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Economy

It’s Not Just About the $400 Tax Credit

by Smithee

When talking about the 790 billion dollar stimulus bill currently nearing the end of its congressional marathon, it’s tempting for people to focus on the direct, short-term benefits, namely a $400 tax credit, and how such a thing won’t go very far in benefiting most people. I tend to agree, but I’m also the first […]

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Senate and House of Representatives Agree on Stimulus Bill Compromise

by Luke Landes

In the past few minutes, the conference including the Senate and the House of Representatives was concluded. They’ve come to a compromise between the two versions of the economic stimulus bill to be sent to the President of the United States to be signed into law. I’ll post more details when the Congress provides them. […]

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How Obama’s 2009 Economic Stimulus Will Affect You

by Luke Landes

If President Obama’s economic stimulus plan is signed into law is it currently stands, individuals stand to receive a tax credit of $500 and couples stand to receive a tax credit of $1,000. Provided you’re not disqualified for earning too much money, $75,000 for an individual or $150,000 for a couple. Taxpayers might receive this […]

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Is it Time to Add a Significant National Gas Tax?

by Luke Landes

At the pump, gas prices are “low” now. Remember last May when Chrysler was offering a $2.99 gas guarantee while the price per gallon continued to climb towards $4.00? It seemed like a good deal at the time, but I was quite skeptical, thinking prices would eventually return and that Chrysler must have known that […]

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Barack Obama’s 2009 Economic Stimulus Plan

by Luke Landes

Updated March 20, 2009: The stimulus plan has become a law, and we’ve rounded up the many ways you can benefit. President-Elect Barack Obama pitched his economic stimulus proposal to Congress earlier this week. Here are the main points. The total cost is $775 billion over two years. Tax cuts and breaks will account for […]

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The Mythical Demise of Social Security

by Luke Landes

About the author: This guest post comes to you from Mr. ToughMoneyLove, a baby boomer who dishes the hard truth about money and personal finance at his Tough Money Love blog. I cannot count the number of times I have seen or heard statements proclaiming with great certainty that Social Security will “disappear” or that […]

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Fed Cuts Two Rates: Federal Funds Target Rate and Discount Rate

by Luke Landes

The Federal Reserve Board responded to the economy yesterday by lowering the target for the federal funds rate to 1 percent and the discount rate to 1.25 percent. The first number is the rate usually in the news. The federal funds rate is the interest rate that banks charge to lend their balances to one another. If […]

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Economy in Shambles, Times are Tough: Oh Really?

by Luke Landes

Yesterday, the Dow Jones Industrial Average lost 514 points, making October 22 yet another day among the top ten worst days on Wall Street. But it’s the credit crunch that we’re feeling on Main Street. Until the banks start lending to each other again, it’s difficult for small businesses and individuals to find loans necessary […]

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John McCain’s Proposal to Ease the Economic Crisis

by Luke Landes

Following Barack Obama’s proposals announced earlier, Republican candidate John McCain has outlined the steps he would take as president to help spur the economy in the United States. 1. Eliminate taxes on unemployment benefits. Like the Democratic candidate, McCain suggests eliminating taxes on unemployment insurance to make sure that those individuals out of work have […]

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Barack Obama Proposes Six Ideas to Ease the Economic Crisis

by Luke Landes

Each major presidential candidate is making his presence known and ensuring his name is constantly in the media as next month’s election approaches. Recently, Democratic candidate Barack Obama announced six action steps to help heal the economy in this country and across the world. Five of these are “new” ideas, and one was originally proposed […]

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