Despite the billions of dollars (with a b) which are suddenly floating around our economy, courtesy of the federal government in the form of a stimulus packge, June retail industry sales didn’t move much at all. The National Retail Federation reported that retail sales last month edged up 0.2% over May. Retail sales figures do…
I’ve already reported that tax professionals received a benefit from the stimulus package with more taxpayers than ever rushing to file. Now comes news that another industry has received a boost from the (*cough*) stimulus package: porn. Adult web sites are experiencing a boost in sales this year, despite a slowdown in the economy. Perhaps…
The Senate voted overwhelmingly (76-10) to advance a mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure. The plan focuses on a $300 billion FHA program to allow homeowners who are currently considered too risky to qualify for government-backed loans to refinance into safer, more affordable mortgages. The number of “yes” votes…
In San Mateo County, California, the Board of Supervisors is holding a closed-door session to deal with a $20 million mistake. As mistakes go, it’s a pretty big one. The San Mateo County Superior Court awarded Genentech, a self-described profitable biotech firm, $20 million in a recent court case. Genentech had filed suit against the…
Who really benefitted from the economic stimulus plan? Tax professionals for sure. H&R Block, the nation’s largest tax preparer service, reported a banner quarter. The company prepared taxes for over 23.5 million clients – due largely to the rush for rebate checks. This means that H&R Block posted a profit this quarter, which was good…
Taxpayer asks: Hey taxgirl, I get that we have overspent in Congress. But who do we owe exactly? And what is the difference between the deficit and the debt? I know these aren’t really tax questions but you talk about it on your blog so I thought you might know. Taxgirl says: What great questions!…
Obama and McCain continue to battle it out about the issue that most Americans seems to care about right now: the economy. To hear each talk, it just can’t get much worse (can it?). McCain spins Obama’s tax proposal as “the biggest tax increase since World War II.” Obama compares McCain’s plan to that of…
Fun Friday has wrapped up on the channel – there are lots of great posts about the price of gas and how it affects each of us. I hope you take the time to check out them out! How Many Miles to the Gallon is That? http://www.doingbizabroad.com/how-many-miles-to-the-gallon-is-that Toll Hopping at the Pump http://www.talkstocktrading.com/toll-hopping-on-the-weekend/ How Much…
More reading about manufacturing and the economy: Where do your things come from? Whose Economy Do Your Purchases Support? Made in the USA? Where do items for your home business come from? Made in the USA Fun Friday: Ode to a Chinese boycott Where Does Your STUFF Come From?
It’s been suggested on this blog – and others – that the big “fix” to the economy would be to buy more American products. I don’t know how much of an immediate impact it would have on the economy but doing it is actually harder than it sounds. So many products – even those that…