Keyword: income

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  • The Real Story Behind "Rising" U.S. Income Inequality

    10/27/2011 9:27:46 AM PDT · by Kaslin · 12 replies ^ | October 27, 2011 | Political Calculations
    Why is income inequality rising for U.S. families and households, but not for individual Americans? Having now shown that there has been absolutely no significant change in the level of inequality among U.S. individual income earners from 1994 through 2010, we thought we'd take a step back and look at the data for U.S. families and for households to examine those trends over time. The chart below shows what we find for each grouping of Americans according to their Gini Coefficient, where a value of 0 indicates perfect equality (everyone has the same income) and a value of 1 indicates...
  • Washington Area Is Tops in Income

    10/20/2011 2:23:34 PM PDT · by throwback · 7 replies
    Washington, D.C., nosed out San Jose, Calif., as the nation's highest-income metropolitan region, fueled mainly by its army of attorneys, consultants, lobbyists and outside government contractors. Census data for 2010 show median household income was $84,523 in the D.C. area, compared with $83,944 for the San Jose region, the epicenter of Silicon Valley. Both numbers are well above the median income of about $50,000 for the nation as a whole. While Washington's incomes in 2010 were lower than in 2009, paychecks in the D.C. region have been more stable overall. About 5.6 million people live in the D.C. area, including...
  • D.C. Boasts Highest Average Income In U.S.

    10/19/2011 5:02:24 PM PDT · by Nachum · 13 replies
    Big Government ^ | 10/19/11 | Publius
    Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show. The U.S. capital has swapped top spots with Silicon Valley, according to recent Census Bureau figures, with the typical household in the Washington metro area earning $84,523 last year. The national median income for 2010 was $50,046. The figures demonstrate how the nation’s political and financial classes are prospering as the economy struggles with unemployment above 9 percent and thousands of Americans protest in the streets against income disparity, said...
  • EDITORIAL: The Imperial District--Washington, D.C., fiddles while America burns

    10/19/2011 4:51:12 PM PDT · by jazusamo · 11 replies
    The Washington Times ^ | October 19, 2011 | Editorial
    New Census Bureau data show that Washington, D.C., is the wealthiest metropolitan area in America. This is nothing to be proud of. The report shows that the National Capital Region edged out Silicon Valley to become the most affluent U.S. metropolitan areas. The typical Washington metro household earned $84,523 in 2010, compared to a national median income of $50,046. Income in the D.C. area registered a 0.8 percent drop, but that didn’t faze government bureaucrats, who kept getting automatic raises. For federal workers, total compensation with benefits jumped 3 percent in 2010 to an incredible $126,369. A separate study showed...
  • Incomes fall for first time in almost two years

    09/30/2011 8:03:44 AM PDT · by Free Vulcan · 5 replies
    Marketwatch ^ | 9.30.11 | Greg Robb
    Income fell a seasonally adjusted 0.1% in August, which was the first decline since October 2009... Consumer spending increased a seasonally adjusted 0.2% in August, down from a revised 0.7% gain in July...Economists surveyed by MarketWatch expected a flat reading in income and a 0.1% gain in spending... The core personal consumption expenditure price index was up 0.1% in August, below economist expectations of a 0.2% gain
  • The Distribution of Income for 2010: Individuals

    09/14/2011 11:09:13 AM PDT · by Kaslin · 6 replies ^ | September 14, 2011 | Political Calculations
    According to data just released by the U.S. Census this morning, in 2010, the median income earned by an individual American was $26,197, or rather, 50% of Americans earned more than that amount and 50% earned less than that amount. The average (or mean) income was $38,337. We've presented the cumulative distribution of the total money income earned by individuals in the United States in the chart below: So what percentile does your income place you on that chart? Well, wonder no more! Our latest tool will tell you exactly where you rank among all Americans, or rather, the 211,492,000...
  • Income Slides to 1996 Levels

