Fall Day

It's a windy fall day here. Most leaves have not changed yet but the cooler wind foretells of things to come.

Summer has ended and soon the third quarter of the year will too. Thursday is the first day of the last quarter.

This week is a great time to review your investments, tax withholdings, and tax reducing possibilities.

Have you funded your IRA for 2009? Your HSA? Will your income and other factors allow a deductible IRA?

Study your last pay stub. Has enough income tax been withheld? This is an excellent time to make adjustments using Form W-4 with your employer.

How about your charitable gifting year-to-date? With Thanksgiving and Christmas ahead, there are plenty of opportunities to donate food and cash to needy folks or medical research and support foundations.

A big breath of fresh fall air. A fresh look at your finances so far for 2009.

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Obligated?

If you had a business and you got $ from someone to help underwrite your efforts, would you be obligated to that person? Could that person make suggestions? Demands?

The NEA (National Endowment for the Arts) receives large grants from us, from We The People. In fact, these grants are a majority of their cash in-flows.

The President has asked the NEA for their help in promoting his efforts.

Of course this is old news. If you've been reading newspapers or watching most TV stations, you already know of the trouble the White House is in.

Wait. Most of the main stream stations (ABC, CBS, NBC, CNN) haven't given much air time to this little recorded phone conversation. The newspapers probably have, right?

Wait. They are all lining up for bailout $ from Uncle Sam. I don't think they have given it much weight.

Once again, if someone is your largest donor (or you hope to receive $ from them), are you obligated to them?

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Agreements

There was a short blurb on the radio this morning complaining about the fees associated with debit cards. Did you know that if you overdraw using your debit card, your account will be hit with a large fee?

Recently, someone I knew voiced shock that their adjustable mortgage would be changing. Their payment would be increased by half!

Let us review. If you sign a contract or an agreement, you have committed to the terms enclosed. If you mortgage is set to adjust in two years, you can count on your payment changing. It will nearly always increase.

If you overdraw your bank account, you have agreed to the terms disclosed regarding fees and procedures. A debit card is like presenting cash. So, the $ will be drawn out of your bank account. If there is not enough $, the bank is actually covering you (loaning you) for the difference.

Read or fully understand (ask questions) all documents you sign.

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Ding Dong

The President claims his door is always open. He is available for discussions with the opposition regarding health care.

Another lie according to Republican leadership.

Ding dong. Knock knock.

Slipping a note under the door.

Nothing.

In reality, the President does not need the Republicans and others to pass whatever he wants. He has no need to have a discussion about other opinions.

So, what's up with the constant face time and no action. In fact, he refers to a bill that no one has seen. He has not endorsed the Max bill and the House HR3200 has been scrapped.

I see the push push push. Hasn't Americore finished his bill yet?

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Univision

Our president will appear on 5 news shows tomorrow. He is making the rounds -- appearing on NBC, ABC, CBS, CNN and Univision. Univision where English is not the language spoken.

What's wrong with this list? Other than the language thing, I suggest the President fears appearing on Fox.

Fox News - where the Van Jones issues were far beyond his signing the petition suspecting the US of bombing the twin towers.

Fox News - where the Acorn tapes are revealed. One after another.

Fox News - where they ask hard questions.

Possibly the President is doing an act of charity as the ratings for those 5 networks are slipping. Only Univision has steady ratings.

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Two Sides of Mouth

President Obama is for free enterprise. Quite a chat-up on Wall Street yesterday. Some phrases almost sounded like a capitalist.

Back during the Great Depression there was one action that likely prolonged our pain in the US.

Obama, buckling under the Unions, took that same debilitating step. He slapped a 35% tariff (tax) on imported tires. The action is aimed at China which has become a source of good quality and cheap treads.

Capitalist, free market -OR- tax competition.

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Third Payment

Most of us have taxes withheld from each paycheck. That's not the only way to pay our tax liabilities throughout the year which is what Uncle Sam wants. He demands we pay as we go even if he doesn't.

Quarterly tax deposits are due April 15, June 15, September 15, and January 15 of the follow year. If you make these deposits, your payment must be postmarked on or before tomorrow. The next payment is due in 2010 toward your 2009 liability.

