From the category archives:
To help Americans pay for the increasing price of a gallon of gas, Hillary Clinton is suggesting a suspension of the 18.4 cent per gallon tax on gasoline and 24.4 cent per gallon tax on diesel from Memorial Day through Labor Day while enacting a “windfall profits” tax on the oil companies which have been ... Continue reading this article…
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The Federal Reserve may soon become much more powerful if Treasury Secretary Henry Paulson has his way. Earlier today, he released the “Blueprint for a Modernized Financial Regulatory Structure,” which includes a number of recommendations designed to take power away from the U.S. Securities and Exchange Commission. Paulson’s recommendations The Federal Reserve should ... Continue reading this article…
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CNN Money is featuring stories of 15 households that are facing dire financial straits thanks to the economic downturn. Even a rebate check this summer won’t go far to help these families. While some better decisions may have helped them prepare for the direct effects of a recession, hindsight is always 20/20. ... Continue reading this article…
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While I was having dinner with my father last night, the Federal Reserve lowered the interest rate at which it loans money to central banks. While my family and I were discussing the economy (among a number of other more interesting topics), Ben Bernanke was actually doing something. Will the move help? ... Continue reading this article…
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Are you concerned about your ability to maintain your current financial position? I am. Sure, I have an emergency fund, a significant cash cushion beyond the emergency fund, and steady income. But I have taken on risk. My long term investments are invested in the stock market which has proven to ... Continue reading this article…
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There’s no need for me to explain in detail the favored tax policy by each of the four leading candidates for the President of the United States for two reasons. First, Jeanne Sahadi wrote an excellent tax policy summary for Hillary Clinton, Barack Obama, John McCain and Mitt Romney. Secondly, the candidates’ stances ... Continue reading this article…
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Welcome! If you’re new here, please consider subscribing to the Consumerism Commentary RSS feed! This article is for tax year 2008. For 2009 and beyond, see our roundup of 8 (or more) Ways to Benefit from the American Recovery and Reinvestment Act of 2009 (AKA Stimulus Plan). Updated March 18, 2008 with an estimated schedule of payments. President ... Continue reading this article…
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I’m glad everyone is excited about receiving checks from the government in June or July, but there seems to be a misunderstanding amongst people I talk to. While President Bush and a contingent of the legistlative branch have agreed on the propsed details, the bill still has to pass the House and the Senate. ... Continue reading this article…
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On my way into work this morning, I heard that Ben Bernanke and the Federal Reserve Board cut the target rate for banks’ short-term lending to 3.5 percent. This makes it more worthwhile for banks to take on more risk with their money, lending it out in cases where they’ve been tight lately. The ... Continue reading this article…
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President Bush is suggesting a $145 billion rebate to taxpayers in order to stimulate the economy and avoid economic recession in 2008. About $100 billion is reserved for individual tax payers and the rest is for businesses. This could come to the masses in the form of a $800 tax rebate check for ... Continue reading this article…
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New Jersey Governor Jon Corzine announced yesterday a plan to raise money in New Jersey to issue bonds in a public benefits corporation that will manage the toll roads. The bonds will be paid back through a series of toll increases. Starting in 2010 and every four years until 2022, toll prices on ... Continue reading this article…
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Forget what the government tells you about the inflation rate, known to economists as the CPI. The CPI may come into play when dealing with economical issues, but don’t expect your real expenses to increase at a rate nearly as low as the rate quoted by officials. First of all, the CPI doesn’t ... Continue reading this article…
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Congress will likely pass a bill this week that will have a positive effect on global warming. The bill requires requires light bulb manufacturers to create products that consume 25 percent to 30 percent less energy than the typical incandescent bulbs on the market today by 2012 to 2014. The goal doesn’t end there; by ... Continue reading this article…
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Money Magazine has an eye-opening look inside the personal financial reports of the leading presidential candidates, including asset allocations and income sources. The article points out anything out of the ordinary with the candidates’ holdings and even offers money management suggestions from a financial adviser. Hillary Clinton. Net worth: $34.9 million. 2006 income: $12.1 ... Continue reading this article…
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The U.S. dollar hit record lows today due to concerns that China might shift its foreign exchange holdings elsewhere. I’d been concerned before when I first heard that the Canadian dollar was ahead of our own, but today, The Guardian reported that the American dollar had reached a 26-year low against the British pound: By ... Continue reading this article…
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Newsweek in an upcoming article has taken note of a changing trend. Americans who in the past several years would choose certain items important to them on an individual level and spend more, this behavior is changing. Expensive coffee drinks, shoes, entertainment are some examples. People with a passion for a product ... Continue reading this article…
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A study by a group of research organizations have determined that men in their thirties are earning less, when adjusted for inflation, than their fathers earned in their thirties. Studies like this help to explain the reported financial condition of younger households throughout the United States. Relying on Census Bureau figures, the study’s ... Continue reading this article…
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While it will probably be vetoed by the White House, the House of Representatives passed a bill designed to prevent price-gouging at the gas pump after catastrophes, like Hurricane Katrina or Hurricane Charley (NY Times). The House bill would give the FTC “the explicit authority to investigate and punish those who artificially inflate the ... Continue reading this article…
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Jon Corzine, the governor of New Jersey, was in an accident a few weeks ago. He was badly hurt because he wasn’t wearing a seat belt at the time. He fractured his thigh, ribs, and other bones and spent some time in a hospital. He’ll be spending even more time rehabilitating. He wasn’t ... Continue reading this article…
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What are the expert economists saying about the state of the dollar throughout the year? James Pethokoukis from U.S. News & World Report assembled some opinions on the dollar’s predicted performance for the paper’s Annual Investing Guide. The big issue is the trade deficit. The dollar has been falling, so will foreign ... Continue reading this article…
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