    09/14/2011 7:02:34 AM PDT · by bolobaby · 23 replies
    Wall Street Journal ^ | SEPTEMBER 14, 2011 | CONOR DOUGHERTY
    The income of the typical American family—long the envy of much of the world—has dropped for the third year in a row and is now roughly where it was in 1996 when adjusted for inflation. The income of a household considered to be at the statistical middle fell 2.3% to an inflation-adjusted $49,445 in 2010, which is 7.1% below its 1999 peak, the Census Bureau said. The Census Bureau's annual snapshot of living standards offered a new set of statistics to show how devastating the recession was and how disappointing the recovery has been. For a huge swath of American...
  • Michigan Worst in Nation for Adding High-Income Earners from 1999 to 2009

    09/06/2011 1:15:58 PM PDT · by MichCapCon · 11 replies
    Michigan Capitol Confidential ^ | 9/5/2011 | Tom Gantert
    Michigan was the worst state in the union when it came to the growth of high-income taxpayers from 1999 to 2009, according to a new Tax Foundation analysis. The nonpartisan tax research group charted the percentage growth in each state of taxpayers earning more than $200,000 annually. North Dakota finished first. Tax Foundation’s Nick Kasprak, author of the analysis, said the national average for growth of taxpayers making $200,000 or more was 51.6 percent. Michigan came in at 18.1 percent. North Dakota saw a 137.4 percent increase. “The recession obviously hit Michigan very hard and its incomes are more depressed...
  • Taxing the Rich – 1765 to 2011, Part III

    09/04/2011 11:36:48 PM PDT · by NaturalBornConservative · 4 replies
    Natural Born Conservative ^ | September 4, 2011 | Larry Walker, Jr.
    – War on Taxes: 1964 to 2011– By: Larry Walker, Jr. –"The largest single barrier to full employment of our manpower and resources and to a higher rate of economic growth is the unrealistically heavy drag of federal income taxes on private purchasing power, initiative and incentive." ~John F. Kennedy, Jan. 24, 1963, special message to Congress on tax reduction and reform From Taxing the Rich Recap: 1776 to 1912In 1765, Great Britain imposed a series of taxes upon the American Colonies, in order to pay for its lengthy French and Indian War (1754-1763). After the war, the British forced...
  • Spending climbs 0.8% in July as savings dip (Personal income up .3%)

    08/29/2011 7:05:47 AM PDT · by Free Vulcan · 3 replies
    Marketwatch ^ | 8.29.11 | Jeffry Bartash
    WASHINGTON (MarketWatch) — Americans spent more money than they took in July — largely on auto purchases — as the personal savings rate fell, the government reported Monday. The income of U.S. workers rose 0.3% in July, but spending climbed an even faster 0.8%, the Commerce Department said. The rise in spending matched the increase in February as the largest since summer 2009... Inflation, meanwhile, rose 0.4% based on the latest reading from the personal consumption expenditure price index. The index has increased 2.8% over the past 12 months, pressured by rising gas prices.
  • Do high ZOT taxes discourage trolls?

    08/23/2011 9:32:38 AM PDT · by Harry Callahan SFPD · 82 replies
    High marginal tax rates ^ | 8/23/2011 | Inspector Callahan
    "The fact is the idea that tax rates have anything to do with business creation is a myth. Nobody who has a great idea and good prospects is going to not go for it because of tax rates." -quote by a Liberal
  • America Now Has Fewer Millionaires: Liberals Want Income Equality – They Should Be Thrilled

    08/22/2011 1:16:37 PM PDT · by SeekAndFind · 28 replies
    Before It's News ^ | 08/20/2011
    There are fewer millionaires in America today – can you hear the celebration at the Blue Heron farm on Martha’s Vineyard where the Obama family is spending someone’s millions? Obama at Blue Heron Farm - 2009 Pullout quote: For the past three decades, the political left has obsessed about income inequality. As the economy experienced one of the largest and lengthiest economic booms in history from 1982-2007, the left moaned that the gains went to yacht club members. Well, if equality of income is the priority, liberals should be thrilled with the last four years. Wall Street Journal (great article...
  • America, the Needy-ful

    08/18/2011 7:53:12 AM PDT · by Kaslin · 11 replies ^ | August 18, 2011 | Kathy Fettke
    “How can the government help me?” This seems to be a growing sentiment among the American middle class. “The land of opportunity” is quickly becoming the “nation of the needy.” Here’s a question I received from a reader just last week: “I am not happy with how things are going since the Bush Administration allowed tax cuts for businesses and the wealthy. These cuts were supposed to end for those who just keep earning more off the middle class. My question is: I am told that investors can invest as little as $1000.00 in real estate, and make a living...
  • Income does Not equal Wealth

