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Keyword: rates

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  • Does the Fed Lead Banks on Interest Rates, or Do Banks Lead the Fed?

    10/26/2016 5:02:38 AM PDT · by expat_panama · 4 replies
    Real Clear Markets ^ | October 25, 2016 | John Tamny
    It's not talked about enough, but in an economy of individuals (meaning, the only kind of economy) recessions are healthy. As individuals we regularly develop bad habits, and it's during recessions that we break them. Cris Carter was a good NFL receiver who scored a lot of touchdowns, but it was only after Buddy Ryan waived him from the Philadelphia Eagles that he was forced to confront his difficulties with drugs and alcohol. Carter's personal recession happily forced him to break his talent-sapping habits on the way to a Hall of Fame NFL career. Looked at in the bigger picture,...
  • The Blind Alley of Monetary Populism

    10/26/2016 4:26:40 AM PDT · by expat_panama · 7 replies
    project-syndicate ^ | OCT 25, 2016 | JEFFREY FRANKEL
    SWARTHMORE – In the United States and elsewhere nowadays, populist politicians often claim that easy monetary policy is hurting ordinary workers, thereby exacerbating income inequality. But while inequality is a problem, raising interest rates is no way to address it. To say otherwise is a strange claim for anyone to make, especially populists. After all, low interest rates benefit debtors and hurt creditors, as does the inflation that can be spurred by monetary easing. Throughout most of US history, for example, populists have supported easy monetary policy as a way to help the little guy against distant bankers with hard...
  • Congrats, Mississippi, you’re the only state where ObamaCare ISN’T making rates skyrocket!

    01/12/2016 9:48:21 AM PST · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 01/12/16 | Robert Laurie
    Woohoo!!! -0.2%! #Winning! If you have the misfortune of living in any one of 49 states, I have bad news for you. The average 2016 healthcare premium is going to skyrocket thanks to ObamaCare. 17 states will see their rates jump by at least 20%, while five of them - Minnesota, Alaska, Tennessee, Hawaii, and Oklahoma - will see truly staggering increases of 30-47%. The majority will see double-digit increases. But, hey, why be so “glass 98% empty” about this? Obama has promised us that his namesake legislation is “working” and in one state it actually is. Sort of. Ok,...
  • Yellen, You Have A Problem: The "Rate Hike Corridor" Just Broke (rate hike down 50%)

    01/01/2016 8:40:22 AM PST · by GilGil · 67 replies
    ZeroHedge ^ | 12/31/2015 | Tyler Durden
    ... the Fed Funds rate just tumbled to 0.12%, far below the required 0.25% floor set by the Fed, and down 23 bps from the effective 0.35% Fed Funds rate set yesterday, confirming that indeed the rate hike corridor can and has been breached at least once, and just two weeks into the Fed's rate hike experiment.
  • U.S. Equity Futures Slip as Fed's Rate Decision Looms

    09/17/2015 5:37:33 AM PDT · by citizen · 62 replies
    Fox News Business ^ | September 17, 2015 | Victoria Craig
    Fed decision day: The event traders across the globe have anticipated for months has finally arrived. As of 8:00 a.m. ET, Dow Jones Industrial Average futures were 43 points lower, or 0.26% to 16621. S&P 500 futures shed 6 points, or 0.31% to 1982, while Nasdaq 100 futures slid 10 points, or 0.24% to 4370. Today’s Markets Months of speculation about whether September was the month in which the Federal Reserve would begin to lift short-term interest rates is finally coming to a close. The Federal Open Market Committee meets for the final day of its two-day policy-setting meeting, which...
  • LARRY SUMMERS: 'Raising Rates Risks Tipping Some Part Of The Financial System Into Crisis'

    08/24/2015 6:24:10 AM PDT · by blam · 14 replies
    BI ^ | 8-24-2015 | Myles Udland
    Myles Udland August 24, 2015Larry Summers, who was very nearly chairman of the Federal Reserve, thinks there is almost no reason for the Fed to raise rates right now. Writing in The Financial Times on Monday, Summers argues that the Fed will be risking setting off a financial crisis by electing to raise rates at some point this year, as it has made clear it plans to do. Here's the heart of Summers' impassioned case against the Fed doing anything: There may have been a financial stability case for raising rates six or nine months ago, as low interest rates...
  • TRADER: Prepare For 'The Most Bullish Event For Equities In 2015'

