Tag: personal-finance

  • Passing the Buck: Why We Pay More But Make LessPart 5: The Auto Trap

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    Forced to Buy What You Can’t Afford Jennifer lives in Phoenix, Arizona. She’s a single mom with two kids, works as a pharmacy technician, makes $42,000 a year. Her shift starts at 7 AM at a CVS 8.5 miles from her apartment. She doesn’t own a car by choice. She owns a car because there…

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  • Passing the Buck: Why We Pay More But Make Less. Part 4: Credit Cards

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    The Debt Trap Jason is a high school teacher in Arizona. He makes $48,000 a year, which is about what teachers make there. He’s 32, married, has a two-year-old daughter. His wife works part-time as a medical records clerk, bringing in another $22,000. Combined household income: $70,000. They’re not living extravagantly. They rent a two-bedroom…

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  • Passing the Buck: Why We Make Less But Pay More. Part 3: Banking Fees

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    The Poverty Tax Maria works two jobs. Monday through Friday, she’s a home health aide making $15/hour. Weekends, she works retail at Target for $16/hour. Between both jobs, she brings home about $2,400/month after taxes. It’s not much, but she manages. Carefully. On Friday, she deposited her paycheck from the home health agency—$680 for the…

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  • Passing the Buck: Why We Make Less But Pay More. Part 2: The Baseline Shift

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    Part 2: The Baseline Shift How “Basic Survival” Got Redefined as Luxury In 1970, Robert worked as a machinist at a manufacturing plant in Ohio. He made $9,400 a year—roughly the median income at the time. His wife, Linda, stayed home with their two kids. On that single income, they: Robert wasn’t exceptional. He wasn’t…

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  • Passing the Buck: Why We Make Less But Pay More. Part 1: The Impossible Math

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    Part 1: The Impossible Math When Median Income Meets Real Costs, America Fails Meet Sarah. She’s 34 years old, works as a registered nurse at a regional hospital, and makes $77,000 a year. That’s well above the median individual income in America ($59,228). She’s single, no kids, lives in a modest one-bedroom apartment in a…

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  • BrokeCon by Design Part 18: The Rigged Tax Code

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    On October 22, 1986, Ronald Reagan stood on the South Lawn of the White House and signed a tax bill that did something the United States had not done before and has not done since. The Tax Reform Act of 1986 took the top rate on money you make by owning things — long-term capital…

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  • BrokeCon by Design Part 17: The Systemic Theft Of Our Retirement

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    On December 9, 1963, the Studebaker Corporation announced it was closing its main automobile plant in South Bend, Indiana. The company had been building things to ride in since before there were engines to put in them — wagons, in the 1850s — and for the people on the line the pension was not a…

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  • BrokeCon by Design Part 9: Immobility Nightmare: How Three Failed Systems Killed the American Dream

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    The Door Is Already Locked Say you’re thirty-two. You have an idea for a business. Maybe a good one, maybe not, but you want to find out. So you sit down and run the numbers. The first thing that kills it is the healthcare math. Your employer pays most of your premium right now. Walk…

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