    08/02/2011 10:25:02 AM PDT · by stocksthatgoup · 20 replies
    Vanity | 8/02/2011 | Vanity
    Income does Not equal Wealth. Net Worth equals Wealth. Income equals Net Work!
  • U.S. consumer spending, prices fall in June (the bull market in stocks is OVER)

    08/02/2011 6:32:41 AM PDT · by Free Vulcan · 13 replies
    Marketwatch ^ | 8.2.11 | Jeffry Bartash
    WASHINGTON (MarketWatch) — The income of U.S. workers rose slightly in June, but they spent less and saved more at the same time that consumer prices fell, according to government data released Tuesday. Personal income increased a seasonally adjusted 0.1% on the month, the smallest gain since last November, the Commerce Department reported. Spending by consumers, however, dropped 0.2% to mark the first decline in nearly two years. Adjusted for inflation, personal consumption fell less than 1% in June. As a result, the individual savings rate for June climbed to the highest level of 2011 — 5.4% of disposable income,...
  • Universal Basic Income(free money for life coming soon)

    07/20/2011 9:55:19 AM PDT · by mainestategop · 30 replies
    Mainestategop ^ | 7/19/11 | Mainestategop
    The above title should say it all. It is a currently unheard of social program but one that will become widely known just like Social security and Universal health care. The Universal Basic Income is essentially getting free money for life with no strings attached. ABSOLUTELY NONE! It is already beginning to take hold in New Zealand and is being contemplated (not surprisingly) by that Communist liberal utopia that Democrats want us to emulate, the European Union. According to websites such as basic and similar websites advocating the implementation of UBI, everyone would receive somewhere between six hundred to...
  • Jobs, Income Data Show Right-To-Work States Working

    06/30/2011 7:37:14 AM PDT · by Slyscribe · 3 replies
    Investor's Business Daily ^ | 6/29/2011 | Sean Higgins
    The business world is abuzz over the National Labor Relations Board's complaint vs. Boeing's new South Carolina production line. For NLRB critics, the case boils down to one thing: "right-to-work" laws. Right-to-work states have generally lower unemployment, higher job growth, lower taxes and better business climates. They have growing populations and have been attracting businesses from other states.
  • 'I hate my babies and my older children are animals,' says Octomom Nadya Suleman

    06/29/2011 12:00:26 PM PDT · by Niuhuru · 67 replies
    DailyMail ^ | 5:31 PM on 29th June 2011 | By Daily Mail Reporter
    She is the mother of fourteen children, who gave birth to the longest surviving octuplets in U.S history. But in disturbing comments sure to alarm social services, Octomom's Nadya Suleman has said she 'hates' her eight babies. The 36-year-old single mother also calls her six older children 'animals'
  • Illinois out of money for income tax refunds

    06/29/2011 3:06:06 AM PDT · by blueyon · 43 replies
    JPStar ^ | 6/28/2011 | Doug Finke
    SPRINGFIELD — With the start of a new budget year just two days away, thousands of Illinois businesses are still waiting for state income tax refunds dating back to 2009. The Illinois Department of Revenue said Tuesday it would end the fiscal year June 30 still owing about $620 million in business income tax refunds. As of June 21, the department still owed 7,572 business income tax refunds, although spokeswoman Sue Hofer said the number by the end of the month would be lower because some since have been paid. The oldest of the overdue refunds goes back to April...
  • The Great (Male) Stagnation. The growing disconnect between GDP per capita and male income.