    08/19/2015 9:28:51 AM PDT · by blam · 11 replies
    BI ^ | 8-19-2015 | Akin Oyedele
    Akin Oyedele August 19-2015 Dave Lutz at Jones Trading says a rate hike from the Federal Reserve will be the best thing that happens to the stock market this year. One big concern around rate hikes is that higher borrowing costs put pressure on company earnings, and ultimately, on stocks. However, Lutz noted in a client email on Wednesday that investors would see a rate hike as a clear sign that the economy is on the up. Other analysts have pointed out that stocks have rallied in the months leading up to, and for at least six months after a...
  • 4 Tips to Avoid Road Tolls This Summer

    06/18/2015 6:56:30 AM PDT · by Tolerance Sucks Rocks · 17 replies
    Time ^ | June 4, 2015 | Brad Tuttle
    We've got a secret the rental car companies would prefer you didn't know. people camping in RV More The Cheapest Way to Roadtrip Might Surprise You 3 Ways to Avoid Costly Rental Car Insurance These Are the Most Hated Fees in America This won’t come as news to commuters and frequent road trippers, but drivers are encountering more and more toll roads, as well as higher and higher tolls on the existing ones. The latest example is I-10 in Texas, where plans called for the maximum toll during peak travel hours to shoot from $7 to $10 as of May...
  • Oil drop sends major central banks in different directions

    12/18/2014 6:58:19 AM PST · by mac_truck · 2 replies
    Reuters ^ | 12/18/2014 | Paul Carrel, Mike Peacock and Howard Schneider
    The world's major central banks are scrambling to work through the implications of the near halving of the price of oil in the second half of 2014, and they are coming up with very different conclusions. Perhaps unsurprisingly, policymakers looking at robust economic recoveries such as in the United States and Britain are focused on the likely boost to growth and consumption from markedly lower energy prices and the later upward impact that should have on inflation. But for the European Central Bank, battling to revive a moribund economy, the worry is whether cheap oil could tip the euro zone...
  • The Pro-Life Movement is Winning, Abortions at a Record Low Since Roe vs. Wade

    12/02/2014 2:25:08 PM PST · by Morgana · 21 replies
    LIFE NEWS ^ | 12/2/14 | Randy O'Bannon, Ph.D.
    The governmentÂ’s latest report confirms the good news reported by Guttmacher earlier this year. That not only the number of abortions in the U.S. have dropped to lows not seen since the earliest days of legal abortion in America, so, too, have abortion rates and abortion ratios. The 730,322 abortions reported to the federal Centers for Disease Control (CDC) in 2011 do not include any from California, Maryland, or New Hampshire, which did not make them available. Guttmacher reported 1,058,470 for the same year. (As we explain fully below, GuttmacherÂ’s numbers will always be higher because it directly surveys abortion...
  • Admin Won’t Release Final Premiums Until After Elections

    10/12/2014 3:41:59 AM PDT · by Enlightened1 · 24 replies
    The Daily Caller ^ | 10/09/14 | Sarah Hurtubise
    The Obama administration has already debuted its new, improved version of, but still won’t release premium rates on the website until after the Nov. 4 elections
  • Big Minnesota insurer leaves Obamacare site

    09/16/2014 3:09:45 PM PDT · by TurboZamboni · 6 replies
    yahoo ^ | 9-16-14 | Dan Mangan
    Minnesota Obamacare is calling it quits. PreferredOne, the insurer that sold nearly 60 percent of all private health plans on Minnesota's Obamacare exchange, on Tuesday said it would leave that marketplace. PreferredOne's plans were the lowest-cost options on that exchange, known as MNSure. PreferredOne cited the costs of doing business on MNSure as the reason for its surprising decision, saying that selling plans is "not administratively and financially sustainable going forward," according to, the website of that Minnesota TV News network.
  • Expenses went up in 2013 for families

    06/02/2014 5:14:49 PM PDT · by george76 · 6 replies
    Pittsburgh Post-Gazette ^ | May 27, 2014 | Ann Belser
    A survey from the Bureau of Labor Statistics found that the average income for families of all sorts decreased from 2012 to 2013 by $103 to $65,069 before taxes, but their expenses went up by $777 a year to $51,408. ... The biggest share of the increased expenses of the average American household went to transportation, which cost a total of $8,999 a year, or $494 more than the previous year, as a result of purchase prices going up.
  • GarCo residents face highest rate for Obamacare ( Colorado )

