It seems many of those who took advantage of the ‘Cash For Clunkers‘ program didn’t think about the tax implications. Yep. That US Government rebate of $3,500 or $4,500 is counted as cash in your hands, thereby attracting at least State income tax, if not Federal as well (I don’t know if C.F.C. money is… Continue reading The sting in the ‘Cash For Clunkers’ tail
Tag: Economics
Epijunky needs our help
Those of you who’ve browsed my reciprocal blogroll will have come across a blog called Pink, Warm and Dry. It’s written by a lady whose nom-de-blog is Epijunky, and who works in EMS. She recently made the decision to attend medic school, but has run into difficulties arranging financing for her studies – not surprising,… Continue reading Epijunky needs our help
I just don’t get it
I’m somewhat bemused to read a report of a woman who’s moving her husband’s body from its present location to her own crypt, so that she can sell his grave – sited directly above that of Marilyn Monroe – to the highest bidder. The BBC reports: “Spend eternity directly above Marilyn Monroe”, says the ad… Continue reading I just don’t get it
At last – it’s Cost Of Government Day!
According to the Center for Fiscal Accountability, a project of Americans for Tax Reform, August 12th, 2009 was ‘Cost Of Government Day’ this year. Every year, the Americans for Tax Reform Foundation and the Center for Fiscal Accountability calculate Cost of Government Day. This is the day on which the average American has earned enough… Continue reading At last – it’s Cost Of Government Day!
California’s financial shenanigans exposed
A lawsuit filed in California alleges that the State is issuing IOU’s in payment of its debts, in violation of applicable laws – and then expecting the recipients to pay tax on the IOU’s, which can’t be exchanged for cash! The lawsuit alleges, among other claims (link is to a PDF document): 2. Recipients of… Continue reading California’s financial shenanigans exposed
The US Debt Clock
A tip o’ the hat to Charles R. for e-mailing the link to the US Debt Clock. The snapshot version below was taken at about 9.55 p.m. tonight. (Click to view stand-alone, then again to enlarge) If you go to the US Debt Clock Web site, that screen’s updated in real time. It gives a… Continue reading The US Debt Clock
The economy: neck-deep in the proverbial brown substance
I’m sure you’ve seen some of the optimistic headlines about the economy in the news media over the past few days. A selection: CNN – “I think we’re arriving at the turn,” said Mark Zandi, chief economist at Moody’s Economy.com. “I think we’ll reach it this month, maybe September, but we’ll look back and say… Continue reading The economy: neck-deep in the proverbial brown substance
More fallout from the current economic nightmare
Powerline reports that the enormous federal deficit, run up in part by former President Bush’s administration, but trebled already under President Obama, is going to be difficult to pay off, because taxes can’t be raised without significantly impacting the economy. Tim Geithner and Alan Greenspan were on ABC’s This Week this morning; both talked about… Continue reading More fallout from the current economic nightmare
Opposing Obamacare
A tip o’ the hat to Holly for spotting this one first. The American Spectator has published an article giving an interesting perspective on how to oppose the President’s health care proposals. It’s founded solidly on fact and logic, rather than hype and emotion. A short excerpt: It’s not a crisis, but just a problem.… Continue reading Opposing Obamacare
Saving money in these hard times
I’m sure there are many of us who are tightening our belts, economically speaking, and trying to spend less in these difficult times. One way to save a whole lot of money is to look at refurbished equipment, rather than brand-new. I’ve done this for years, and on average find that I spend less than… Continue reading Saving money in these hard times