Thursday, February 28, 2008
Oh well. Bad decisions are the reasons why we get in credit card debt, foreclosure and repossession situations anyway...but many of us don't blame ourselves...those people blame the lenders and the politicians, which only creates a bigger problem for them....
Sunday, February 24, 2008
So, all of the presidential candidates on both sides of the aisle are talking about our “failing infrastructure.” This is especially the case after the
Let’s look at the construction in
-The south portion of 429 was recently completed, creating a western bypass around
-The 408 east of downtown is being widened to 8-10 lanes.
-Maitland Boulevard is being extended and will become a toll road to alleviate traffic on US 441.
-It looks like the Turnpike-owned portion of the 528 is being widened to 6 lanes.
-The trainwreck known as the 408/I-4 interchange is being totally rebuilt. Because of the recent opening of one of the ramps, it now takes 3 minutes to go through the Westbound 408 to Eastbound I-4 interchange in the morning rather than 20 minutes.
-Talks are being made to add two lanes to each side of I-4 from
-After the construction in Flagler and Brevard counties are complete, I-95 will be at least 6 lanes across throughout the entire state of
-I drove on I-20 in
Yes, this isn’t an exhaustive list of every construction project going on in the country, but given all of this construction traffic I have to deal with each time I travel in this corner of the country, I find it hard to believe that the rest of the country is falling apart.
Monday, February 18, 2008
I am so close to ditching Suze Orman completely and listening solely to Dave Ramsey for financial advice. I have been a Suze Orman fan for about two and a half years or so, but ever since discovering Dave Ramsey on the Fox Business Network in November 2007, I have not enjoyed Suze Orman’s show as much as I did in the past.
On the most recent episode of the Suze Orman Show, a mother called in about her son who just graduated from college with about $85,000 of student loan debt. The lady noted that her son had about $85,000 in stock options and a $120,000 trust from his grandfather. The lady asked if her son should sell the stock and dip into the trust to pay off the loan. Instead of the obvious “yes” that Dave Ramsey would have given, Suze started talking about interest rates and the son’s income. She said given the income and the son’s eligibility for the student loan tax deduction (which means he would save on taxes), he should maybe pay off the student loan that was at 8.25% and make payments on the one that was at 6.125%.
Staying in debt to get a tax deduction is stupid. Let’s do the math.
Suppose I have a student loan whose total interest this year will be $1,000. I have the funds to pay it off completely. But, in order to get the tax deduction, I decide to spend that money elsewhere and make the payments on the student loan.
The upper portion of my income is taxed at 25%. So, if I take that $1,000 off my income, I would save $250 on my tax bill. So, I’ll pay my bank $1,000 in interest in one year so I don’t have to send the IRS $250. Or, I could just pay the debt off in full and pay the $250 in taxes, which will leave me with $750 in my pocket. Even if the deduction put me in the 15% bracket, I would be sending the bank $1,000 so that I would not have to send the government $150.
If you’re paying $10,000 a year in mortgage interest….
So, whether it is a student loan interest or mortgage interest, don’t stretch out loans for the tax deductions, because they don’t make since. If you are that adamant about sending the least amount of money possible to Uncle Sam, give it to a charity.
So, after hearing advice like that from Dave Ramsey, I will be paying my loans off as soon as possible!
Tuesday, February 12, 2008
-David Shuster, MSNBC (yes, NBC has a cable news channel)
So, David Shuster, a reporter at MSNBC, got suspended for suggesting that Chelsea Clinton, the 27 year old daughter of Bill and Hillary Clinton, was being "pimped out" to make contact with and lobby with the Democrat super delegates. Hillary took that as being extremely disrespectful to her otherwise well-respected and innocent daughter. Now, she is threatening to pull out of future MSNBC debates. However, the joke is on the Clintons. Shuster wasn't calling Chelsea a whore, as some women that are really "pimped out" are forced into prostitution (you know, that whole sex slave thing). Shuster was actually accusing the Clintons of being the pimps...so why all the fuss over offending the child (that is 27 by the way)?...