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Showing posts with label taxes. Show all posts
Showing posts with label taxes. Show all posts
Tuesday, February 16, 2010
Friday, July 10, 2009
Is it Time for a New Stimulus?
Is it time for a new economic stimulus from the Fed? A popular opinion creeping up seems to think so. Many claim the first stimulus did not do enough for the common American, as national unemployment creeps toward 10% and new data claims 20% of homeowners are under water in their mortgages.
While most agree they are tired of the current economic climate, what many don't realize is government programs cannot work miracles overnight. Only 56.3 billion dollars of the 499 billion allocated have been spent. Only 157.8 billion dollars of the 499 billion are available for spending. By this math, one-third of the available funds have already been spent. Approximately one-third of funds allocated toward the economic stimulus are currently available for spending.
What, then, is the answer? Some leading economists, and even the Fed itself, claim the answer is to be patient. While this seems like a slap in the face to many Americans who are currently jobless and getting foreclosed on, the only other alternative would, of coarse, be to initiate another stimulus package. American taxpayers are already allocated to be the ones picking up the tab for the first stimulus. If a second stimulus is undertaken, this would mean, quite simply, more taxes for Americans to pay later.
What is your opinion regarding this issue? Should Americans receive another economic stimulus?
While most agree they are tired of the current economic climate, what many don't realize is government programs cannot work miracles overnight. Only 56.3 billion dollars of the 499 billion allocated have been spent. Only 157.8 billion dollars of the 499 billion are available for spending. By this math, one-third of the available funds have already been spent. Approximately one-third of funds allocated toward the economic stimulus are currently available for spending.
What, then, is the answer? Some leading economists, and even the Fed itself, claim the answer is to be patient. While this seems like a slap in the face to many Americans who are currently jobless and getting foreclosed on, the only other alternative would, of coarse, be to initiate another stimulus package. American taxpayers are already allocated to be the ones picking up the tab for the first stimulus. If a second stimulus is undertaken, this would mean, quite simply, more taxes for Americans to pay later.
What is your opinion regarding this issue? Should Americans receive another economic stimulus?
Tuesday, February 10, 2009
Tax Payers Still Angry Over Bail-Out
A recent poll has concluded tax payers are still angry over the bail-out of the banking industry. I thought this was quite funny. It's as though the government and the people are a couple who's recently had a big fight. So the government leans over to the people and murmurs, "Still angry?" and the people turn away from the government with a curt, "Yeah."
I like to think of myself as the average American, for the most part. I have a great interest in economics, both micro- and macro-. I read economic news every day. From what I understand, if the Great Depression has taught us anything, it is that banks should not be allowed to fail because then everybody loses their money. What I don't understand, then, is where does FDIC insurance come into play? Quite frankly, I don't care if my bank fails, as long as it's FDIC insured and I still get my money.
So then what does it mean to have money that is FDIC insured? Does that even mean anything? I thought it meant my money is insured by the Fed, so if anything happens, the Fed can give me my money. I'm not so naive as to think the Fed just has all this cash lying around to cover all the deposits everywhere in the country. I think many Americans are led to believe this.
If my money is FDIC insured, does that simply mean the government will use my money to reward irresponsible parties who couldn't hold on to their own money?
I know this is a very cynical view, and I don't mean this to advise anyone one way or another. This is simply an opinion piece. If there is anyone, anywhere, who is actually happy with, or OK with, using their own hard-earned money for the bail-out, please respond!
I like to think of myself as the average American, for the most part. I have a great interest in economics, both micro- and macro-. I read economic news every day. From what I understand, if the Great Depression has taught us anything, it is that banks should not be allowed to fail because then everybody loses their money. What I don't understand, then, is where does FDIC insurance come into play? Quite frankly, I don't care if my bank fails, as long as it's FDIC insured and I still get my money.
So then what does it mean to have money that is FDIC insured? Does that even mean anything? I thought it meant my money is insured by the Fed, so if anything happens, the Fed can give me my money. I'm not so naive as to think the Fed just has all this cash lying around to cover all the deposits everywhere in the country. I think many Americans are led to believe this.
If my money is FDIC insured, does that simply mean the government will use my money to reward irresponsible parties who couldn't hold on to their own money?
I know this is a very cynical view, and I don't mean this to advise anyone one way or another. This is simply an opinion piece. If there is anyone, anywhere, who is actually happy with, or OK with, using their own hard-earned money for the bail-out, please respond!
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