Archive for November, 2015
7 steps to avoid becoming a tax scam victim
The IRS, state tax agencies and tax preparation industry say that while they\’re doing even more to prevent refund fraud and tax-related identity theft, those efforts won\’t be enough unless individuals also take steps to protect their personal, financial and tax data.
Why running a budget deficit can reduce the national debt
YESTERDAY, at an event hosted by the Resolution Foundation, a think-tank, the organisation’s chief economist, Matt Whittaker, said something that made a few people sit up. He remarked that it would be simultaneously possible to run a budget deficit (ie, where government spending exceeds taxation) and reduce the burden of government debt at the same time. Now, to British ears this sounds impossible. Running a budget surplus, as the chancellor of the exchequer, George Osborne, is desperate to do (on the wisdom of that, see here) is often elided with paying down the national debt, which currently stands at around 80% of GDP (bailed-out banks notwithstanding).
And in a way, that does make sense. If the government gets more in taxes than it spends, it will have money left over to repay debt. And given the government does not have to borrow more money, it does not need to issue any more debt. So eventually, the stock of debt will fall.
However, the stock of debt doesn\’t really matter, for…Continue reading
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LIKE the sub-prime mortgage crisis in America and the sovereign debt crisis in Europe, emerging markets could be on the cusp of their own debt reckoning
Why Warren Buffett Wants Children To Be Entrepreneurs
One of my core beliefs, based on all of my research and experience, is that people are going to be focusing on their careers earlier in life in order to compete later in life. We interviewed high school students last year and found that they are already volunteering, getting internships […]
The Tax Code Can Be Simpler. But Not Three Pages.
A look at some of the challenges inherent in any effort to simplify the I.R.S. tax code — a goal of all the Republican presidential candidates. University of Missouri — PRESIDENT RESIGNS … After Football Protest
The President of the University of Missouri has resigned … after several players on the school\’s football team threatened to boycott unless Tim Wolfe stepped down immediately. The football players were protesting the way Wolfe handled issues of…