    06/09/2011 4:43:24 AM PDT · by SeekAndFind · 30 replies
    Marginal Revolution ^ | 06/08/2011 | Alex Tabarrok
    You have probably seen something like the following graph which shows real GDP per capita and median male income since 1947. Typically, the graph is shown with family or household income but to avoid family-size effects I use male income. It’s evident that real gdp per capita and median male income became disconnected in the early 1970s. Why? Explanations include rising inequality (mean male income does track real gdp per capita somewhat more closely), Tyler speculates that the nature of technological advances has changed, other people have speculated about rising corporate profits. Definitive answers are hard to come by.Here...
  • Here are the countries that love to soak the rich

    06/02/2011 9:04:34 AM PDT · by SeekAndFind · 25 replies · 1+ views
    Business Insider ^ | 06/02/2011 | Mamta Badkar
    Tax attacks on the rich may seem extreme in the U.S., but around the world rates are far more aggressive. A report by KPMG highlights 2010 individual income tax for countries around the world. We ranked the countries based on the income tax rate on $300,000 of gross income and included the income level at which the top marginal rate kicks off. As a point of reference, America's top marginal rate starts at $373,650 and its percentage 27.9%. That keeps the U.S. out of the top 20.
  • 77,000 feds paid more than governorsGovernment salaries put under scrutiny

    06/01/2011 8:09:08 AM PDT · by yoe · 32 replies
    The Washington Times ^ | May 31, 2011 | Stephen Dinan
    More than 77,000 federal government employees throughout the country — including computer operators, more than 5,000 air traffic controllers, 22 librarians and one interior designer — earned more than the governors of the states in which they work. The findings, from a Congressional Research Service report requested by Sen. Tom Coburn, Oklahoma Republican, were released at a time when public workers’ salaries and benefits are under scrutiny across the country as governments try to streamline. CRS reviewed 2009 salary figures, the most recent available, and found 77,057 employees who earned more in annual pay than their respective governors. Of those...
  • Point of No Return | National Debt Tops Personal Income

    05/29/2011 12:26:49 PM PDT · by NaturalBornConservative · 14 replies
    Natural Born Conservative ^ | May 29, 2011 | Larry Walker, Jr.
    ~ By: Larry Walker, Jr. ~For the first time since World War II, the National Debt of the United States has exceeded personal income, on a per capita basis. The point of no return was breached in 2010, during Barack Obama’s second year in office, and the derangement continues to spin hopelessly out of control. This means that every dollar earned by an American citizen is now owned by the federal government, and then some. That’s right, the average annual income of most working-class Americans now belongs to the federal government. The warning of Thomas Jefferson has come to pass,...
  • Real Per Capita GDP Declines on Obama's Watch

    05/15/2011 10:00:55 AM PDT · by NaturalBornConservative · 3 replies
    Natural Born Conservative ^ | May 14, 2011 | Larry Walker, Jr.
    ~ By: Larry Walker, Jr. ~According to the latest report from the Bureau of Economic Analysis, real gross domestic product increased at an annual rate of 1.8% in the first quarter of 2011. But by now most of us understand that this is merely calculated by measuring an increase of roughly 0.45 percent from the fourth quarter of 2010 to the first quarter of 2011, and then multiplying the result by four (.045 * 4 = 1.8). That’s all well and good, but it doesn’t necessarily tell us the truth. What most of us really want to know is the...
  • A “Third Income Tax” To Fund Public Education?

    05/08/2011 7:24:54 AM PDT · by Kaslin · 129 replies ^ | May 8, 2011 | Austin Hill
    Unemployment is rising, the federal government is broke, and so are many of the states. Now more than ever America needs its various governments to exercise restraint, and to scale-back on spending. And in the midst of this environment a stunning proposal has emerged in the nearly insolvent state of California: a third income tax. The proposal is actually worse than a mere “additional” income tax – and I’ll explain this in a moment. First let’s look at the “other two” income taxes. For the record, if you’re an American and you work and you earn personal income, your U.S....
  • Consumer spending looks firmer in March

    04/29/2011 8:46:51 AM PDT · by Free Vulcan · 11 replies
    Marketwatch ^ | 4.29.11 | Gregg Robb
    WASHINGTON (MarketWatch) — The first quarter ended on an up note with U.S. consumer spending looking better than expected, given higher gasoline costs, the Commerce Department reported Friday. March data showed consumer spending rose 0.6% in current dollar terms, roughly in line with expectations on Wall Street. “At least through March, households continued to spend, but rising prices [are] eating up a lot of that money,” said Joel Naroff, president of Naroff Economic Advisors Inc. The report on personal incomes as well as consumer spending fleshes out monthly details contained in the government’s data on growth in gross domestic product...
  • The tax class O must have skipped