States that collect income taxes often have similar payment schedules. Check your state of specifics.

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Worrier

My dad was a worrier. I find myself worrying but stopping. Does this worry demand action? Remembering that worry is like a rocking chair - lots of motion but poor mileage.


Every year, the government spends hundreds of billions of dollars it doesn’t have, creating a burden of debt for American taxpayers.

The national debt will grow by more than $9 trillion, according to an August 2009 report by the independent White House Office of Management and Budget.

When this debt crisis forces the government to raise taxes dramatically, the effect on our economic growth and productivity will be catastrophic.

How much do we pay in taxes? In New York City, 1% of taxpayers pay almost 50% of the city’s income taxes. In California, the top 1% pay 47% of the state’s income taxes. According to the IRS, in 2007 the top 1% of American earners paid 40% of all federal income taxes.

I am nearing the last 100 pages of Atlas Shrugged. I highly recommend it but using a Kindle would be easier than lugging around a 1,100 page book.

In the novel, the main male character leads a strike of the most creative and productive minds in America. The group refuses to continue to produce for a country that no longer rewards their hard work. The rewarding of wealth to the neediest, rewarding the unproductive for not producing, leads to chaos and worse greed than ever. Oops, hope I didn't ruin it for anyone.

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Dow Jones

Yesterday, 9-11-2009, the Dow Jones closed at 9605. Virtually the same as 9-11-2001 but we have had a ride these past 8 years.

I remember a year ago when the financial institutions were failing. Lehman Brothers folded. Maybe because they were first, they received no federal bailout?

The market headed south reaching a low in early March 2009. The gains since have been so good that it causes me to pause. Why the steep and steady climb? Are we due a correction before year's end? I believe so. How much and how long? I have no idea.

We remain in the stock market except for a mutual fund that held only health related stocks. The fund had mostly health care real estate holdings when we bought back 5 years ago. They switched their focus to pharmaceuticals but we held on.

We made our move out of that fund at the end of June. The fund never produced one taxable dollar. We have a loss to claim on our taxes.

Just wanted to share the consequence of yesterday's closing of 9605.

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9-1-1

I remember someone explaining to me that kids are taught to dial 9-1-1 and not 9-11 as there is no 11 key on the phone. 9-1-1. Our emergency calls are to 9-1-1.

Now we all have a 9-11. A date that I shall never forget and I pray none of us will forget. All of us remember that Tuesday, September 11, 2001. We remember where we were and what we were doing.

We will never forget the images of the towers and the Pentagon and that lonely field in Pennsylvania. Thousands of Americans killed by this attack.

Yes, we were attacked. When we were attacked at Pearl Harbor, it brought on our involvement in World War II even though those islands were only a holding and not one of our grand 50 states back then.

Let us never forget. Let us inform our children. Let us hold on to those feelings following as we came together as a people, united against the faceless enemies. Let us pray we never fall to the tyranny of terrorism.

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Question

I have one question. President Obama seemed so set on using the terrible abuse in Medicare to justify his Health bill.

Why has he not set those abuses as targets? Why would anyone know about the abuses and not tackle them?

He will use bigger government to correct the smaller government problems?

I learned very little last night.

Main stream media kept commenting on the shock of the SC senator Wilson's outburst that Obama was lying. How soon they forget the inaugural address of W in 2005. Several outbursts during that speech. But the media over sights are not something new. None of them even mentioned Van Jones until he was already gone.

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MDA Telethon

Did you watch any of the coverage of Jerry Lewis' Labor Day telethon this weekend? Either local coverage or the national coverage out in Las Vegas?

Did you realize this was the 44th year? Did you miss Ed McMahon?

Do you have memories of fire engines collecting in your neighborhood or at your 7-11 or the backyard circus back in the 80s? How many dollars, coins, and large checks presented for the charity to help victims and support research!

The American people can be very generous. Many charities do wonderful things with little or no government $. That's something to find pride in.