    02/23/2014 7:57:35 AM PST · by george76 · 17 replies
    Grand Junction Sentinel ^ | February 22, 2014 | Dennis Webb
    New Castle resident and business owner David Fitzsimmons used to pay $672 a month for health insurance for him and his family. This year, with the implementation of the federal Affordable Care Act that has resulted in the country’s highest rates being charged in Garfield County, he faced a minimum premium of $942 a month. “The insurance rates, frankly, it just comes down to a decision for me and my family, whether we have a roof over our heads or whether we have health insurance. The obvious answer is that we have a roof over heads,” he said Friday during...
  • Obamacare: Know Your Rates

    02/06/2014 7:43:17 PM PST · by afraidfortherepublic · 13 replies
    Forbes ^ | 2-7-14 | Courtesy of WI State Sen. Frank Lasee
    Link only:
  • What Obamacare Coverage Costs Congressmen

    12/05/2013 11:43:15 AM PST · by afraidfortherepublic · 9 replies
    Wall Street Journal ^ | 12-2-13 | Rebecca Ballhaus and Louise Radnofsky
    Some members of Congress are about to get their own kind of sticker shock when they head to the new insurance exchanges. A few will get a price cut. As the Journal has reported, a provision in the health law requires lawmakers to get their benefits alongside small-business employees for the first time, and that means lawmakers’ premiums will suddenly be tied to their age. Members of Congress used to pay the same rate, regardless of how old they were, which was around $186 a month to cover just themselves on one popular plan after their employer (in this case,...
  • Obamacare jacks up her insurance

    10/29/2013 4:18:59 AM PDT · by Paul46360 · 36 replies
    Chicago Suntimes ^ | October 27, 2013 | CAROL MARIN
    “I spent two years defending Obamacare. I had constituents scream at me, spit at me and call me names that I can’t put in print. The congressman was not re-elected in 2010 mainly because of the anti-Obamacare anger. When the congressman was not re-elected, I also (along with the rest of our staff) lost my job. I was upset that because of the health care issue, I didn’t have a job anymore but still defended Obamacare because it would make health care available to everyone at, what I assumed, would be an affordable price. I have now learned that I...
  • Health insurance cancellation notices soar above Obamacare enrollment rates (NJ - 800,000)

    10/24/2013 2:12:44 PM PDT · by Libloather · 34 replies
    Daily Caller ^ | 10/24/13
    **SNIP** Nearly 800,000 New Jersey residents’ health-care plans will not longer exist in 2014, forcing insurers to create new ones for individuals and small business owners that hew to the Obamacare’s new regulations, The New Jersey Star Ledger found in early October. “I don’t feel like I need to change, but I have to,” Jeff Learned, a television editor in Los Angeles, told Kaiser Health News. Learned now needs to scramble to find a plan to coverage his teenage daughter, whose health problems have required several surgeries. More Americans have lost their individual health coverage in Florida and California than...

    09/18/2013 11:34:54 AM PDT · by SeekAndFind · 63 replies
    Business Insider ^ | 09/18/2013 | Sam Ro
    The Federal Reserve's FOMC statement is out, and it's a shocker! The Fed is NOT TAPERING its massive $85 billion large-scale asset purchase program. Almost no one expected this. The Dow went from -40 to +63 in the blink of an eye. The S&P 500 got as high as 1,718, which is an all-time intraday high. The U.S. dollar tanked, and gold spiked. The 10-year Treasury note yield tanked to 2.76% from around 2.86% before the announcement.
  • Here Comes Obamacare "Sticker Shock"

    09/08/2013 4:39:30 PM PDT · by jazusamo · 10 replies ^ | September 8, 2013 | Kevin Glass
    The Obamacare health insurance exchanges are still supposed to go live next month even though implementation delays have continued to pile up. Additionally, many analysts have predicted what has come to be known as "rate shock" - the realization of many who go to get insurance on the exchanges that they'll be paying a lot more now than they used to. Sen. John Barrasso (R-Wyo.) - who is one of a few actual doctors in the Senate - put those predictions into words . "Many families are going to have real sticker shock when they see their new insurance...
  • Got Cash? Mortgage Purchase Applications Rise 1.2%, Existing Home Sales Rise 6.5%