    04/21/2011 3:44:24 AM PDT · by Scanian · 12 replies · 1+ views
    NY Post ^ | April 20, 2011 | MICHAEL BARONE
    Did Barack Obama take Tax 1 in law school? I did, and I remember the first day of classes, when mild mannered Professor Boris Bittker asked a simple question: "What is income?" I was pretty confident I could come up with a quick answer, and so were a lot of other students. By the end of the hour, after Professor Bittker had politely punched huge holes in every student's definition, it was pretty clear that none of us could. Income is a slippery concept -- especially slippery when you're trying to tax it. Which leads me to think that Obama...
  • $6 million is not enough

    04/20/2011 3:05:36 PM PDT · by Starman417 · 7 replies
    Flopping Aces ^ | 04-20-11 | DrJohn
    As has been long recognized, it is best to watch Barack Obama's actions as opposed to listening to his words. We are finally getting some insight into something he said, i.e. are able to begin to flesh out a definition. Obama once said "I do think at a certain point you've made enough money..." Here is the video [VIDEO AT SITE] As of 2010, Obama's net worth was about $5 million. He reported an income of $1.7 million in 2010, and 5.5 million in 2009. Given that he has no expenses, Obama's net worth now ought to be about...
  • Ministry of Plenty ( Obama / Mondale to raise taxes )

    04/18/2011 12:07:03 PM PDT · by george76 · 8 replies
    wsj ^ | APRIL 18, 2011 | JAMES TARANTO
    Obama wants to raise taxes. So does Mondale. Obama won't tell you. Mondale just did. Remember Walter Mondale? Oddly enough, we do, mostly for this fun fact: He's the only major-party American politician to have lost elections in all 50 states. In 1984, he told Americans to take a hike, and they told him the same thing. In a Washington Post op-ed piece over the weekend, Mondale quotes his own speech to that year's Democratic National Convention in San Francisco: "Taxes will go up. . . . It must be done. Mr. Reagan will raise taxes, and so will I....
  • But..."Progressive" Students Don't Want To Redistribute Their GPA?

    04/17/2011 1:22:07 PM PDT · by The Looking Spoon · 27 replies
    The Looking Spoon ^ | 4-17-11 | Jared H. McAndersen
    “By ignorance we mistake, and by mistakes we learn” -Unknown So what happens when open minded progressive students get a chance to put their mouth where other people's money is? (See the video embedded at the original post here or at YouTube.)To a person every student opposes the idea, and thinks redistributing GPA is different from income. Why is it different? These girly boys are not man enough to admit their hypocrisy, that's why.The "progressive" tax comes knocking on their academic door and their "intellect" can't handle the confrontation. It's so simple, if a high GPA is the key...
  • Stock Tax would Generate 2 Trillion a year!

    04/16/2011 10:16:36 PM PDT · by AmericanDave · 128 replies
    blog | AmericanDave
    I read a few years ago a proposal to put a penny tax on each share of stock traded. I checked the NYSE stats page and found in 2010 over 210 Trillion shares changed hands. Simple math shows that a penny a share tax would generate an additional 2 Trillion dollars to the US Treasury. Every year. The most aggressive budget put forward right now will cut spending by 6 Trillion over TEN years, thats 600 billion a year in cuts. Since our spending problems exploded with the stock market derivative bailouts, it is only right the market should pay...
  • US Federal Taxes by Income Level

    04/14/2011 10:04:04 AM PDT · by justlurking · 19 replies
    Congressional Budget Office ^ | 2010-06-07 | Congressional Budget Office
    Since Obama is starting up the "tax the rich" dogma again, I thought it was time to discuss exactly how much taxes the "rich" are paying. The Congressional Budget Office publishes a great deal of information about how the federal tax burden is distributed, and compiles all of it at the cited link. It provides data from 1979 to 2007, adjusted to 2007 dollars so that you can compare how it has changed, without worrying about inflation. However, I discovered that someone has taken all this information and created a series of graphs that make it much easier to understand:...
  • Real Wages Fall For 5th Straight Month, Bad News For Obama

    04/15/2011 6:11:22 AM PDT · by Slyscribe · 17 replies
    IBD's Capital Hill ^ | 4/15/2011 | Ed Carson
    Real earnings fell for a fifth straight month as wages fail to keep up with soaring gasoline prices and other costs. Inflation-adjusted earnings for all private workers dropped 0.5% in March, the worst monthly drop since July 2008, according to Labor Department data. Nominal wages were flat while consumer prices climbed more than 0.5% for a second straight month. Year over year, inflation-adjusted weekly pay sank 0.4% That’s the first drop in a year and down from a 2.2% gain in October. Since October, real weekly wages have dropped at a 3.8% annual rate — matching the decline set in...
  • The Rich Aren’t Getting Richer. Actual super-wealthy households saw their income decline.

