See the share of Americans’ income that comes from government benefit programs.

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The way annuities are sold is costing half a million retirees each year as much as £1bn in future pension income, the National Association of Pension Funds says.

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Annuity sales ‘unfair and opaque’

If that end-of-the-year bonus didn’t send your household earnings well north of half a million dollars, you can’t count yourself among the elite 1 percent of Washington’s high earners. It took a household income of almost $520,000 to make it into the top tier in the Washington region, according to a new analysis of census data. Some high earners might ask: What recession? In 2007, the cutoff point for the top 1 percent was $517,000. Read full article > >

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What it takes to be a 1 percenter in the Washington area

Chrysler also reported net income of $183 million for 2011 and said its annual revenue increased 31 percent, to $55 billion.

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Chrysler Posts $225 Million Profit, Capping Turnaround

Mitt Romney offered a partial snapshot of his vast personal fortune late Monday, disclosing income of $21.7 million in 2010 and $20.9 million last year — virtually all of it profits, dividends or interest from investments. Read full article > >

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Mitt Romney’s tax returns shed some light on his investment wealth

Paid $990,000 on income of $3.1 million.

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Gingrich Releases 2010 Taxes

IRMO, S.C. — Mitt Romney came under increasing pressure Wednesday to release his income tax returns immediately, rather than waiting until April, in an effort to contain the damage caused by his stumbling responses over two days. Read full article > >

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Mitt Romney faces mounting pressure to release tax returns now

D.C. housing officials have routinely subsidized home purchases that low-income buyers could not afford, paving the way for foreclosures, liens and financial hardships. Nearly one in five buyers participating in the city’s 35-year-old loan program for first-time homeowners is behind on mortgage payments, city officials said — a default rate that’s at least three times higher than the overall rate in the region. Nearly 50 buyers have received notices of foreclosure in recent years, while more than 50 others have struggled with homeowner association or utility liens, The Washington Post has found. Read full article > >

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In D.C. loan program, mortgage defaults abound

As Mitt Romney edges closer to the Republican presidential nomination, the imperative grows for the former Massachusetts governor to release his income tax returns and disclose the identities of the fundraising bundlers who have brought in millions for his campaign. Mr. Romney’s determined lack of transparency on these two fronts — the candidate and his campaign have said he has no plans to release either — represents a striking and disturbing departure from the past practice of presidential candidates of both parties. Read full article > >

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Editorial Board: Why won’t Romney release his tax returns?

People about to retire this year expect their pensions to be lower than retirees in the previous four years, with a fifth expecting incomes of less than £10,000.

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New retirees expect lower incomes

Many older unemployed people — nearly two million over age 55 — must make tough decisions about how to make up for lost income.

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Your Money: Laid Off, With Retirement Almost in Sight

Low income families are being exploited by so-called rent-to-own deals on household appliances, a children’s charity warns.

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Rental deals ‘morally bankrupt’

Over at the Wall Street Journal, Phil Izzo reports that some $41 billion worth of gift cards have gone unused since 2005. So what, exactly, happens to that money? After all, retailers aren’t allowed to report the cash used to buy gift cards as income until the cards are actually redeemed. So there’s a murky area that arises when a gift card just gathers dust in a drawer for years, lost and forgotten: Read full article > >

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How your Best Buy gift card ends up in New York’s bank account

Rarely has the financial divide appeared so wide, or the public contrast so stark, between lawmakers and those they represent.

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Economic Downturn Took a Detour at Capitol Hill

Disposable incomes of UK households have fallen for the fifth year in a row, research by the Bank of England suggests.

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Bank: Incomes fall for fifth year