A tax bracket refers to an individual’s level of income tax. Once your income reaches a certain level, you fall into a higher tax bracket, and you have to pay a greater percentage of your income in taxes.
Archive for the ‘Spend Page’ Category
A Tax Bracket is…
Tuesday, June 23rd, 2009Discretionary Income is…
Tuesday, June 23rd, 2009Discretionary income is the portion of an individual’s income that is left after he or she has taken care of all essential expenditures, such as rent and food purchases. It’s basically the part of your paycheck or income that you’re free to use on whatever you want.
Iranian Voters Got Money On Their Minds…
Tuesday, June 23rd, 2009It always boils down to the economy in the end; this classic political adage applies in the Near East as the Iranian economy dominates political issues.
- In Iran’s 2009 presidential election, the economy — in terms of the inflation rate, unemployment, and how oil revenue is being spent — is of high priority to most voters.
- Incumbent President Mahmoud Ahmadinejad and his supporters believe that the policies of his first term have improved the daily life of the average Iranian, whereas his three opponents claim that the economy is in a dire situation.
- Ahmadinejad increased pensions and the wages of federal employees; his rivals say that government money, a huge part of which comes from oil revenue, should have been spent on creating jobs and improving the infrastructure of the country.
Facts & Figures
- Iran’s economy expanded by 8.0% in 2007 and 4.5% in 2008, but the IMF projects it will expand by only 3.2% in 2009.
- Unemployment was 10.5% in 2005 and is projected to be 17% in 2009.
- Current inflation is at 23.6%, according to Iran’s Central Bank.
Best Quote
“The problem is that Ahmadinejad has focused on the distribution of wealth, and what we need is the creation of wealth.” — Mr. Saeed Leyaz, Iranian economist
Hey Hulu Addict, Wanna Watch That Show On Your Big Screen?
Tuesday, June 23rd, 2009This write-up explores the changing ways in which people watch TV and get their news, and what that means for businesses in the industry.
- Cable-television companies struggle to respond to our growing interest of watching television online. The companies could easily sell us web connection, allowing us to choose exactly which programs we want to watch, but they won’t because of the consequences.
- These companies make money by selling packages of channels, though we end up only watching a small handful. That’s why they’ve resisted the trend so strongly. Unfortunately for them, they may already be too late.
- A slew of start-ups and savvy electronics makers have stormed the scene, giving us a number of new options to bring internet television into our living rooms.
Facts & Figures
- The average American household pays $700 a year for over 100 channels of cable television but watches no more than 15.
- New technology bringing internet television to the living room includes: a few new TV sets come with Ethernet sockets to connect to the internet, video game consoles can stream films and TV shows from Netflix, and specialized boxes like Vudu, Roku, and Boxee can access thousands of videos online and connect them to your TV.
A Progressive Tax is…
Monday, June 22nd, 2009A progressive tax is a tax system in which the more money you make, the more you pay in taxes as a percentage of your total income (this is what we do in the U.S.). For example, if someone who makes $200,000 a year pays 10% of his income in taxes and someone who makes $550,000 pays 15%, that is a progressive tax system.
The Yen is…
Thursday, June 18th, 2009The Yen (abbreviated JPY, for Japan Yen) is the official currency of Japan and is represented using the symbol ¥.
Principal is…
Wednesday, June 17th, 2009Credit is…
Wednesday, June 17th, 2009Credit is an arrangement in which you gain something of value now in exchange for your promise to pay the lender back at some later time (usually with added interest). For example, when you buy a pair of jeans with your credit card, you agree to pay the credit card company later in return for the money you need to buy the jeans now.
The IRS is…
Wednesday, June 17th, 2009The IRS stands for “Internal Revenue Service” and is the government organization responsible for handling everyone’s taxes. If something is wrong with your taxes, you may have a friendly run-in with one of its auditors.
Paying With Cash Could Soon Pay Off
Monday, June 15th, 2009The People vs. Credit Card Company X…
- When you buy something with a credit card, the retailer generally owes the credit-card company 1.5-2% (or more depending on the card) of the purchase price. Many retailers pass that cost onto their customers in the form of a 1.5%-2% price increase.
- But since there’s only one purchase price, customers paying in cash are actually paying more than they have to since the price includes a fee the retailers aren’t paying on that transaction.
- The U.S. Senate is trying to pass new legislation that would change that, allowing retailers to charge less for using cash. But retailer/credit card company contracts could get in the way.
Facts & Figures
- To abide by their contracts and offer price discounts, retailers would have to post two prices on each product, and the credit card price would have to be larger.
- The legislation would allow discounts for cash, checks, and debit cards.
Best Quote
“Cash customers pay a penalty because we take credit cards.” – Jeff Miller, President of Miller Oil Co.