Americans Receiving Less Income Than Ever From Employer Paychecks
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LOS ANGELES, June 10 /PRNewswire/ -- Direct payday lender, Pay1Day.com - Yet another alarming figure arises in this seemingly never-ending saga of our economic crisis, this time regarding our paychecks, or lack thereof. It seems that Americans everywhere are struggling to tighten up their household budgets and re-adjust their investment strategies, while others are simply struggling to make ends meet. All the while US Senators are attempting to put the finishing touches on a consumer financial protection bill aimed at protecting consumers from another economic meltdown, but according to some recent figures we may be fighting an uphill battle like no other in American economic history.
According to a recent study from USA Today, it seems that the percentage of American's income derived from private business paychecks fell to the lowest numbers in American history, dropping from 44.6% of American's personal income in Dec. 2007 at the start of the recession to 41.9% during the first quarter of 2010. It also seems that the percentage of government benefits have increased to near record levels since the onset of our recession, which has some economists speculating as to the outcome of this increase in funding to government benefit programs, such as unemployment benefits and social security. Some economists argue that this upswing in benefits will ultimately help our economy by fueling consumer spending, while others argue that it will harm our economy in the long-term because these government benefits are not taxable to the same level as business paychecks.See the full content of this document
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Americans Receiving Less Income Than Ever From Employer Paychecks
Although Americans are receiving a smaller percentage of pay...
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