DID YOU KNOW?
Top Headlines: Delivered by Leonard Steinberg
September 06, 2023
01 The top one percent of earners paid about 42% of the income tax revenue in the US, accounting for 10% of the government’s total federal tax revenue. Californian one percenters paid 16.13% of the national income tax, while New York’s paid 8.34%, Texas' paid 7.85% and Floridians paid 7.58%.
(YAHOO)
02 New home sales, a government measure based on contract signings, increased in July to the highest seasonally-adjusted level since February 2022.
(BARONS)
03 According to U.S. Energy Information Administration (EIA) statistics, U.S. building sector operating emissions fell in the first half of 2023 by about 8.4 %, or 78.8 million metric tons CO2, compared to the same time last year.
(ARCHRECORD)
04 In Miami Beach over the 3 months to June, 2023, the average discount for a home purchased in cash for between $2m and $5m was 8.1%, up from 5.2% a year earlier.
(FT)
05 Since March 2020, the interest rate on federal student loans was set to zero. That ended yesterday. Now borrowers will see their loans return to their pre-pandemic rates, typically between 3% and 7%. The typical monthly student loan bill is around $350. That's $350 less to spend on other things. At the end of 2022, the Federal Reserve reported that roughly 43.6 million Americans have student loan debt, which totals over $1.7 trillion.
If each borrower has an average $350/month payment, that totals roughly $15 billion per month not being spent in the economy.... Each borrower owes an average of $37,717.
(CNBC)
