Due to the passage of Proposition 30 last November, the state of California now has the highest top marginal tax rates for those deemed to be “wealthy.” For individuals earning $1 million or more, the tax increased from 9.3 percent to 12.3 percent, retroactive to the beginning of 2012. Also, there is a “mental health […]
Archives for January 2013
Study finds 44% of Americans are one financial emergency away from household collapse
Corporation for Enterprise Development released an interesting report this week that highlights how bad households are when it comes to their finances. It concluded that nearly half (44 percent) of American households do not have enough savings and are one financial emergency away from economic disaster. Last year’s report had similar findings. The study was […]
Canada’s household spending on goods, services hits $55,151 average
Statistics Canada published a new study that found the nation’s households spent on average $55,151 on goods and services in 2011, up from 2.7 percent in 2010. The statistics agency said that 27.6 percent accounted for shelter, 20.4 percent was for transportation and 14.1 percent for food. The province of Alberta had the highest rate […]
U.S. still headed toward economic collapse as debt to grow 200% of GDP
Following the recent fiscal cliff deal between the Republican leadership and the White House, the United States long-term fiscal outlook still remains troublesome as new analysis suggests the national debt will head toward 200 percent of its GDP. A report from the Peter G. Peterson Foundation released Tuesday showed that the American Taxpayer Relief Act […]
Texas Governor wants state to return unspent money to taxpayers
Here is a bit of good news for Texas taxpayers and perhaps even taxpayers from around the world. Texas Republican Governor Rick Perry plans to use his State of the State Address to propose amending the Texas Constitution to allow the government to give citizens its money back that is unspent. Perry, who was a […]