Category: Economy

R.I.P Herman Cain There has been a lot of news lately on Republican presidential candidate Herman Cain's 999 plan. As the new darling and front runner for the parties presidential nomination, Cain's tax plan has gone from a joke (e.g. the price of a pizza) to getting some serious, albeit…

[Update Sep 2011] - President Obama has revealed details on his new $447 billion Americans Jobs Act and it is pretty much in line with what I had referenced in my earlier update (see below) before his speech. Here are the main things he is proposing that now go to…

[2013 Update] As I was updating this article, originally written in mid-2011 following the first debt ceiling deal, I got a major sense of deja-vu. After 18 months we are back in the same place with a dysfunctional Congress who barely passed legislation to avert the fiscal cliff.  But it's…

Is $68,000 considered a good income that you and your family can comfortably live on? Probably not in most places, but this is roughly the median income of the average American household in 2019 (before the pandemic!). Or stated another way - 50% of households make less than this amount, while…

The US Bureau of Economic Analysis has released the 2010 Gross Domestic Product (GDP) figures which showed a 2.6% average increase across the nation. As the graphic below shows 48 states and Washington DC experienced real GDP growth, led by the eastern seaboard states. Texas, North Dakota and Oregon were…

Following on the heels of the protracted budget extension debate and as a precursor to the fight for raising the $14.3 trillion national debt ceiling, President Obama has revealed his high level plan to tackle America's growing  national debt challenge. His debt plan is also a response to the Republican's 2012 budget plans…

So what will the year ahead look like for the US and global economy? Last year was a year of recovery, but it was sputtering and many questioned whether the recovery was real and if it could be sustained. As we head in to 2011 things are looking brighter following a…

[Update - No New Taxes with Tax Extensions Approved] President Obama has now signed into law a bill that covers a temporary extension of all the bush-era tax cuts. The new bill also contains extensions to some of the 2008 stimulus tax breaks, and even has some new tax cuts. With…

The US Census bureau collects and publishes the most timely and accurate income data on an annual basis, which make for interesting reading from a personal finance perspective. Income is primarily earnings from a job, but includes Social Security payments, pensions, child support, public assistance, annuities, money derived from rental…

This is a guest post by Tony Parker, an outspoken business owner and investor, looking at the intersection of politics and money. While I don’t agree with all his views (see my rebuttal in the comments section) I do think he makes some valid points worth discussing. Please share your…

See this article on a potential 4th economic stimulus check. _____________________________ In a recent town hall, following the approval of yet another home buyer credit extension, the President said his economic stimulus programs did their job by staving off another Great Depression. The administration often touts that the stimulus package…

[Updated] Approved! Congress and the President have approved the financial reform bill (detailed below) that would revamp the nation's financial regulatory system. It will allow for the creation of a consumer financial protection bureau at the Federal Reserve, give regulators new powers to liquidate failing financial firms whose collapse would threaten the economy and…

[Updated with New IRS provisions] The IRS has released more details on tax-saving opportunities included in recently enacted HIRE act federal legislation (see details in previous update below). A variety of business tax deductions and credits were created, extended and expanded by the American Recovery and Reinvestment Act of 2009…