Archive for category Budget
Are Taxes in the U.S. High or Low?
Posted by Oksana Grebenjuk in Budget, Favourites on Июнь 9th, 2011
Historically, the term “tax rate” has meant the average or effective tax rate — that is, taxes as a share of income. The broadest measure of the tax rate is total federal revenues divided by the gross domestic product.
By this measure, federal taxes are at their lowest level in more than 60 years. The Congressional Budget Office estimated that federal taxes would consume just 14.8 percent of G.D.P. this year. The last year in which revenues were lower was 1950, according to the Office of Management and Budget.
The postwar annual average is about 18.5 percent of G.D.P. Revenues averaged 18.2 percent of G.D.P. during Ronald Reagan’s administration; the lowest percentage during that administration was 17.3 percent of G.D.P. in 1984.
In short, by the broadest measure of the tax rate, the current level is unusually low and has been for some time. Revenues were 14.9 percent of G.D.P. in both 2009 and 2010.
Yet if one listens to Republicans, one would think that taxes have never been higher, that an excessive tax burden is the most important constraint holding back economic growth and that a big tax cut is exactly what the economy needs to get growing again. Read the rest of this entry »
If you must buy a car now, here’s what to do
Posted by Oksana Grebenjuk in Budget, Favourites on Май 27th, 2011
Rising prices and a looming vehicle shortage make this summer one of the worst times in years to go car shopping. But if your vehicle is on its last leg or your lease is about to come due, here are some tips on how to navigate through a difficult market.
• Consider cars with incentives: Manufacturers still offer some incentives, especially for cars that are near the end of their model cycle or are slow sellers. Most of the big auto information companies, including Edmunds.com, TrueCar.Com and kbb.com (Kelley Blue Book), offer incentive data on their websites.
• Check supply: While inventories are tightening across the board, some manufacturers will have ample inventory for some vehicles, and these will have the better deals. TrueCar’s TrueTrends report offers a monthly listing of new vehicles with the shortest and longest days’ inventory. This month’s report, for example, will tell you that Hyundai dealers have only an eight-day supply of their hot-selling Elantra sedan. It’s also tough to find a Ford Explorer — only a nine-day inventory. But if you want a BMW Z4, start shopping. The Z4 is about to be replaced with a new-generation model, and BMW dealers have a fat 161-day supply — more than five months’ worth. Similarly, Hyundai dealers are sitting on a 133-day inventory of the automaker’s Azera sedan.
• Be a contrarian: For now, that means bigger. With many buyers gravitating to smaller, fuel-efficient vehicles, consider buying something that drinks a bit more gas. Yes, it will cost you more each time you go to the pump, but with small-car prices going up rapidly you might find that the price gap between a compact vehicle and something larger has narrowed considerably. Large cars and trucks have the biggest discounts this month, and that’s likely to be the case throughout the summer. Read the rest of this entry »
‘Like’ Button Follows Web Users
Posted by Oksana Grebenjuk in Budget, Favourites on Май 23rd, 2011
Internet users tap Facebook Inc.’s «Like» and Twitter Inc.’s «Tweet» buttons to share content with friends. But these tools also let their makers collect data about the websites people are visiting.
These so-called social widgets, which appear atop stories on news sites or alongside products on retail sites, notify Facebook and Twitter that a person visited those sites even when users don’t click on the buttons, according to a study done for The Wall Street Journal.
These widgets are prolific. They have been added to millions of web pages in the past year. Facebook’s buttons appear on a third of the world’s 1,000 most-visited websites, according to the study. Buttons from Twitter and Google Inc. appear on 20% and 25% of those sites, respectively.
The widgets, which were created to make it easy to share content with friends and to help websites attract visitors, are a potentially powerful way to track Internet users. They could link users’ browsing habits to their social-networking profile, which often contains their name. Read the rest of this entry »
The richest counties in America
Posted by Oksana Grebenjuk in Budget, Favourites on Апрель 29th, 2011
The residents of America’s 100 largest counties collectively earned a cool $5.86 trillion in 2009. That’s trillion with a T.
California’s Los Angeles County led the way with total personal income (TPI) of $402.46 billion, according to newly released figures from the U.S. Bureau of Economic Analysis.
The runners-up in total personal income were:
Cook County, Ill. (Chicago) — $244.06 billion
Harris County, Texas (Houston) — $196.78 billion
New York County, N.Y., a/k/a Manhattan — $171.95 billion
Orange County, California (Los Angeles area) — $148.37 billion
Maricopa County, Ariz. (Phoenix) — $142.01 billion
San Diego County, Calif. — $139.58 billion
Dallas County, Texas — $111.32 billion
King County, Wash. (Seattle) — $109.05 billion
Santa Clara County, Calif. — $99.55 billion Read the rest of this entry »
Vodka: Quality Without the Cost?
Posted by Oksana Grebenjuk in Budget on Март 25th, 2011
Let’s talk alcohol: After all, it’s 5 p.m. somewhere, right? Over the past decade, the popularity of super-premium spirits has exploded, catering to a new breed of high-end cocktails in many watering holes.
“There has been a significant increase in consumers buying better quality products, almost across the board in all the various categories of spirits,” says Frank Coleman senior vice president of Distilled Spirits Council of the United States (DISCUS).
As the sting of the recession dulls, demand for top-of-the-line goods is increasing to pre-crisis levels. For spirits, super premium categories have experienced double-digit growth in 2010 — Irish whiskey sales rose 30% from the previous year, while scotch single malt was up 17.8% and vodka rose 13.8%, according to DISCUS data.
