by Kevin Schofield
This week’s “long read” is a research report from the Economic Innovation Group looking at Americans’ different sources of income and in particular focusing on the one most closely tied to wealth: income from assets.
The report categorizes income into three types: “transfers” such as Social Security, Medicare, unemployment insurance, and food stamps; wages and earnings; and income from assets. An asset can be a financial investment such as stocks and bonds, but it can also be the housing that a landlord rents out, an apple orchard generating produce, or a manufacturing plant used to create goods.
Over the past fifty years, there has been a steady shift in the sources of personal income from Americans. In 1969, 77% of income was from wages and earnings; as of 2019, it was only 63%. Income from assets, however, has grown from 15% to 20%.
Continue reading Weekend Long Reads: Asset Income
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Morning Update Show — Wednesday, May 26
LIVE — Port Commissioner Calkins | Income, Generational Wealth, Education — The Big 3 | Economics in the Black Community | Mayor to Update Vaccination Policies | Amtrak Is Back on Track | Morning Update Show at Night!
Continue reading The Morning Update Show — 5/26/21