If you’re lucky enough to earn a lot of income, you knew this was coming. After all, you only get taxed for Social Security on the first $106,800 of your income. Anything after that draws no SS tax. So, basically, while the rest of us get taxed on our entire income, you all pay into [...]
I wrote about the problems the Postal Service faced back in January, and today we get word that their financial woes are even more severe than previously thought. From NBC… Back to the January post, which was about cutting back on delivery days, I saw two advantages to that model… First, the fewer the days [...]
Some sobering stats when thinking about the fallout from last year. Now entire families, like the one pictured above, are living out of a single hotel. And those are the lucky ones. From Wash Post: Although the number of homeless individuals remained relatively stable between 2007 and 2008, the number of homeless families rose 9 [...]
I think we can all agree that the die is cast on social safety nets. That’s why it’s more important than ever to find the most cost effective ways to implement them. So when I read the following story in the NY Times about states slashing money for these programs, I just shook my head…especially [...]
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Two words: entitlement reform. First orders of business: Medicare and Medicaid… Now, [Director of Obama’s Office of Management and Budget, Peter] Orszag is preparing for the biggest week of his career, with a “fiscal responsibility” summit Monday and the release of Obama’s first budget Thursday. He’s signaling that the moves in the stimulus package are [...]
Apparently everybody is tightening their belts. From Wash Post: In testimony before a Senate subcommittee yesterday, Postmaster General John E. Potter said the post office may be forced to cut back to five-day delivery for the first time in the agency’s history, citing rising costs and an ongoing decline in mail made worse by the [...]
During the campaign season he said he’d go through the federal budget line by line, and this sends a pretty clear message that he intends to make some tough cuts. From Wash Post: President-elect Barack Obama will convene a “fiscal responsibility summit” in February designed to bring together a variety of voices on solving the [...]
Looks like the first part of Obama’s plan will be making sure that most Americans just stay afloat. From NY Times: One proposal, as described by Democratic advisers, would extend unemployment compensation to part-time workers, an idea that Congressional Republicans have blocked in the past. Other policy changes would subsidize employers’ expenses for temporarily continuing [...]
I wrote about this plan recently, but today I find out that it may not happen. Why? Because it’s not “free market” enough. Good times… The FCC has been considering auctioning 25 megahertz of spectrum in the 2155MHz to 2180MHz band. As part of the rules for using the spectrum, the FCC plans to require [...]
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