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October 31, 2008

Under $250,000 is middle class: Obama

A show of hands at an Obama rally Thursday after the candidate asked who made less than $250,000. Senator Barack Obama says those middle class audience members would benefit from his plan.


Mr. Obama opposes extending President Bush's tax cuts. Instead, he proposes various tax breaks, including a $500 tax credit for each person in a household who works, a larger child care tax credit, a $4,000 tax credit each year for the first two years of college, and eliminating all income taxes for those over 65 with income less than $50,000 a year.

To reduce the deficit and inequality, he would raise the tax rate for single households with incomes of $200,000 or more and for families with incomes over $250,000. He would also raise taxes on capital gains and dividends.

For married couples with incomes of $500,000 with two children and both parents working, the Tax Policy Center found that Mr. Obama would raise income taxes by $3,363, from $110,955 now, while Mr. McCain's plans would leave taxes unchanged. Deloitte found that a $500,000-a-year couple would pay $3,100 more under Mr. Obama, with no change under Mr. McCain.

Mr. McCain also proposes giving many households a $5,000 tax credit when they buy family health insurance, which costs $12,000 nationwide on average.

Previously: Charles Gibson of ABC: $200,000 a year was a middle-class income.

U.S. / Politics
For Incomes Below $100,000, a Better Tax Break in Obama's Plan
Published: October 31, 2008
John McCain would cut taxes generally on par with Barack Obama for those making $100,000 to $250,000 a year, indepeA show of hands at an Obama rally Thursday after the candidate asked who made less than $250,000. Senator Barack Obama says those audience members would benefit from his plan. ndent analyses show.

October 24, 2008

Seen on the street

Bill Cunningham narrarates what he saw this week on the street in NY.
Also, the time-progress slider has a nifty usable burst-up preview.

http://www.nytimes.com/interactive/2008/10/25/fashion/20081026-street-feature/index.html">Windy | | Comments (0) | TrackBacks (0)

October 23, 2008

Rambunctious Quant

RAMBUNCTIOUS QUANT, new quantitative content.

October 22, 2008

Paradoxically ?

The laid-back, noncompetitive and bohemian ambience of these new coffee shops has, paradoxically, limited them almost entirely to the very neighborhoods that welcome those qualities: Greenwich Village, Chelsea, and Williamsburg and Park Slope in Brooklyn.

Like flames, paradoxically limited to fires ? More in words and language.

NY Times, in

New York Region / The City
Bean Town
Published: October 26, 2008
The number of coffee shops opening across the city recently has some people claiming that New York is experiencing a coffee renaissance.

October 21, 2008

Mortgage meltdown diagnoses

In 2006, the question was the canary in the coal mine question, 'Will the subprime mortgage industry meltdown, and would the meltdown spill over to other financial sectors ? '

In 2007, the question became, 'What started the meltdown ?'. Chris Whalen has an excellent summary of what we know in autumn 2007.

So what we saw actually was the largest public-private partnership to date, started as the National Partners in Home Ownership in 1994. It was signed onto by the realtors, the home builders, Fannie, Freddie, the mortgage bankers, HUD. It was a massive effort, with more than 1,500 public and private participants, and the state goal was to reach all time home ownership levels by the end of the century. And the stated strategy proposal to reach that goal was, quote: "to increase creative financing methods for mortgage origination." Those seeds were sown in 1994. Those policies were put in place in 1994.

October 20, 2008

Middle class: only up to $250, 000 annual income ?

The definition of middle class is in flux. Many try to quantify and specify it in income terms.

Here's Charles Gibson of ABC (Via Paul Krugman): suggested that $200,000 a year was a middle-class income.

October 19, 2008

John Cleese on Sarah Palin

Funnier than Michael Palin.

Vancouver Kettlebell Workshop with Steve Cotter

Kettle bells are a most a versatile type of exercise equipment.
Simple, durable, but versatile. No moving parts of maintenance.

The kettlebell has a potentially important role because it is cost efficient, space efficient, time-efficient and effort efficient -- a whole gym in your hand.

Kettlebells are an ancient Russian weight-training tool shaped like a cannonball with a thick handle. They range in weight from 4kg (9lbs) to 48kg (105lbs), and are quickly becoming the strength tool of choice for athletes, coaches, and trainers. But kettlebells are for more than just the pros and 'hardcore' fitness buffs - everyone and anyone can lift kettlebells and reap muscular strength, endurance, flexibility and cardiovascular benefits with every workout.

FullKontact forums.

October 18, 2008

Andrew Sullivan: why I blog

In fact, for all the intense gloom surrounding the news-paper and magazine business, this is actually a golden era for journalism. The blogosphere has added a whole new idiom to the act of writing and has introduced an entirely new generation to nonfiction. It has enabled writers to write out loud in ways never seen or understood before. And yet it has exposed a hunger and need for traditional writing that, in the age of television's dominance, had seemed on the wane.

-- Essay of the Week by Andrew Sullivan.

October 12, 2008

Apple notebook updates on October 14th

More power for Powerbooks !
Cheaper ?
Faster ? Quad-core soon!
Smaller ?

And of course, nifty new features.


October 11, 2008

Nobel Economics Prize, 2008

Short list of Laureate top candidates for the Nobel Economics Prize, 2008

Eugene F. Fama (WSJ reports Fama is the front runner, given the efficiency of markets to represent all available information, as demonstrated by betting)
Lars P.Hansen
Thomas J. Sargent
Armen A. Alchian and Harold Demsetz
Martin Feldstein
Jean Tirole

Other top contenders:

Robert J. Barro
Jagdish N. Bhagwati (with Avinash K. Dixit)
Eugene F. Fama (with Kenneth R. French)
Oliver D. Hart:
Dale W. Jorgenson:
Paul R. Milgrom

The nominating processes explained:nobelprize.org


Previously: 2007 Nobel Prize in Economics contenders.

Aka 'The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel'

See also Thomson Reuters.

October 10, 2008

Think or swim: think different than other brokers ?

Think or Swim aims for high volume from quickly expiring options.

The average accounts remain above 40K. The Annual avg trades per remain
above 180 and the churn hovers around 7%. TOS is pillaging competitors at
a 14:1 ratio (nearly 12,000 accounts taken away from OXPS, Schwab, TD,
Etrade etc in 6 months).

-- synchro (Registered: Aug 2005, Posts: 59), 07-04-08 04:12 AM

October 4, 2008

Cluster Stock

Clusterstock advances to the top of our blogroll,
with three top business and economic writers:

Carney (Update 2011: Carney now at NetNet but still worth reading) (Best of: After our experience with Hank Paulson as Treasury Secretary, there was a great feeling among the masses that what we needed was not a chief executive running the economy, much less a Wall Street boss. What we needed, nearly everyone said, was a smart guy who came from outside the corporate boardroom. And that's what we got in Geithner.),

and Stalwart (John Paulson shares his Economic Crisis Stories At Recovery.Gov).

Refs: Mediabistro