    08/21/2013 7:52:14 AM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 08/21/2013 | Anthony B. Sanders
    According to the Mortgage Bankers Association (MBA), mortgage applications declined 4.56 from the previous week. mbastata082113 Most of the decline in mortgage applications was refinancing applications. They fell 7.72% from the previous and have fallen since May 1st when Treasury and mortgage rates began to rise. mbarefirates Mortgage purchase applications rose 1.2% from the previous week. And purchase applications have fallen since May 1st despite today’s report. mbapurchasefreddierate Existing home sales rose faster than expected at a rate of 6.5% versus the expectation of 1.4%. ehs082113 Of course, 60% of home sales are all cash and many are foreign and...
  • 30 Yr Treasury Auction: 2nd Lowest Bid to Cover Ratio Since February 2009 (Near Beginning of QE)

    08/08/2013 10:50:50 AM PDT · by whitedog57
    Confounded Interest ^ | 08/08/2013 | Anthony B. Sanders
    Today’s 30 year Treasury auction was similar to the 10 year auction from earlier this week. 30yraucr Specifically, the bid to cover ratio fell to the 2nd lowest point since February 2009. 30yrbcover February 2009 is near the beginning of QE. 04-qe-timeline Falling bid to cover reflects concerns about the Fed tapering (aka, removing the punch bowl). punchbowl
  • Spin rate of black holes pinned down

    08/08/2013 1:35:04 AM PDT · by LibWhacker · 12 replies
    Nature ^ | 8/6/13 | Eugenie Samuel Reich
    Black holes can be described by just two fundamental characteristics: mass and spin. Astronomers have been able to measure the objects’ mass for decades, by looking for gravitational effects on the orbits of nearby stars. But measuring spin, which records the angular momentum of the matter that falls into the holes, has proved troublesome, particularly for the supermassive black holes that lie at the centres of galaxies. No light emanates from the black holes’ spinning event horizons, so astronomers instead look for proxies that emit X-rays, such as the swirling disks of matter that feed into some holes. Such indirect...
  • Bernanke Testifies in House Tomorrow – All-time Low Velocity is NOT Evidence of Success

    07/16/2013 2:53:57 PM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 07/16/2013 | Anthony B. Sanders
    Tomorrow, Federal Reserve Chairman Ben Bernanke will testify in the House Financial Services Committee tomorrow. Certainly, Chairman Bernanke will tout bubbles in the stock market, bond market and he might even discuss a possible housing bubble. But other than bubbles, Congressmen need to ask Mr. Bernanke about the painfully slow real GDP growth and employment recovery. Both Goldman Sachs and JP Morgan Chase have lowered Q2 Real GDP growth to 1%. Retail sales, although in Q3, were disappointing in today’s release. usretail071513 Tepid GDP growth and rising adjusted monetary base is not a great combination. moneyrelgdp As a consequence, M2...
  • Mortgage Purchase and Refi Applications Drop with Mortgage Rate Increases (Size Falls Too)

    07/03/2013 8:03:18 AM PDT · by whitedog57 · 1 replies
    Confounded Interest ^ | 07/03/2013 | Anthony B. Sanders
    According to the Mortgage Bankers Association (MBA), the seasonally adjusted Purchase Index decreased 3 percent from one week earlier. The Refinance Index decreased 16 percent from the previous week and is at its lowest level since July 2011. mbaindice070313 The level of mortgage purchase applications have fallen since May 1st when Treasury and mortgage rates (red) started rising. mbap070313 The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) increased to 4.58 percent, the highest rate since July 2011, from 4.46 percent, with points increasing to 0.43 from 0.35 (including the origination fee) for...
  • Rising Sovereign Yields and Mortgage Rates – US and Japan

    06/30/2013 6:28:40 PM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 06/30/2013 | Anthony B. Sanders
    Since May 1st, both US Treasury yields and Japanese sovereign yields have risen, but mostly the US Treasury yields. usjapyc063013 And with the rise in sovereign yields, mortgage rates in both the US and Japan have risen. japausmortgagerates Both US and Japanese house prices were deflating since 2008, but Japan (in red) continues to deflate while the US house prices (in blue) are showing a sudden increase … again. usjaphouse In Japan, mortgages secured by housing has been declining since 1992, but started to stabilize in 2007 when US mortgage volume started to fall. mortgvoljapanuse So, how will rising mortgage...
  • Markets Are Falling, Interest Rates Are Spiking Again, And China Got DESTROYED

