Apr 24, 2012, 11:02 am EDT
Social Security’s clock is ticking faster.
According to an annual report released Monday, the program serving 44 million Americans will drain its trust fund by 2035 — three years earlier than previous estimates — and if Congress doesn’t step in, the program will have to begin cutting benefits.
Among other key dates in the report: Read
Apr 24, 2012, 8:05 am EDT
It’s just about a week removed from Tax Day, and many investors have their capital gains taxes and dividend taxes from 2011 fresh in their minds. However, if you’re sensitive to investment taxes, then future tax rates should be much more important to you than previous payouts — because if Congress doesn’t act, you could be paying a lot more on your investment and dividend income in the near future.
Tax cuts on dividends and capital gains are set to lapse at the end of 2012, meaning that by 2013, you could be paying a nearly 40% tax on some of this income!
That’s if Congress doesn’t act, of course. Read
Apr 23, 2012, 8:50 am EDT
Ron Paul might not wind up in the Oval Office, but if one man has his way, he might land in an equally visible spot: on computer and smart phone screens, as a video game star.
Daniel Williams, the game’s creator and the founder of a web site that sells Ron Paul merchandise, created a Kickstarter campaign last week to fund the game. He set a relatively modest goal of raising $5,000 over two weeks to fully develop the game. As of today, he had already raised more than $9,000.
The game, titled “Ron Paul: The Road to REVOLution”, will play like Super Mario Bros., as the player moves through 13 levels (one for each branch of the Fed) attacking enemies and final bosses and collecting gold along the way. Read
Apr 20, 2012, 12:17 pm EDT
If you think gasoline prices are volatile now, stay tuned. President Obama’s plan to clamp down on oil speculators is going to make things worse.
I’m sure you’ve seen the news by now.
The president wants to clamp down on so-called “oil price manipulation” and has proposed a $52 billion plan to increase federal supervision of oil markets. Read
Apr 20, 2012, 10:08 am EDT
A new Super PAC claiming to support Republican candidates from Congress is drawing suspicion from those very candidates. The issue? Some Republicans think the web sites it has created soliciting donations to help candidates it supports are misleading donors.
The Coalition of Americans for Political Equality PAC, or CAPE PAC, was founded early in 2011. Its stated mission is “restoring conservative values in the politicians elected to represent all citizens of the United States of America.” It is chaired by Jeff Loyd, a marketing consultant and conservative activist from Arizona, and had mostly stayed under the radar until recently. To date, the Super PAC has raised just $90,000, mostly in small increments.
What got lawmakers’ attention was 39 web sites the Super PAC created to support candidates. These sites encourage people to support these specific candidates, but many Republicans say that it is unclear where the money is actually going. To many, the web sites look very similar to a candidate’s web site, giving the impression that money donated goes straight to the candidate’s campaign, and not to the Super PAC. GOP Congressmen are uneasy about possibly losing campaign donations to a Super PAC that may or may not follow through on supporting those candidates. Read
Apr 20, 2012, 9:33 am EDT
For many, the GOP primary race is all but over, but don’t tell Ron Paul that. Along with Newt Gingrich, the Texas Congressman has continued fighting the good fight in the face of the longest of odds.
Proof that Paul is still actively campaigning comes from his campaign fundraising numbers. In March, Paul raised $2.6 million, bringing his total haul for the first quarter of 2012 to $10.4 million. Paul currently has $1.8 million cash in hand and (not surprising considering his fiscal policies) zero debt. These numbers exclude a one-day fundraising event that raised $1.4 million.
That isn’t to say that Paul hasn’t had a harder time raising money as the campaign has progressed. That $2.6 million is a decrease from his January and February efforts. He netted $4.5 million in January and $3.3 million in Februrary. Read