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Like Credit Cards

The public debt (belonging to us) is over $11 trillion. The monthly interest due is over $26 billion or $300 billion a year.

Like a credit card, if we don't pay toward the principal the interest compounds upon interest that was compounded, etc. It (our debt) grows and grows without borrowing more.

By 2019, ten years from now, the annual interest due will balloon to $806 billion!

So we ask ourselves (because Congress is not asking itself clear and reasonable questions) where can we get $ to pay off this debt? Tax monster, greedy corporations!

If we taxed (based on 2008 statistics) Walmart, Exxon, GE, and IBM at 100%, We The People would take in $87.6 billion.

We can't pay the interest. It is a runaway train.

President Obama has projected his 2009 budget will produce a $1.7 trillion deficit. We are spending $4.657 billion every day or $53,906.64 per second!

This is modern day slavery. Our children will not be sold to work in fields but they will toil 100 hour weeks to pay for the massive debts we will leave them. A shameful inheritance.

Tomorrow is Labor Day. Consider the labor and sweat and toil in our children's future to pay for the necessary pork in our bills: tatto removal, bridges to nowhere, and skateboard parks.

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"Washington Lies"

Dr. Walter E. Williams posted an article September 2. He included a few interesting facts.

In 2006, 43.4 million tax returns representing 91 million individuals had no tax liability. That's 91 million of 136 million who filed.

Also, there are 15 million households and individuals who do not file.

So, he concluded, 121 million Americans or 41% of the population are completely outside the federal income system. Over 2/5 of us are neutral on tax cuts and tax increases.

You can find Dr. Williams webpage and read more of his interesting thoughts. He has also posted some videos of interviews and the like.

Note: If you are thinking his math is fuzzy, remember households and joint returns include at least 2 individuals.

My point is, more and more people know that increases and even decreases in taxes do not effect them. They believe "Robin Hood" government merely takes a "fair share" from those greedy capitalists. No moral problem there.

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Higher and Higher

The federal average unemployment is now 9.7%. The August update was released within the hour. Just in time for Labor Day.

What is it where you are? August numbers by state are not available but July's figures include 15% for Michigan, 12.7% for Rhode Island, 12.5% Nevada, 11.9% for California and Oregon, 11.8% South Carolina, and 11% in Kentucky.

Illinois was 10.4%, Indiana was 10.6% and North Carolina matched Kentucky with 11%.

One in ten is without work. There are others whose unemployment benefits have run out and some folks are "under employed." That means they are working less hours or for less than they used to.

If you have a job, hold tight. If you are looking for a job, good luck. The government is hiring.

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Prime Time

President Obama will address the Congress and all of us on Wednesday night. He's hitting back harder.

What he does not understand is the income lost during prime time without commercials. The whole idea of profits losses means very little to him.

Wednesday is September 9 which is the day after he will address each and every K through 6th grader in our public schools. He's asking for their help and their allegiance.

If he were encouraging our young minds to study hard, remain in school, give it their best try, or even speaking about the greatness of our free country, I could stomach it. I read the instructions as posted on the internet. First to the teachers there are ideas to prepare their student for the President's appearance.

Then there are suggestions for during the talk such as taking notes or drawing a picture of President B. Husein Obama.

Finally, each grade level is to compile a list of what they can do to help the President with global warming and health care needs and like issues. These are to be kept and revisited throughout the school year as a checklist of activities accomplished.

As of this morning, the White House has changed the focus to how our youth can help the country. How to help the government.

This is an upside down world. The government works for us. How dare they? If not openly, they will effect our culture subliminally for the change they are targeted on. I remember reading about Hitler's Youth. Chilling, isn't it?

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Atlas Shrugged

I am about 2/3 of the way through "Atlas Shrugged." It has all the necessary elements of a great saga - suspense, sex, and loads of characters. Probably too many characters for me to track.

As I read, I have placed sticky note flags. These are mostly for my own review.

Also, as I read, I keep seeing the Obama/Plumber Joe encounter of a year ago. Spread the wealth. For those that follow him.

If you ever have the time, read Atlas Shrugged. My copy will be available in a few weeks. I'm a slow reader.

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