“There’s an overall trend in consumer consumption patterns for all types of products, whether you’re talking about coffee, spirits or women’s purses. In general, in the mature markets around the world, the consumer demand is for luxury goods,” says Coleman.
But is that $22 martini featuring your favorite luxe-grade vodka worth the price? Can consumers get quality vodka without the cost? Read the rest of this entry »
Why inflation hurts more than it did 30 years ago
Posted by Oksana Grebenjuk in Budget on Март 21st, 2011
Inflation spooked the nation in the early 1980s. It surged and kept rising until it topped 13 percent. These days, inflation is much lower. Yet to many Americans, it feels worse now. And for a good reason: Their income has been even flatter than inflation.
Back in the ‘80’s, the money people made typically more than made up for high inflation. In 1981, banks would pay nearly 16 percent on a six-month CD. And workers typically got pay raises to match their higher living costs. No more.
Over the 12 months that ended in February, consumer prices increased just 2.1 percent. Yet wages for many people have risen even less — if they’re not actually frozen. Social Security recipients have gone two straight years with no increase in benefits. Money market rates? You need a magnifying glass to find them.
That’s why even moderate inflation hurts more now. And it’s why if food and gas prices lift inflation even slightly above current rates, consumer spending could weaken and slow the economy.
Consumer inflation did pick up in February, rising 0.5 percent, because of costlier food and gas. Still, looked at over the past 12 months, price increases have remained low. Problem is, these days any inflation tends to hurt. Read the rest of this entry »
Is the Newest iPad Worth It?
Posted by Oksana Grebenjuk in Budget, Favourites on Март 16th, 2011
The newest iPad is thinner, faster and adds not one but two cameras. But as Apple ( AAPL: 351.99, +5.32, +1.53% ) CEO Steve Jobs extolled the device’s newest features today, many consumers had only one real question: Should I buy one?
One thing is for certain: Tablet fever doesn’t seem to be going away. Apple already sold the lion’s share of tablets last year, some 15 million overall — approximately 85% of the tablet market — which generated $9.5 billion in revenue for the company. This year, dozens of competitors are expected to debut competing tablet computers, and tablet sales across the board are expected to triple. Samsung and Motorola Mobility ( MMI: 25.36, +0.15, +0.59% ) tablets are already available; devices from Research in Motion ( RIMM: 63.38, +0.78, +1.24% ) , HP and HTC are anticipated later this year.
With such a considerable head start, the iPad is still the tablet to beat, analysts say. «They’re raising the bar for everyone else,» says Joseph Beaulieu, an equity analyst for Morningstar. The competitors have yet to build something that’s as easy to use, speedy, and good-looking, critics say. Plus, the also-rans aren’t cheaper: The big names already on the market range from $500 (also the price of the new entry-level iPad 2) to $900, depending on memory and whether you want the ability to hook up with a wireless provider. As of today, they’re all more expensive than the first-generation iPad, which now starts at $400, Apple announced today. Read the rest of this entry »
10 Reasons You May be Required to File a Tax Return Even if you had Little or No Income
Posted by Oksana Grebenjuk in Budget on Март 11th, 2011
Every tax season I get calls from clients with a “quick question:” Do I need to file a tax return? I only made seven grand (or some other small amount).
We’re dealing with tax law, so I hate to tell you this, but there’s practically no such thing as a quick question or quick answer anymore. It’s easier to untangle fives miles of Christmas tree lights than to answer a quick tax-related question.
Most people are aware that there are income requirements for filing a federal income tax return. Most people also think that if their income falls below those income requirements, they don’t need to file. This is not necessarily so, in fact, in many cases, filing a tax return will get you an unexpected income tax refund. And naturally, in other cases, where filing is required even if below the income thresholds, you will pay the tax man.
Here are the exceptions to the income thresholds:
1.) If you are self-employed with earnings of $400 or more, you are required to file an income tax return. The self-employment tax, which funds your Social Security, kicks in at that level. You especially want to do so if you have write offs that will result in a net operating loss, which can be carried back to get refunds from taxes paid in prior years or carried forward to offset income in future years. Read the rest of this entry »
A new global food crisis looms
Posted by Oksana Grebenjuk in Budget on Февраль 23rd, 2011
Soaring food prices, which the World Bank says have hit «dangerous levels,» have thrust the issue of food security sharply into the global spotlight over the past week.
From Asia to the Middle East and to Latin America, the trends of food prices have aroused widespread public concerns globally and in the developing world in particular.
World Bank Group President Robert B. Zoellick warned on Tuesday: «Global food prices are rising to dangerous levels and threaten tens of millions of poor people around the world.»
Rising food prices have driven an estimated 44 million people into poverty in developing countries since last June, as food costs continue to rise to near 2008 levels.
The latest edition of Food Price Watch, a research publication by the World Bank, showed that its food price index rose by 15 percent between October 2010 and January 2011. It is 29 percent above its level a year earlier and only 3 percent below its 2008 peak.
Then what are the main factors behind the food price spikes?
The answer lies in the ultra-loose monetary policy of the United States, the financialization of the global farm produce market, the development of biofuels and the extreme weather events affecting harvests in the world’s main grain-producing areas. Read the rest of this entry »
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Big Banks Easing Terms on Loans Deemed as Risks
6 Июль 2011
Euro Area Backs Greek Aid, Looks to New Bailout
4 Июль 2011
Americans may hit gas again after reserve release
29 Июнь 2011
Obama takes flak for tapping emergency oil reserves
28 Июнь 2011
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