re Working More But Earning Less

Posted in Anchor, FF, GE, LAI, LG, ONA, Radius, Uncategorized, Venta | Tagged , , , , , , , | Comments Off on Chart: You’re Working More But Earning Less