We’re broke: Have Some More Anyway
One of the problems we face in California is the schizoid nature of state finances. For example, last year lawmakers fretted over the state budget and decided to cut, among other things, the Cal-Grant program which provides free money to college students. From an article dated June 29, 2012: “Gov. Jerry Brown announced Thursday that he had vetoed $195 million in overall spending approved by the Legislature — a move that will save more than $22 million by … Read entire article »
Filed under: Featured, Kim's Korner
California: Who’s Staying?
An email has been circulating around about “death-spiral” states, and of course California made the list. Essentially, the email lists states that have more “takers” vs. “givers” and claims 11 states have more takers than givers. Takers are defined as those receiving government benefits and/or are working for the government. Givers are defined as private sector workers. The email has created lots of controversy, and the usual debate over the definition of takers and givers has clouded … Read entire article »
Filed under: Featured, Kim's Korner
Once Again: More Taxes in California
It’ s not getting any better in California. The state, still desperate for money after years of government spending sprees, has now decided to add an additional 3.5 cents tax to gasoline. Experts say this will add $26.00 in costs to the average California driver. For business, however, the costs will run into the millions statewide. The extra costs incurred by the transportation industry will undoubtedly be passed on to consumers. Overall, Californians now pay 39.5 cents state … Read entire article »
Filed under: Featured, Kim's Korner
Yet Another New Tax in California
Seems like it never ends: California, long broke and over-spent, adds another tax to fleece its residents. This time it’s a lumber tax, described this way: “Beginning January 1, 2013, a new law requires a one percent (1%) assessment on purchases of lumber products and engineered wood products for use in California, based on the selling price of the products.” So there we go. We keep paying more and more in fees and assessments, on top of all … Read entire article »
Filed under: Featured, Kim's Korner
The recession isn’t recovering, and it isn’t going away anytime soon!
On September 21, 2009, the headline for MarketWatch read, “The U.S. recession is bottoming out and a recovery is near.” A few days ago I read in our local paper that San Diego foreclosures were up 34% in January. Meanwhile, California’s unemployment rate is at 12.3% and the nation’s unemployment rate stands at 9.8%. In both cases the trend has been up, not down. The US debt is well over $14 trillion and the US dollar continues … Read entire article »
Filed under: Kim's Korner
Yeah, You Got Me Again, California…
A “Gotcha” moment hit me this week, and it concerned something I learned about HSAs Health Savings Accounts. As most people know, money contributed to a HSA is not taxed. It does not count as income. The money grows tax-free and withdrawals used for qualified medical expenses are not taxed either. This is how HSAs work, unless…..wait for it…..you live in one of the few states that decided to treat HSAs differently than the feds do. Say, … Read entire article »
Filed under: Kim's Korner
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