    06/24/2013 4:05:54 AM PDT · by blam · 24 replies
    Business Insider ^ | 6-24-2013 | Joe Weisenthal
    Markets Are Falling, Interest Rates Are Spiking Again, And China Got DESTROYED Joe Weisenthal June 24, 2013, 4:13 AMREUTERS/Aly Song People look at an electronic board at a Shanghai brokerage house. A few weeks ago all the talk was about Japan. Now the focus turns to China. Last week we saw a surge in short-term interbank lending rates spark fears of a credit crisis. Today: market crash. The Shanghai Composite fell 5.3%, as the saddest index in the world continues to plummet. A big contributor to this was a message from the People's Bank of China telling banks that their...
  • Homeowners Insurance Tops Inflation by 691%

    06/21/2013 7:56:08 PM PDT · by NaturalBornConservative · 27 replies
    Natural Born Conservative ^ | June 21, 2013 | Larry Walker Jr
    Caveat Emptor- By: Larry Walker, II -Have you checked your homeowner’s insurance policy lately?I’ve been with the same insurer for over 10 years through two residences. Even with the previous company my homeowner’s rates stayed about the same from 1998 through 2007. During a recent review, I discovered that my basic coverage amounts (i.e. dwelling, private structures, personal property and loss of use) have been inflated by around 3.0% annually since 2007, or slightly higher than the general inflation rate, and although I sort of get that, albeit the cost to rebuild is now around 150 times current fair market...
  • Treasury Rates Rise Again, MBS Duration Increases (Market Finds A Way)

    06/21/2013 9:05:47 AM PDT · by whitedog57 · 32 replies
    Confounded Interest ^ | 06/21/2013 | Anthony B. Sanders
    Now that we know that The Fed is likely to withdraw its stimulus over the next year, global sovereign rates are rising. And the US Treasury 10 year continues to rise. Then there was this tantalizing story in the Wall Street Journal. Bernanke: Majority of Fed Officials Don’t Expect to Sell MBS The good news? MBS pay down quickly because of prepayments and other mortgage terminations. Hence, mortgage duration is fairly low. The bad news? Duration of Fannie Mae 4% MBS was 0.5 on September 25, 2012 and is now at 5.8 (thanks to rising Treasury rates). So, as Treasury...
  • Rise in Interest Rates Puzzles Fed (10 Year Treasury Yields Rise 16.7 BPS)

    06/19/2013 3:14:37 PM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 06/19/2013 | Anthony B. Sanders
    Fed Chair Ben Bernanke held a Q&A after the Fed’s announcement of … no changes in monetary policy. But they might in future meetings. That was predicted by virtually everyone. But the surprise was in the Q&A session. QUESTION: Mr. Chairman, you’ve always argued that it’s the stock of assets that the Federal Reserve holds which affects long-term interest rates. How do you reconcile that with the very sharp rise in real interest rates that we’ve seen in recent weeks? And do you think the market is correctly interpreting what you think is most likely to be the future path...
  • Bernanke’s Tape Worm: Can It Be Killed (Or Tapered) Without Pain?

    06/18/2013 5:53:16 PM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 06/18/2013 | Anthony B. Sanders
    Tomorrow, The Fed’s Open Market Committee (FOMC) meets to decide its strategy for monetary easing or tightening. The question that has been talked about in the news is The Fed “tapering” its easing (better known as tightening). There are some good reasons for The Fed to kill its tape worm (or begin tapering). First, The Fed’s balance sheet has swollen to over $3.3 trillion, including Treasuries and Agency MBS. Second, the duration (risk) of Agency MBS (such as the Fannie Mae 4% MBS) has increased dramatically recently. Third, the yield curve in the US (and Japan) has risen since May...
  • California Regulators Hide Obamacare Rate Shock With Misleading Comparison