    04/11/2011 7:09:05 AM PDT · by SeekAndFind · 10 replies
    National Review ^ | 04/11/2011 | Kevin Williamson
    Are the rich really getting richer? That’s a pretty standard line from the Left, a lament usually cited in the course of calling for higher tax rates. Robert Reich is particularly fond of this mode of attack: A recent post of his was headlined, “For 70 years, the wealthy have grown wealthier.” Professor Reich probably doesn’t write his own headlines, but it’s a common enough sentiment for him, and his prose is rich with phrases such as “the super-rich got even wealthier this year.” He isn’t alone in employing this mode. Take this from an April 7 Salon article: “And...
  • Newsweek Writer Claims Income Inequality to Blame for Americans Failing Citizenship Test

    03/22/2011 9:43:23 AM PDT · by Nachum · 40 replies
    Newsbusters ^ | 3/22/11 | Kyle Drennen
    Appearing on Tuesday's CBS Early Show, Newsweek senior writer Andrew Romano touted a survey in the magazine's latest issue showing that 38% of Americans failed the U.S. citizenship test and claimed to know the cause: "One of the big ones is income inequality in the United States. We're one of the most in-equal societies in the developed world." Romano argued to co-host Erica Hill: "When people don't have a lot of money, there's a difficulty getting a good education, there's a lack of opportunity and a lack of knowledge. That's one of the reasons why we don't do as well...
  • Dayton income-tax plan triggers political scuffle at Capitol

    03/04/2011 5:44:28 AM PST · by WOBBLY BOB · 18 replies
    AP ^ | 3-4-11 | Patrick Condon
    Gov. Mark Dayton's plan to raise income taxes on the state's top earners caused an outbreak of political scuffling at the Capitol Thursday, with Republicans bringing the plan to House and Senate votes that the Democratic governor blasted as political game-playing. The income tax increase, which would bring in an estimated $2.4 billion and which Dayton has proposed to help eliminate a $5 billion state budget shortfall, failed unanimously in the House of Representatives and mustered only a single vote in the Senate. Republicans voted no because they say income tax increases would damage job growth and the state's economy;...
  • 10 Dividend-Paying, High Quality Stocks

    03/01/2011 1:43:13 PM PST · by BenLurkin · 8 replies
    yahoo ^ | February 28, 2011
    Ten dividend-paying high quality stocks to consider are listed below: 1. Company: Westpac Banking Corp (WBK) Current Dividend Yield: 6.07% Sector: Banking Country: Australia 2. Company: Royal Bank Of Canada (RY) Current Dividend Yield: 3.48% Sector: Banking Country: Canada 3. Company: National Grid PLC (NGG) Current Dividend Yield: 4.41% Sector: Electric Utilities Country: U.K. 4. Company: Nextera Energy Inc (NEE) Current Dividend Yield: 4.02% Sector: Electric Utilities Country: U.S.A. 5. Company: Telecom Italia SpA (TI) Current Dividend Yield: 4.06 Sector: Telecom Country: Italy 6. Company: Banco Santander Chile (SAN) Current Dividend Yield: Banking Sector: 3.25% Country: Chile 7. Company: Telefonica...
  • Retirement Planning Advice for My 20-Something Son

    02/24/2011 9:55:30 PM PST · by BenLurkin · 47 replies
    cbs ^ | Friday, February 25, 2011 | Steve Vernon
    Establish smart spending habits. Live like you're poor. How do you do that? Drive your cars into the ground, don't eat out very much, avoid expensive and potentially unhealthy processed foods, buy food in bulk, buy just enough clothes to fit your needs, and use public transportation. ... Use credit cards only as a convenience to avoid carrying cash; limit your credit card spending so that you can easily pay off the balance each month. Make every dollar count with your spending, so you can free up money to invest in the future. Get healthy. One of the best things...
  • freep a poll-"do you support Dayton's income tax increase?"(MN)

