When a married couple files jointly, there are deductions available to them that are unavailable to people filing as a single. It also saves money as a couple filing jointly only has to prepare one return instead of two. Gay marriage is legal in nine states and the District of Columbia. MarketWatch discusses this issue: Much… Continue reading
Post Category → Economics
Path to Prosperity
High U.S. Income Tax Rate Has Boxing Superstar Manny Pacquiao on the Ropes We all know elections have consequences, and this is a great concrete example of how taxing the rich has consequences. Sure, the new Obama tax affects the 1%, but it also hurts our tax revenue, economy, but also the 99%. Not only… Continue reading
I Escaped the Middle Class!
Finally! I mean, my paycheck is less than it was last month so, obviously, I must have moved up the ladder since President Obama promised middle class taxes wouldn’t go up. But wait… I’m still middle class. What’s wrong with you, Mr. President?! You told me my taxes wouldn’t go up! These are the sorts… Continue reading
Just Like Doomsday, We Survived the Fiscal Cliff
Not surprisingly, Congress acted. Also not surprisingly, Congress took forever to act. Tom Brokaw said this Congress goes out as the most inept in the history of the country. Even so, they were able to reach a compromise. So, what was actually accomplished? Taxes are going up on those making more than $450,000 per year…. Continue reading
Will the GOP Compromise on Taxes?
No. At least not according to CNN. The GOP wants to keep the Bush tax cuts in place, failing to realize that’s part of the reason we’re in the economic situation we’re currently experiencing. Democrats took the GOP counter offer to mean that tax reform cannot result in any marginal rates higher than current law,… Continue reading
Geithner says Tax Rates must go Up
Secretary Geithner made the rounds on the Sunday morning shows attempting to rally support for President Obama’s plan to avoid the fiscal cliff. This plan includes, among other things, increasing taxes and reducing President Bush’s tax cuts on those making more than $250,000 per year. Here’s what Secretary Geithner said on CNN’s State of the… Continue reading
Ben Stein: Taxes are too low!
Conservative Economist Ben Stein appeared on Fox News yesterday and said something which made him fear for his life: “I hate to say this on Fox, I hope I’ll be allowed to leave here alive. But, I don’t think there’s any way we can cut spending enough to make a meaningful difference. We’re going to… Continue reading
Better Off Today?
Are you better off today than you were four years ago? You don’t need to answer for yourself; the Republicans will go ahead and answer for you: no, you’re not better off today. But, how can that be? Four years ago, weren’t we losing 800,000 jobs per month? Why, yes, we were and we were… Continue reading
716
“Under the President’s plan, he cuts Medicare by $716 billion, takes that money out of the Medicare trust fund and uses it to pay for Obamacare.” Governor Romney continues the attacks on Medicare, attempting to scare the seniors, especially those in Florida, to vote for him because the President is going to take away their… Continue reading