    05/30/2013 5:55:08 PM PDT · by grundle · 3 replies
    Reason ^ | May 30, 2013 | Peter Suderman
    Do recently announced insurance rates for California's health exchange prove that worries about rate shock for health premiums are overblown? Not really. If anything, they suggest that concerns about big premium increases remain legitimate. At the end of last year, California’s health insurance regulators wrote a letter to Health and Human Services Secretary Kathleen Sebelius warning that state officials expected health insurance “rate shock as markets transition to [Obamacare’s] rating rules.” But last week, after insurers participating in California’s health insurance exchange announced rates for the first year, supporters of the health care law were quick to declare that there...
  • Is The 511th Rate Cut Since June 2007 The Charm? Central Banks Struggling to Stimulate Growth

    05/09/2013 6:21:30 PM PDT · by whitedog57
    Confounded Interest ^ | 05/09/2013 | Anthony B. Sanders
    On Fox Business’ Varney and Company today, Stuart Varney asked me about mortgage foreclosures. Are they ending? I said sure, “As long as The Fed doesn’t take away the punch bowl.” Will The Fed take away the punch bowl? Not likely. Sputh Korea just reduced their interest rate making it the 511th rate cut by a Central Bank since June 2007. That’s a whole lot of rate cuts! Sovereign rates are dropping towards the zero barrier. But the GDP growth rates in Europe are stagnant at best. At least China and Australia are experiencing above 3% real GDP growth. In...
  • Shocker! Fed … Doesn’t Change Anything (Keeps Buying $85B Per Month Until Unemployment Hits 6.5%)

    05/01/2013 12:07:31 PM PDT · by whitedog57 · 7 replies
    Confounded Interest ^ | 05/01/2013 | Anthony B. Sanders
    <p>Washington (AP) — The Federal Reserve on Wednesday stood by its extraordinary efforts to stimulate the economy. And it signaled that it could increase or decrease the pace of bond purchases depending on how the job market and inflation perform.</p>
  • Fed Could Have Pushed Down Interest Rates Without QE (and Printing Money)

    04/28/2013 11:20:05 AM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 04/28/2013 | Anthony B. Sanders
    During 2006, the slope of the US Treasury Curve (10 yr – 2 yr) slightly negative. Beginning in 2007, the curve began steepening, particularly in the latter half. The 10-2 curve kept steepening through 2008. Enter The Federal Reserve. Starting in September 2007 and through December 2008, The Fed reduced The Fed Funds Target Rate from 5.25% to 0.25% where it has remained. While The Fed has pinned The Fed Funds Target Rate at 0.25%, the 10-2 slope has continued to rise, partly due to the various quantitative easing programs starting in December 2008. Quantitative Easing 1 (QE1, December 2008...
  • Does Congress Have the Authority to Tax Americans At Different Rates?

    01/02/2013 6:18:54 PM PST · by TurboZamboni · 22 replies
    political outcast ^ | 1-2-13 | Gary DeMar
    The 16th Amendment gave the Federal Government the authority and power to tax every citizen. Here’s the wording of the Amendment: “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.” Please note that there is no provision in this amendment that Congress is given the right to unequally apply this power. In looking over all the Constitution’s amendments, I don’t see an unequal distribution of either a freedom or limitation. Equality under the law requires that as each of...
  • New year + new health care law = new tax rates

    01/01/2013 5:26:40 AM PST · by TurboZamboni · 5 replies
    pioneer press ^ | 12-31-12 | Tony Pugh
    WASHINGTON -- The tax man is coming in 2013. And he's wearing surgical scrubs and has a stethoscope around his neck. Five new tax increases take effect Jan. 1 to help pay for the nation's health care overhaul. New provisions of the Affordable Care Act require affluent taxpayers to pay more for Medicare and, for the first time, have their investment income subject to Medicare taxes as well. Also, people who use flexible spending accounts for health care expenses will pay higher taxes. And taxpayers who spend a lot out of pocket on their health care will find it harder...
  • Anthem Blue Cross seeks to raise individual policyholders' rates

    11/28/2012 5:30:38 PM PST · by Nachum · 34 replies
    L.A. Times ^ | 11/28/12 | Chad Terhune
    California´s largest for-profit health insurer, Anthem Blue Cross, is seeking to raise rates an average of 18% for more than 630,000 individual policyholders, drawing scrutiny from regulators and the ire of consumers already struggling with soaring premiums. Some Anthem customers may see rates rise as much as 25% in February under the company´s proposal at a time when medical inflation is running at historic lows nationwide. The increases are among several others proposed by California insurers, including Aetna Inc. and Health Net Inc. California insurance regulators will take the next month to review whether these rate increases are warranted,
  • Pelosi: Tax rates must go up on rich