    02/15/2011 5:53:18 PM PST · by WOBBLY BOB · 19 replies
    pioneer press ^ | 2-15-11 | wobbly bob
    Would you support Gov. Dayton's proposed $3.35 billion income tax increase? Total Votes = 884 Yes. 40.27 % No. 54.97 % I'm not sure. 4.751 %
  • 'CREW' Dings Frat House Hill Offices (barfer)

    02/13/2011 9:59:03 AM PST · by OldDeckHand · 20 replies ^ | 02/13/2011 | Patrick Gavin
    Even though barrels of ink have been affectionately spilled about all of those House members sleeping in their Capitol offices in order to save money, Citizens for Responsibility and Ethics in Washington is none too happy about the trend. CREW has asked the Office of Congressional Ethics to look into whether the office sleepovers violate tax laws by not being reported as a taxable fringe benefit. “House office buildings are not dorms or frat houses,” said CREW Executive Director Melanie Sloan. “If members didn’t want to find housing in Washington, they shouldn’t have run for Congress in the first place.”...
  • Illinois House 1-217-782-2000, Trying to pass 75% [increase in] Personal & Corporate Income Tax Sun

    01/09/2011 1:11:03 PM PST · by Steelers6 · 16 replies
    Illinois General Assembly ^ | January 9, 2010 | steelers6
    They need 60 Votes for Personal & Corporate Income Tax, $1 per pack Cigarette Tax, Gambling Casino for Chicago, but need 71 votes for nearly $9 Billion in borrowing. Call all Republicans and make sure they vote for none of it, New Session with Reps Elected in November is Wednesday. Illinois State Representatives 96th General Assembly Officers of the General Assembly Representative Bills Committees District Party Edward J. Acevedo Bills Committees 2 D Luis Arroyo Bills Committees 3 D Suzanne Bassi Bills Committees 54 R Mark H. Beaubien, Jr. Bills Committees 52 R Daniel V. Beiser Bills Committees 111 D...
  • Obama: a $172,000 income is “modest”

    01/09/2011 9:39:35 AM PST · by Starman417 · 18 replies
    Flopping Aces ^ | 01-08-11 | DrJohn
    Nearly all democrats insist that anyone making $250,000 a year is wealthy. They have incited anger and even violence over the issue. Venture capitalist Garrett Gruener says "I'm rich, tax me more." Warren Buffett, one of the wealthiest men on the planet, say the rich should pay more in taxes. Never mind that the top 1% of earners pays 41% of federal taxes. Never mind that about 50% of the country pays no federal taxes at all. (For a nice breakdown on this, visit here) Jack Spillane puts it this way: Wealthy people like Gates, Buffet and Gruener will...
  • 5 Places to Retire On Social Security Alone

    06/19/2010 7:39:53 AM PDT · by BenLurkin · 142 replies · 2,795+ views
    yahoo ^ | Friday, June 18, 2010 | Kathleen Peddicord
    The average Social Security check is about $1,200. You can receive that payment while living anywhere in the world. In some countries, you can even have your Social Security check direct-deposited into your local bank account. Here are five places where you could retire on your Social Security income alone. Boquete, Panama. Panama offers super user-friendly options for foreign residency. Resident retirees receive a long list of benefits including discounts on everything from prescription medicines and in-country air travel to closing costs on the purchase of real estate. Granada, Nicaragua. Granada is ... home to a welcoming community of expat...
  • California Dreaming: Lockyer And Levy Have Fun With Numbers

    California State Treasurer Bill Lockyer and Stephen Levy, director of the Center for Continuing Study of the California Economy, took to the op-ed pages of the Los Angeles Times Tuesday to insist that the Golden State doesn’t have a problem with runaway government spending. Their evidence: “Our critics say we are addicted to spending. But the numbers show that isn’t true. Thirty years ago, general fund expenditures totaled about $7.43 for every $100 of personal income.
  • Illegal immigrants cashing in on federal tax credits, study shows (Flashback)

