At the time of this post the House is debating HR 5077 - a bill that, if passed, provides for the permanent increase of AMT exemptions and indexes them for inflation. For tax year 2010 the exemption amount for individual filers would jump to $75,000. Joint filers would see their exemption jump to $100,000. Stay [...]
The Simpsons in its earliest years offered the type of TV we associate with All in the Family - social commentary in a comedic wrapper. The "Deep Space Homer" episode originally airing 2/24/94 didn't fail to disappoint. The premise - humorous in and of itself - was a despondent NASA desperately searching for higher ratings [...]
Today Treasury auctioned $37 billion in 5 yr securities at a 3.06 bid-to-cover resulting in a yield of 1.79%. Yesterday AT&T came to market with a $2.5 billion 5 yr offering with a 2.5% coupon representing a scant 77 bps above the comparative Treasury. The tea leaves tell a variety of interesting stories. We'll save [...]
As a classically trained economist with reverence for John Maynard Keynes - the father of Macroeconomics - it pains me to write this. On second thought it's not Keynesian theory that's flawed but its application by President Obama and the Democratic Congressional "leadership." Keynes theorized that in a robust economy fiscal policy ought to promote [...]
..is twofold: arrogant politicians and delusional voters.
With the fireworks and BBQs and family gatherings behind us and we set out on the beginning of the second half of 2010 let's not forget why we took time out to celebrate. These words and ideals are as inspiring today as they were 234 years ago when they inspired a nation. And so without [...]
A Senate panel's recently adopted budget resolution would reinstate the federal estate tax at 2009 levels for two years. The resolution is non-binding. The House has not yet approved a budget resolution. However, it previously passed HR 4154 ("Permanent Estate Tax Relief for Families, Farmers and Small Businesses Act of 2009") that repeals provisions of [...]
Lost in the hoopla surrounding Greece's self-created financial mess is a simple fact. Greece, like most southern European countries, is far from a political or economic powerhouse. Its GDP contributes a scant 2% of the EU's total. Then why all the noise? Why the excitement surrounding an economic player that amounts to not much more [...]
After bailing out banks and the auto industry and in yet another step towards European-style socialism Uncle Sam has his eyes on our bodies and the education of our kids. With all the hoopla surrounding Big Government's mandate that we buy health insurance or be penalized - a move essentially telling us we have no [...]
On Feb 23rd Senator Ron Wyden (D - Oregon) and Senator Judd Gregg (R - New Hampshire) introduced the "Bipartisan Tax Fairness and Simplification Act of 2010" to overhaul what they dubbed a "broken" tax system. Among other provisions the bill would preclude the issuance of tax-exempt (i.e. muni) bonds beginning in 2011 while changing [...]