Re: Tithing to the Rich
Yoshie Furuhashi wrote:
Rick Wolff reminds us, as the bankruptcy reform is about to take effect (on Monday):
“For the first quarter of 2005, the Fed announced that the nation’s debt service ratio (debt payments as a percentage of after-tax income) was 13.4%, the highest since the Fed began recording this statistic in 1980.” http://mrzine.monthlyreview.org/wolff151005.html
We are more than tithing to the rich. :-0
Hey it’s up to 13.6% http://www.federalreserve.gov/releases/housedebt/default.htm in the second quarter. And that despite interest rates remaining very low.
Doug