The law-firm bonus indicator: a big decrease from 2008.
Barry Ritholtz on the dismal "science" of the dismal science.
And The American Scholar has a fascinating look at the personal finances of F. Scott Fitzgerald. As the author notes, when comparing income levels from different decades, a CPI-based adjustment doesn't yield an accurate result, as it ignores effective income tax rates. Fitzgerald was in the 1% of wage earners for most of his working life, yet paid an effective tax rate of just 5.5%. While Fitzgerald's $24,000 annual income translates into $500,000 in today's dollars, he could afford a better lifestyle than someone earning that salary today. |