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%.
02 New home sales, a government measure based on contract signings, increased in July to the highest seasonally-adjusted level since February 2022.
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.
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.
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.