The budget defict

Mr. Obama does not give very good explanation of the defict.

First the economy is growin gand the defict did not have serious impact.

The defict will shrink as the employment increases.

After the second war the defict was enormous then there was boom.

The defict will shrink as Afghanistan war phase out.

The Banks, financials will pay back the loans.

All government spending was important.

No one can single out one wrong spending.

The defict created employment and jobs.

The defict i snonsense issue,

Check corporate earnings and Wall Street including the Dow and Standard & Poor.

Joshua Rauh and Luigi Zingales University of Chicago Booth School of Business Ultimate Stupidity

Time shows that the predictions of the high esteemed Rauh and his excellency Zingales are piece of garbage and horse manure.

 

 

 

If the US government provides GM with a $25 billion loan that allows it to

continue operating under current conditions for another year or two, the money would

simply be wasted and the problem postponed. GM would still be completely unable to

survive in the long term. We are very sympathetic towards the pain of the hundreds of

thousands of workers whose jobs are at stake. It is precisely because we are concerned

about their long term welfare that we oppose a bailout. Throwing money at a drug addict

only enables the addict to continue abusing drugs and ultimately shortens his life.

Similarly, government money aimed at a company that needs restructuring enables it to

avoid taking responsibility of its future, condemning it to a certain death.

Unfortunately, in this case the transformation of part of the debt into equity, as

proposed by one of us for banks, is not a solution either. GM’s problem is not a shortterm

liquidity crisis. A debt-for-equity swap would provide temporary relief from GM’s

short term obligations, but at the cost of continuing the bleeding and delaying the

restructuring. GM would just continue to run down the value of its assets. The only

difference with respect to a government bailout would be that investor money instead of

taxpayer money would be wasted.

We believe that a Chapter 11 bankruptcy filing for GM is the only possible

 

 

solution. However, we recognize that in the current environment, there are several likely

inefficiencies associated with the bankruptcy process. In particular, if we do nothing and

wait for GM to file for bankruptcy, which would likely happen in a month or so, we

would risk a bad outcome of the proceedings, namely an inefficient liquidation of the

company and a substantial amount of social disruption from the sudden loss of jobs. We

therefore propose that the government oversee a prepackaged bankruptcy for GM that

would give the company the restructuring it badly needs and avoid

Joshua Rauh and Luigi Zingales

University of Chicago Booth School of Business

US Food Stamps and Jobs

http://www.weeklystandard.com/blogs/more-americans-added-food-stamps-find-jobs_652837.html

The Gold Market and Coins

http://www.gold-eagle.com/

http://charts.kitco.com/KitcoCharts/

 

 

http://www.kitco.com/KitcoNewsVideo/index.html?v=12-09-14donaldcoxe_1

Filing Requirements for Most Taxpayers

2011 Filing Requirements

You must file a federal income tax return if you are a citizen or resident of the United States or a resident of Puerto Rico and you meet the filing requirements as given below. However, if you are self employed or independent contractor, you must file tax return if your self employed income is $400 or more.


1. Filing Status Single

If under 65, must file tax return if gross income is at least $9,500.

If 65 or older, must file tax return if gross income is at least $10,950.


2. Filing Status Married Filing Jointly

If under 65 (both spouses), must file tax return if gross income is at least $19,000.

If 65 or older (one spouse), must file tax return if gross income is at least $20,150.

If 65 or older (both spouses), must file tax return if gross income is at least $21,300.

(Read Filing Status: Married Filing Jointly)


3. Filing Status Married Filing Separately

Any age, must file tax return if gross income is at least $3,700.

(Read Filing Status: Married Filing Separately)


4. Filing Status Head of Household

If under 65, must file tax return if gross income is at least $12,200.

If 65 or older, must file tax return if gross income is at least $13,650.

(Read More: Head of Household)


5. Filing Status Qualifying Widow(er) with Dependent Child

If under 65, must file tax return if gross income is at least $15,300.

If 65 or older, must file tax return if gross income is at least $16,450.


Standard Deduction

For the 2011 tax return, the standard deduction amounts are,

*Single (other than head of household and Surviving Spouses) $5,800

*Married Filing Joint Returns and Surviving Spouses $11,600

*Married Filing Separate Returns $5,800

*Head of Households $8,500


The 2011 Exemption Deduction for each exemption is $3,700

If you are a dependent, read: Filing Requirements of a Dependent

For more information read IRS Publication 501 (2008), Exemptions, Standard Deduction, and Filing Information

More Articles:Your Filing Status

1. Filing Status for Married

2. Head of Household

Exemptions for Dependents

1. Requirements for claiming a dependent

2. Child of separated or divorced parents

Filing Requirements

1. Filing Requirement for a Dependent

2. 2009 Filing Requirements

Your Income

1. W2 vs 1099-Misc: Employee vs Independent Contractor

2. Tax Filing by Self Employed Sole Proprietor or Independent Contractor

3. Partnerships

4. Filing W4 Employee’s Withholding Allowance Certificate

5. Missing W2, 1099-Misc, 1099-R, 1099-Int

6. My Tax Refund?

Your Foreign Income

1. U.S. Citizen or Resident with Foreign Income

2. Foreign Bank and Financial Accounts

Income Exemptions and Deductions

1. Moving Expenses

2. Itemized deductions

3. Student Loan Interest Deductions

Income Adjustment

1. Traditional IRA and Roth IRA

2. Elective Deferrals 401(k) Plans

U.S. Gift tax and Inheritance Tax

1. The U.S. Gift Tax

2. Tax on Inheritances

Sale of Your Home

1. Profit from the Sale of Your Home

2. Foreclosure or Repossession of Main Home

3. First-Time Homebuyer Credit

State Tax

1. Working in Two or More States

What's New for 2009

What's New for 2009



Tax for Nonresidents and Foreign Aliens

1. U.S. Tax Filing Requirements for Non-Residents

2. Substantial Presence Test

3. Social Security and Medicare (FICA) Taxes for Non-resident Exempt Individual

4. U.S. Tax Treaties for Professors, Teachers and Researchers

5. U.S. Tax Treaties for Students and Apprentices

6. The U.S. VisasComplete List of Articles



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Unemployment Rate Chart USA Ten Years

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