By J. Collins

A Fragile stability examines concepts to advertise emergency mark downs, specially between underserved households.

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Additional info for A Fragile Balance: Emergency Savings and Liquid Resources for Low-Income Consumers

Sample text

2 displays the sample demographics and financial characteristics for the total sample (column 1), including gender, race, education, income, and financial knowledge and behaviors. Note that about 43 percent of respondents report having an emergency fund of three months’ expenses, while 61 percent feel confident they could find $2,000 within 30 days to cover an unexpected expense. 48) Note: Observations (n = 22,970), after (n = 2,039) cases with missing values for variables of interest were excluded.

And because of the exclusion for inheritances (“stepped-up basis”), the son doesn’t have to pay any tax on the inheritance. 5 million in investment income avoids taxes altogether. This is not an uncommon occurrence. The Center on Budget and Policy Priorities has estimated that these unrealized and untaxed capital gains account for more than half of the value of the largest estates (those worth more than $10 million) (Huang and Frentz 2013). Three Tax Policy Alternatives to Boost Savings For a policymaker who believes the federal tax code should encourage all families to save, new policies that go beyond the highest-income families are needed.

1 shows that between 1991 and 2014, the cost of these tax programs for individuals and corporations nearly tripled in size, from just over $50 billion to slightly over $150 billion (in constant 2015 dollars). These programs are estimated to cost about $205 billion in 2019, again in constant 2015 dollars (National Priorities Project 2014). This analysis actually understates to the total growth in cost, as it does not count the forgone revenue from cuts to the estate tax. Distributional Effects Tax programs that boost savings through investments and inheritances benefit the highest-income households—the same households least in need of support to build savings.

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