By Guest on February 18, 2010
Who pays a greater share of their income in taxes – Warren Buffett, or his administrative assistant?
Obviously, posing the question implies its answer. (The more detailed explanation is at the bottom.)
Politicians may tout the virtues of our “progressive” tax system, but it doesn’t really favor the poor over the rich.
Nor does it favor the rich over the poor, not when 40% of federal tax receipts come from 1% of the population. Fairly or otherwise, the tax system favors the diligent over the unprepared. (As most things in life, so maybe the system is fair.) Specifically, the system favors independent businesspeople over salaried workers.
This topic requires a book-length explanation (such as the groundbreaking and heretical ControlYourCash), but to summarize, starting your own business lets you enjoy tax advantages wage slaves only dream of. Take two people in the same field, making like incomes, living in the same city (which means their
Continue reading Why the Self-Employed Are Smarter Than You…
By Len Penzo on February 17, 2010
When I was a kid back in the 1970s most everybody drank water from their tap.
When me and my friends were playing outside and we needed to quench our thirst, we ran up to the nearest neighbor’s water spigot and grabbed a drink from the hose.
Not any more. Now it seems like almost everybody drinks bottled water.
I even see the neighborhood kids carrying around bottles of water now when they play outside – mine included.
Oh, I’ve laid down the law and demanded that they drink from the hose like I used to, but I still catch them at times sneaking a bottle from the garage anyway.
Maybe I am becoming just a bit of a curmudgeon, but dammit, when compared to filtered tap water, the bottled stuff is expensive and generates a lot of trash too.
Not All Bottled Waters Are Created Equally
In the United States, bottled water is regulated by the
Continue reading Taste-Test Experiment: Bottled Waters vs. Filtered Tap…
By Len Penzo on February 15, 2010
Welcome to the 244th edition of the Carnival of Personal Finance!
What an honor to be hosting! Thank you, Flexo, for giving me “the keys to the car” for the week!
The main theme of my blog is all about taking responsibility for your own personal finances. With that in mind, I thought I would theme this edition of the Carnival around several fiscally irresponsible characters from some iconic American television shows of the past 40 years.
You never saw any bill collectors or repo-men on these shows, but they had to be breathing down these characters’ necks because there is absolutely no way these guys could have afforded to live the way they did based solely upon the pay provided by their professions.
In addition to the main theme, I also tried to provide some extracurricular and, at times, off-beat commentary to a majority of the posts. This is a carnival after all,
Continue reading The Carnival of Personal Finance CCXLIV – The Fiscally Irresponsible TV Characters Edition…
By Len Penzo on February 12, 2010
It’s time to sit back, relax and enjoy a little joe…
Blogs I’ve Been Following This Week
Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what’s been going on in the world of money and personal finance. Here’s what caught my attention over the past week…
Boy, am I excited! This coming Monday, February 15th, I am honored to be hosting the 244th edition of the Carnival of Personal Finance. As you might imagine, I am an extremely busy beaver right now reading all of the great personal finance articles that have been submitted and preparing the write-up.
I can attest to the fact that hosting carnivals can be a labor of love. For example, I spend close to 16 hours each month preparing for and hosting the Best of the Best in Money and Finance Carnival. That carnival routinely attracts well over 100 articles per month.
Continue reading Black Coffee: My Favorite Blogs, Money News & Opinions #33 (Decaf Edition)…
By Len Penzo on February 10, 2010
Does your current honey have their financial act together?
Yes, your current snuggle bunny may be putting on a show for you now, but can that person really maintain their current lifestyle when you finally decide to tie the knot? Are they the type that knows how to pull back on the financial throttle when they have to?
If you don’t know, you better find out.
After all, who wants to marry some one who is financially clueless?
Who wants to be doomed to a financial quagmire by somebody who refuses to live within their means?
So, Len, how can I find out if my significant other is a financial loser before its too late?
There are warning signs, you know.
For example, last month I reviewed an excellent book by Manisha Thakor and Sharon Kedar on how to foster a healthy financial relationship with your significant other. The book is called Get Financially Naked: How to
Continue reading Valentine’s Day Quiz: How to Tell If You’re Dating A Deadbeat (Yes, Really.)…
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