    11/18/2012 11:21:31 AM PST · by Libloather · 56 replies
    Politico ^ | 11/18/12 | SEUNG MIN KIM
    Pelosi: Tax rates must go up on richBy SEUNG MIN KIM | 11/18/12 10:30 AM EST **SNIP** “The president made it very clear in his campaign that there is not enough -- there are not enough resources,” Pelosi said in an interview aired Sunday on ABC's “This Week. “Just to close loopholes is far too little money … If it's going to bring in revenue, the president has been very clear that the higher income people have to pay their fair share.”
  • Obama’s Middle-Class Tax Hike

    10/04/2012 5:29:56 AM PDT · by SeekAndFind · 2 replies
    National Review ^ | 10/04/2012 | The Editors
    Democrats have been saying — or, in the case of Joe Biden, trying to say — that Mitt Romney plans to raise taxes on the middle class. This claim is flatly untrue. The word “lie” probably is thrown around too casually in our politics, but this qualifies. Romney has no such plan, has forsworn taking such a course of action, and has in fact proposed to cut tax rates for the middle class — and everybody else who pays the federal income tax — by reducing all brackets by 20 percent. Romney’s plan would be revenue-neutral, making up for forgone...
  • 5 Myths About America's Tax System That You Probably Believe

    09/25/2012 10:44:57 AM PDT · by bthockey · 15 replies
    The Band Of Patriots ^ | 9/25/12 | Bryan Thomas
    Most mainstream media outlets aide in the proliferation of myths about our tax system and our economy. Here are 5 myths about the US tax system that you probably thought were true. 1. Once A Millionaire, Always A Millionaire As you can see by the graph below, this shows how many consecutive years millionaires file their taxes as millionaires. Half of the people who become millionaires are only at that status for one year.​ 2. Tax Credits Only Help The Rich This graph shows the effective tax rates since 1980. As you can see, because of tax credits and deductions,...
  • Electric rates not falling along with fuel costs

    07/12/2012 3:26:28 PM PDT · by Timber Rattler · 9 replies
    AP, via ^ | July 11, 2012 | JONATHAN FAHEY
    A plunge in the price of natural gas has made it cheaper for utilities to produce electricity. But the savings aren't translating to lower rates for customers. Instead, U.S. electricity prices are going up. Electricity prices are forecast to rise slightly this summer. But any increase is noteworthy because natural gas, which is used to produce nearly a third of the country's power, is 43 percent cheaper than a year ago. A long-term downward trend in power prices could be starting to reverse, analysts say. "It's caused us to scratch our heads," says Tyler Hodge, an analyst at the Energy...
  • Senate Democrats balk at ending Bush-era tax rates for wealthy (reelection problems)

    06/19/2012 2:52:23 AM PDT · by Libloather · 9 replies
    The Hill ^ | 6/19/12 | Alexander Bolton
    Senate Democrats balk at ending Bush-era tax rates for wealthyBy Alexander Bolton - 06/19/12 05:00 AM ET A growing number of Senate Democrats are signaling they are not prepared to raise taxes on anyone in the weak economy unless Congress approves a grand bargain to reduce the deficit. At least seven Democratic senators have declined to rule out supporting a temporary extension of the Bush-era income tax rates, breaking with party leaders who have called for letting the rates expire for people earning more than $1 million per year. That gives Senate Republicans a chance to push a temporary extension...
  • Pelosi joins Democrats' push for Republicans to act on student loan rates (What about Hussein?)

    04/21/2012 10:01:03 PM PDT · by Libloather · 25 replies
    The Hill ^ | 4/21/12 | Mike Lillis
    Pelosi joins Democrats' push for Republicans to act on student loan ratesBy Mike Lillis - 04/21/12 11:11 AM ET The leading House Democrat on Saturday joined President Obama in calling on Republicans to extend low interest rates on student loans. House Minority Leader Nancy Pelosi warned that allowing rates to jump, as they're scheduled to do this summer, would put college "further out of reach" for middle class families struggling in the still-limping economy. "[I]f Republicans don't act, interest rates are set to double this July, and more than seven million borrowers will find themselves paying more," Pelosi said Saturday...
  • Does Hiking Tax Rates Raise More Revenue?

