Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
SpaceX Launches Robotic Cargo Mission to Space Station (Mike Wall, Space.com) The private space company, SpaceX, successfully launched its third cargo mission the the International Space Station this week This mission is delivering a humanoid robot to aid astronauts living and working on the space station. The mission has an auxiliary experiment to see if first stage rockets can be recovered and reused.
Obama's tax return: Did he overpay? (Jerry Lynch, CNBC) Hat tip to Marvin Clark. Probably. The Obamas paid $149,373 in federal, state and local taxes for 2013. According to the numbers Lynch discussed, proper tax planning might have reduce that to as little as $96,000 or $97,000. In addition because they have retained ownership of their Chicago home since the first term inauguration, after 8 years they will probably have spent an additional $600,000 to $800,000 (above and beyond taxes) by the end of a second term compared to selling after the 2008 election.
Real estate prices beginning to drop across inland China (Masahiro Okoshi, Nikkei Asian Review) Examples are given of price slashes on 30% for nearly empty luxury condo developments. Home sales volume for the first quarter fell by 7.7% year-over-year but the article does not give price changes for the quarter. Last year home prices surged by 26.6%. China is curtailing growth of the money supply, currently up 12% year-over-year, the slowest growth in 13 years.
Today there are 9 articles discussed 'behind the wall'.
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5 Things To Ponder: Income Inequality (Lance Roberts, StreetTalk Live, Advisor Perspectives dshort.com) Lance Roberts contributes a weekly article to GEI Investing. Lance reviews five articles with analysis and discussion on income distribution.
How Much Do Federal Taxes Redistribute Income? (Catherine Mulbrandon, Visualizing Economics) Catherine Mulbrandon has contributed to GEI. The share of after-tax income is lower for the top 20% than is the share before-tax. The bottom 80% all gain income share after taxes are applied.
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