Hard Truth Week in Review – DIY Edition

I didn’t write anything yesterday. I am at the lake with Mrs. ToughMoneyLove and our two labs. I filled the entire day with exercise, walking the dogs (they love being here as much or maybe more than we do) but mostly finishing my DIY retaining wall. Read more

So Why are Economists Behind the Wheel?

You knew that eventually there would be open verbal warfare among experts in economics and finance about how to predict and intervene in a bad economy.

This cover story in Business Week describes the battles that are now waging. I think the article is worth reading so here is a little taste: Read more

Where Your Taxes are Going

The pleasure of finalizing the disgorgement of our tax dollars to the federal beast has come and gone. I think now it would be fun yet painful to look at some federal income tax data courtesy of the Congressional Budget Office. Read more

My Life as a Volunteer Tax Preparer – Tax Day Edition

Yesterday was my final 2009 appearance as an AARP Tax Aide volunteer tax preparer. I had five appointments with one no show. The no show was actually a blessing in disguise because my first appointment was delayed due to tax software issues. After I solved those problems I worked four hours straight with not even a minute break. Read more

Where are You on the Inverted Income Tax Pyramid?

This being April 14 – and with Mr. ToughMoneyLove having to write a big check to the IRS tomorrow – I feel the need to share this link to a piece written by Ari Fleischer about our inverted income tax pyramid.

Here is a teaser quote from the article:

When you make almost 26% of the income and you pay only 0.6% of the income tax, that’s a good deal, courtesy of those who do pay income taxes. For the bottom 40%, the redistribution deal is even better. In 2001, these 43 million Americans, who earn less than $30,500, made 13.5% of the nation’s income but paid no income tax. Instead, they received checks from their taxpaying neighbors worth $16.3 billion. By 2005, those checks totaled $33.3 billion.

Please read the rest – and then shake your head in despair and desperation.

Stimulus Plan Saves the States – from What?

The citizens of New York and California – at least those who know how to earn a living – must be thrilled with the money their states are receiving from the federal spendulus plan.  This plan was designed to help those states with the most Democrat votes, was it not? Read more

Can You Give Yourself a Raise?

Everyone who works for a living wants to receive a raise or at least appreciates getting one. If you are not one of those who strive for a little extra in the paycheck, you probably won’t understand the remainder of this post. For the rest of you, please read on and then let me know what you think about the concept of giving yourself a raise. Read more

Hard Truth Week in Review – Easter Weekend Edition

I found a few interesting hard truth reads this week in the world of personal finance. I hope that you find some of them worth your time as well. Read more

My Life as a Volunteer Tax Preparer – Week 10

Things are winding down in the VITA – AARP Tax Aide Volunteer office. I say this for two reasons. First, the tax filing deadline is upon us, after which our office will close for the year. Second, the “no show” frequency is increasing. Read more

Consumer Credit Counseling and the Law

Let’s be clear about two things:. First, there are millions of consumers who could likely benefit from counseling to help them control spending and reduce credit card debt. Second, finding a credit counselor who is competent, disinterested, and reasonably priced is about as easy as getting a straight answer from a politician. But help may be on the way. Read more

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