    12/08/2010 10:58:07 AM PST · by Qbert · 11 replies
    Washington Examiner ^ | 4/15/2009 | Kevin Mooney
    Illegal immigrants cashing in on federal tax credits, study shows. Large numbers of illegal immigrants file tax returns using phony Social Security numbers to cash in on the federal Earned Income Tax Credit, thanks to lax government management, according to the author of a new study.   “Technically, only people authorized to work in the U.S. are eligible for the credit, you need a valid Social security number,” said Ed Rubenstein, a financial analyst and economist, speaking at a news conference Tuesday at the National Press Club.   “But identity theft, stolen Social Security numbers, and other scams effectively nullify...
  • Shared Sacrifice and a Free Lunch

    12/05/2010 1:01:35 PM PST · by NaturalBornConservative · 7 replies · 1+ views
    Natural Born Conservative ^ | December 5, 2010 | Larry Walker, Jr.
    A Taxpayer’s Lips to God’s Ear- by: Larry Walker, Jr. -Shared sacrifice? I’ll think about that the next time I’m forking over a check for $8,000 in income taxes, while the person in front of me is walking out with an $8,000 refund check. Nobody is willing to pitch in any further to help out an irresponsible bunch of crooks in Washington D.C. The truth is that 53% of us have already been pitching in, while 47% of Americans have not been paying any income taxes at all. It’s the 47% who don’t pay income taxes, the ones reaping all...
  • Cuban Tax Reform and Unfreedom of the West (Cubans have less of their income taken than Americans)

    11/04/2010 7:44:50 AM PDT · by SeekAndFind · 3 replies
    American Thinker ^ | 11/04/2010 | Vasko Kohlmayer
    "Cuba has set income tax rates at 25 to 50 percent for its soon to be expanded private sector, with the biggest earners paying the most taxes," reported Reuters last week. It is telling that the tax rates of Cuban communists are now comparable with those in many so-called free countries. Below, for comparison, are individual tax rates for selected Western democracies: Denmark                     36.57 - 51.5% United Kingdom          0 - 50% Belgium                      25 - 50% Germany                     0 - 45% France                         5.5 - 40% Austria                        21 - 50% Germany                     0 - 45% Japan                           5- 40% High as they...
  • David Rosenberg Explains Why Corporations Are Rolling In Dough, And You're Not

    11/02/2010 7:28:49 AM PDT · by blam · 16 replies
    The Business Insider ^ | 11-2-2010 | Joe Weisenthal
    David Rosenberg Explains Why Corporations Are Rolling In Dough, And You're Not Joe Weisenthal Nov. 2, 2010, 9:59 AM David Rosenberg of Gluskin-Sheff explains why corporations are sitting pretty right now, and you're not. WHERE’S THE INCOME? Well, it is concentrated at the corporate level. Here is the story. Companies have no reason to hire or pay their workers more because they are sitting on so much idle capacity. So, cost-cutting and productivity gains manage to propel corporate bottom-line performance, hence acting as a critical antidote to lagging revenue growth. Remember, even at the business level, this has been a...
  • The income gap: real, relevant or ruse

    11/01/2010 12:21:09 PM PDT · by tysonbam · 5 replies
    The Battalion ^ | 11/1/10 | Taylor Wolken
    The media is ripe with sensationalism over the growing gap between the rich and the poor. The left has made it a false flag to rally troops for class warfare, which is neither healthy, nor beneficial for anyone involved. "The wealthy don't work for their money!" "The rich get richer and the poor get poorer!" This is bumper sticker economics and it's time to put the myths around income disparity to rest.
  • New Rules Coming for Payments Out of Health Savings Accounts

    10/28/2010 10:56:57 PM PDT · by T.L.Sink · 43 replies
    Fox News ^ | Oct. 16, 2010
    Under the new health care law, consumers using workplace pre-tax health savings accounts will soon need a doctor's note to pay for Tylenol and an estimated 15,000 other over-the-counter drugs. Starting Jan. 1, employees who use flexible spending accounts, health saving accounts, or health reimbursement arrangements to pay for common medications such as pain relievers, cold medicines, antacids and allergy medications will need prescriptions. The new rules will prohibit the use of such debit cards becsuse the IRS says there's no way to prove the drugs are prescribed. The IRS says any money removed from HSA accounts to pay for...