There are essentially three ways of dealing with America's tattered balance sheet and mounting financial obligations: curbing social services, hiking taxes and generating real, sustainable economic growth--and the first two aren't exactly palatable. As for growth, minority entrepreneurs are playing an increasingly important role. Here's where the action is.
Marriage—or non-marriage—can affect how much tax you pay to Uncle Sam. Ever since Congress created the joint filing status for married couples in 1948, many couples have enjoyed “marriage bonuses” and paid less tax as a couple than they would pay if they weren’t married. In the late 1960s, Congress undid some of those bonuses by narrowing tax brackets for couples relative to those for single filers, thereby creating “marriage penalties”—higher taxes for some couples than what they’d pay as singles.[...] read »
Last Friday, Congressman Jesse Jackson Jr. (D-IL) took to the floor of the House of Representatives to decry the iPad as a job killer, as people are using the device to read books rather than buy them from bookstores. Jackson lamented that journalists are losing jobs as people get their news electronically, publishers are using less paper and selling fewer physical books, and brick-and-mortar retailers are losing employees. He said that the iPad is primarily benefiting China, where the device is[...] read »
Like a snowball rolling downhill, gathering heft and momentum until it smacks right into the little Swiss town... Here's the latest in the story of a man, his stock purchases, and his seemingly bullet-proof boss named Buffett. read »
by Frank Pizzichillo, Guest Columnist read »
Founder of battery company behind electric cars discusses plug-in transportation
Dante DeMiro, age 43, was the founder and managing director of MuniVest Financial Group and MuniVest Services LLC in Southfield, Michigan, where he served as an investment adviser to various municipalities, credit unions, school districts, and trade unions. From at least March 2009 to September 2010, DeMiro falsely promised multiple clients that he would purchase millions of dollars in certificates of deposit (CDs) for investment on their behalf. Among his victims were municipalities, a school district,[...] read »
Few, if any other group of Americans, feel the tax burden more than small business owners. There are business income taxes, employment taxes, personal income taxes and more that each small business owner must shoulder each year. read »
Since it is tax-filing season and we all want to honor our wonderful tax system, let's go into the archives and show this video from last year about the onerous compliance costs of the internal revenue code. read »
In his budget speech last week, President Obama said that one leg of his fiscal policy stool is “tax reform to cut about $1 trillion in tax expenditures.” But what exactly is he talking about? read »