What the Recession Really Cost American Families
How much did the Great Recession set back American families? One answer, provided by the Federal Reserve last week (PDF) , is 38.8 percent. That’s how much the median net worth of American families fell from 2007 to 2010 – or in dollar terms, from $126,400 to $77,300, according to data from the Fed’s Survey […]
Video – Tax Break Nears End for Online Shoppers – WSJ.com
Video – Tax Break Nears End for Online Shoppers – WSJ.com. For you online shoppers – say goodbye to paying “no sales tax” on internet purchases. In the near future, expect most large sellers to collect sales tax from you.
Why Would Anyone Pay the Penalty for Being Uninsured? – Hit & Run : Reason.com
ObamaCare’s “tax” upon those who don’t obtain health insurance is toothless. Starting in 2014, you either have to produce proof to the IRS that you have health insurance (the individual mandate) or pay a penalty/tax. However, if you choose to ignore paying the “tax” then the worst that can happen is the IRS retains any […]
California’s Latest Misguided Attempt to Solve the Housing Crisis – Reason.com
This is a troubling abuse of government power to advance the interests of private parties. Likewise, the only beneficiaries from the Homeowners Bill of Rights will be private attorneys who gain a new target. These laws aren’t about fixing the mortgage crisis. They are about special interests using government to help them get their piece […]
You Have an 85 Percent Chance of Being Poor – Reason.com
Before they reach the age of 60, 85 percent of Americans will experience economic insecurity at some point. On the other hand, nearly 77 percent of Americans will have lived in a household earning more than $100,000 for at least one year, and 21 percent will have enjoyed living in households earning $250,000 for at […]
Video – U.S. Weans Itself Off Mideast Oil – WSJ.com
There is an old saying about “necessity being the mother of invention.” For decades, experts have been declaring the US is “running out of oil” and that we all need to start driving smaller cars/electric cars, etc… Yet, in an example of Economics 101 the rising fuel prices over the past decade have spurred new […]
America’s New Tiger Immigrants: Asians in the U.S. – WSJ.com
From this weekend’s Wall Street Journal as to why there are currently more immigrants moving to the US from Asian countries than Hispanic countries. “The conventional picture is of an unstoppable wave of unskilled, mostly Spanish-speaking workers—many illegal—coming across the Mexican border. People who see immigration this way fear that, instead of America assimilating the […]
Bank of America acquisition of Countrywide adds up to $40 billion in losses, says Wall Street Journal – Charlotte Business Journal
In a report published online Friday, the Journal quotes local banking expert Tony Plath, a finance professor at UNC Charlotte. “It is the worst deal in the history of American finance,” he said. “Hands down.” The article adds up the numerous losses and legal settlements and cites anonymous sources to come up with its $40 […]
On Orbitz, Mac Users Steered to Pricier Hotels – WSJ.com
Orbitz Worldwide Inc. OWW 0.00% has found that people who use Apple Inc.’s AAPL +0.22% Mac computers spend as much as 30% more a night on hotels, so the online travel agency is starting to show them different, and sometimes costlier, travel options than Windows visitors see. via On Orbitz, Mac Users Steered to Pricier Hotels – […]
State’s unemployment rate up from previous month, but people optimistic
State’s unemployment rate up from previous month, but people optimistic.