    04/09/2012 8:31:38 AM PDT · by Son House · 19 replies ^ | July 2, 2010 | Kurt Brouwer
    We really don’t know what the optimum tax rate would be that maintains revenues at 18-20% of GDP while allowing for maximum GDP growth, but we do know that economic growth is good for everyone and as the economy grows, tax revenues grow automatically. Ideally, our leaders in Washington would try to figure out the optimum tax structure to generate revenues at 18-20% of GDP while stimulating economic growth. Once that level is determined, I believe they should set the rate and forget it. Unfortunately, tinkering with the tax code seems to be irresistible to almost all politicians. In addition,...
  • Schumer calls on Congress to address rising student loan rates by summer

    04/07/2012 6:12:06 PM PDT · by Libloather · 18 replies
    The Hill ^ | 4/06/12 | Ramsey Cox
    Schumer calls on Congress to address rising student loan rates by summerBy Ramsey Cox - 04/06/12 03:08 PM ET Sen. Charles Schumer (D-N.Y.) on Thursday announced his support for a bill to extend a reduced student loan rate for one year. In July, the interest rates on federally subsidized Stafford Loans will double from 3.4 percent to 6.8 percent unless Congress acts. Schumer called on Congress to pass Sen. Jack Reed's (D-R.I.) bill, S. 2051, which is pending in the Senate Health, Education, Labor and Pensions Committee. "Rising interest loan rates sound like nails on the chalkboard for New York’s...
  • Keeping Rates Low Until 2014?

    01/27/2012 1:01:48 PM PST · by Razzz42 · 5 replies
    Armstrong Economics ^ | January 26, 2012 | Martin Armstrong
    While the first reaction is for gold to rally and the pundits to come screaming out of the weeds yelling it’s inflationary, the harsh reality of this statement is actually DEFLATIONARY and not INFLATIONARY. The assumption is that the Fed will keep money cheap and that will mean more inflation. However, this is actually an international demonstration of pure insanity – the attempt to keep applying the same methods and expecting a different result than what was achieved in the past or in Japan. Those prognosticating INFLATION will be left behind just watching as has been the case all along....
  • Hotel rates zoom for Democratic National Convention (RATS in Charlotte - 99%ers forgotten)

    01/07/2012 6:13:39 PM PST · by Libloather · 13 replies
    Charlotte Observer ^ | 12/27/11 | Celeste Smith
    Hotel rates zoom for Democratic National ConventionBy Celeste Smith Posted: Tuesday, Dec. 27, 2011 Room rates are going up in a big way at some area hotels during the Democratic National Convention. The markups - quadruple or more in some cases - don't affect the convention's official attendees. DNC organizers already reserved rooms and locked in rates for 6,000-plus delegates, VIPs and others during the Sept. 3-6 convention. **SNIP** Among the most expensive spaces: Holiday Inn Express Suites East Matthews, charging $849.15 to $1,014 per night during the stretch of Aug. 31 to Sept. 7 and Aug. 24 to Aug....
  • Tax Rates, Inequality and the 1%

    12/07/2011 3:32:29 PM PST · by WOBBLY BOB · 3 replies
    WSJ ^ | 12-6-11 | alan reynolds
    In short, what the Congressional Budget Office presents as increased inequality from 2003 to 2007 was actually evidence that the top 1% of earners report more taxable income when tax rates are reduced on dividends, capital gains and businesses filing under the individual tax code. If Congress raises top individual tax rates much above the corporate rate, many billions in business income would rapidly vanish from the individual tax returns the CBO uses to measure the income of the top 1%. Small businesses and professionals would revert to reporting most income on corporate tax returns as they did in 1979.
  • Chicago Tribune doubling, tripling subscription rates

    11/23/2011 5:56:54 AM PST · by AT7Saluki · 10 replies
    Chicago Business ^ | 11/22/11 | Lynne Marek
    Chicago Tribune is doubling and tripling weekday delivery rates for some readers when their subscriptions come up for renewal. The newspaper, a unit of Chicago-based Tribune Co., has sent some subscribers letters notifying them of the increases; others have simply seen a higher price show up on their credit card bills. The size of the rate jump depends on what a customer was paying previously. “I'm writing to let you know that while we worked hard to maintain pricing in this challenging economy and industry for the last couple years, your current pricing is about to expire,” one letter to...