I don’t really care who got it, just so it wasn’t the government.
The BEA Personal Incomes and Outlays Report shows disposable personal income rose by $71.7 billion in May.
That in an inflationary-looking jump of 0.4% percent. But inquiring minds are asking some important questions, like …
Who Got Da Money?
|Personal Income Jumps $71.7 Billion: Who Got Da Money?|
|Category||Monthly Increase in Billions of Dollars||Percent of Total Increase|
|Wages and Salaries||6.6||9.21|
|Employer pension contributions||3.2||4.46|
|Personal Interest and Dividend Income||39.8||55.51|
|Social Security, Medicare, Medicaid, etc.||3.8||5.30|
|Alleged Tax Cuts||4.6||6.42|
When it comes to consumer spending, it’s not the jump in income that matters it’s how that income is distributed. For example, if Bill Gates got all of it, consumers would not spend additional dime without going further into debt.
The numbers are not nearly as bad as my…
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