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Posts Tagged ‘middle class’

Growing the Middle Class, Where Left-Right-Middle Should Agree

November 2nd, 2017 Comments off

GrowingTheMiddleClassPraegerUYouTubeMHProNewsFor several years, MHProNews has done periodic looks at economic basics that impact the industry. 

Understanding these Economic 101 topics – and sharing it with other professionals – can help the industry and the nation get past decades of economic malaise that’s limited the middle class. 

The current economic disorder spans both Democratic and Republican presidencies – it’s not a partisan issue.

Manufactured housing professionals should all be able to agree that a growing economy that raises incomes in a natural way is a worthwhile goal.

Today’s video is less than three minutes, and focuses on an issue that the Daily Business News documented in some detail.

So, if this video whets your appetite, you can learn more facts behind it at this link here## (News, Analysis, Commentary.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Discarding Fannie Mae and Freddie Mac = A Nightmare

August 12th, 2013 Comments off

While the Republican-led House Financial Services Committee is supporting legislation to totally eliminate Fannie Mae and Freddie Mac from the mortgage business with no government interference , the Democrat-majority Senate Banking Committee says the government needs to be a backstop to make certain borrowers of modest means can continue to obtain financing. Even President Obama, as MHProNews reported here Aug. 7, states the mortgage industry would be better served with more private sector involvement. Meanwhile, as HousingWire reports, Fox News blogger Peter Morici and USA Today both say eliminating Fannie and Freddie would raise the cost of borrowing to a level that would be out of reach of the middle class.

(Image credit: Fotosearch)

Builders want Congressional Support

June 4th, 2013 Comments off

In testimony before the House Energy and Commerce Committee’s Subcommittee on Commerce, Manufacturing and Trade, Rick Judson, Chairman of the National Association of Home Builders, said, “How lawmakers and regulators deal with tax reform, home energy codes and the availability of building materials will go a long way to ensure a robust, long-term recovery for housing and the economy.” Noting the importance to our economy of home ownership, he says while NAHB supports tax reform, any change in policy that makes it tougher for people to become homeowners “Will have a significant long-term impact on household wealth accumulation and the makeup of the middle class as a whole.” As MHProNews has learned, NAHB is also asking building code officials to grant tax credits for building more energy-efficient homes. “Any effort to ease escalating price pressures, help rebuild the supply chain and support a continuing housing recovery is effective economic policy,” said Judson.

(Photo credit: constructionweekonline–Hawthorn Brook Group, Ireland)

Buffett: Wealthy Leaving Middle Class in the Dust

November 27th, 2012 2 comments

In a New York Times op-ed piece, billionaire investor Warren Buffett says its ridiculous to think higher capital gains taxes will prevent the super wealthy from investing their money. He notes in the 1950s when the capital gains rate rose from 25 to 27.5 percent no one complained of not being able to find investment opportunities. He contends complaints from the super wealthy about paying taxes is especially absurd since the Forbes 400 wealthiest Americans made $1.7 trillion this year compared to $300 billion 20 years ago. Noting the 400 highest incomes paid a tax rate of 26.4 percent in 1992, he says that percentage fell to 19.4 percent in 2009, and nearly 25 percent of them paid less than 15 percent. A few paid nothing. In addition to eliminating the Bush-era tax cuts on the wealthy, and raising the cut-off for the minimum tax from the $250,000 that President Obama proposes to $500,000, Buffett suggests a 30 percent tax on incomes from $1 to $10 million, and 35 percent on anything above that. He states the government needs to achieve a better balance in its revenues and expenses, and needs more tax reform. As MHProNews has learned, the bottom line is the super rich will continue to invest regardless of higher taxes. Buffett’s Berkshire Hathaway owns Clayton Homes, the largest producer of manufactured housing in North America.

(Photo credit: Business Insider)

Fewer Entrepreneurs Equals Fewer New Jobs

October 5th, 2012 Comments off

In past years, start-up companies have generated three million new jobs annually, but that number has fallen below 2.5 million since the beginning of the recession. According to CNNMoney, Economist Tim Kane of the Hudson Institute states in the 1980’s and 1990’s 11 jobs were created by start-ups per every one thousand people. That number has fallen to less than eight for each thousand. He says, “The state of entrepreneurship in the United States is, sadly, weaker than ever.” One of the reasons he cites is the requirement by local and state officials for licenses and regulations that especially target lower and middle-class would-be entrepreneurs. In addition, MHProNews has learned, for companies that do not need office staff, taxes and paperwork are less when outsourcing work to freelancers in less developed countries.

(Image credit: eyewitnesstohistory—Henry Ford with first car, the Quadricycle, 1896)