Households finance 100 of transfer payments to bottom 60 as well as almost 100 of tax revenue used to run entire federal post. What is going on here in your view . Well we hear all the time how the rich are not paying their fair share. So when i looked at this report which is released annually, this report is 2011 data, i dug into some of the details, what i was able to show that they break the households down by income equipment tiles. What i was able to show quintiles. Bottom 60 of the american households by net income are net recipient and receive more in government transfer payments than pay in federal taxes. Fourth income quintile, pays highest, break even. Pay as much in federal taxes as they get in government transfers. It is top income quintile, households in america with average income of about 234,000 that it is that group that pays in 48,000, about 46,500 more in federal taxes than they receive in transfer payments. So that is really the, the main net payer quintile. So they
Pressures continue to weigh on the manufacturing sector. Unveils a radical plan to undate the Monetary Policy . And has reignited . Unveiling the most sleek phone yet and makes a play into the mobile space. And the eurozone pmi data has just broken. It come in 51. 0 for february. That is just in line with what was in january. 51. 0 fractionally below expectations in 51. 1. Germanys pmi came in at 51. 1. Slightly up from january 50. 9. We had italy and spain earlier today both of which were solid and strong new order components. All in all the data pretty positive. The eurozone number has come in 51. 0 basically in line where it was expected. You see the euro dollar strengthened a bit. Its at session highs. It was flat for the day and now session highs. Weve had some italian jobless data, which just looking for as well. Its come in well ill bring you up it has come in. 12. 6 . The forecast was 12. 9 . So that has come in better than expected. Theyve fractionally revised decembers data.
Weve seen a lately last hour selloff in this market. And we wonder if that will happen today on a month when this is usually the best month of the dow. Its been a forgetful month. But not for the Corporate Bond market. Pace record is being set and broken. Well see if that brings out the buy the dip. Interest rates are still historically very low. Its very cheap to borrow money for corporations right now. Weve got a lot of Market Information to get to over the next hour or so here. In a down market, this stock is bucking the trend. Dont look now but apple is surging again. Its now north of 550 and climbing. A ton of news driving it. Take a look. If theres still time to buy the stock at these levels. You could have gotten 100 more cheaply. More people bought it last year at 750. Theyre waiting for it to get back to that level. Saying pretty please. Also, very serious story out of motor city. Detroit is now broke city. A judge ruling a little a few hours ago the citys bankruptcy can go fo
Hideout. All that, plus the powerhouse roundtable. And that nobel prize stunner here today. All of you are telling us and all of the evidence coming in this week is proving that point. Government now shut down for at least two weeks. Americans face the risk of default. Right now, hopes for a deal to avert that cat strophe rest with two leaders that havent always been on speaking terms. Starting with abcs chief White House Correspondent jonathan karl. Jon, the president s talks with speaker of the house collapsed friday. This Senate Leader negotiation is the only game in town. Reporter thats right. Its the only game in town. A game thats not going well. The two men are trying to craft an agreement that would keep the government open and postpone default until november 1st. Republicans have given up almost all of the demands that led to this crisis, major changes to obama care are not even on the table right now. But the talks broke down yesterday, over democratic demands from harry reid
Fewer jobs, obviously, in that number. Expected an addin in september. Well break down all the numbers for you. Streaming to alltime highs. Netflix shares poised to open at a record high after blowing through Third Quarter expectations but even Ceo Reed Hastings voices a few words of caution about the stock price. Cramer that will run through the stocks that are key to your portfolio. And a new battle in the tablet wars. Meanwhile nokia launching a new tablet and apple releaseding surface two. Terrific. The september job numbers have been repleased, thats below forecast but august job gains were revised higher. Unemployment was low wheel the labor rate Participation Rate did remain unchanged the quarterly average, 103, 207 before that, 2 9 before that. Private sector is putting on the brakes. Interest rate back to 2. 05. Thats really amazing. The big spikes, 2. 8, 2. 9, that turned out to be a became. Interest rates are back to where maybe housing gets reignited. Im not sure. How does