Money and Finance
[H/T Linc]
- Dividend Update - February 2014
February has come and gone and now it's time for again for my favorite monthly update, my dividend update. These dividend updates reflect all dividends that I receive through my investing pursuits and I hope can help inspire you to take control...
- Income Update - November 2012
November's income was higher than my average so far for the year which is great because I'm still able tor reduce my expenses so every extra dollar of income gets to be converted into savings mainly dividend growth investing capital. Not only...
- Goals For 2015
Hi Everyone, Another day, another dollar. Another year, another opportunity to reach the American Dividend Dream! This is my first post with regards to setting goals but I believe these are necessary in helping to lay out a plan for the future. ...
- Why A Multi Level Marketing (mlm) Company Isn't A Source Of Passive Income
Recently, I met up with an old friend from high school for dinner. Over dinner we chatted about our school life, our plans for army and the future. He told me he recently joined a MLM Company called WorldVentures. I was quite shocked, but I refrained...
- August Progress
I started tracking my passive income this summer. My June passive income was $261.00 My July passive income was $209.67 In August I bought more shares of MCD, GSK, and a new stock EC. I received $118.36 in Dividends income My dividend...
Money and Finance
Warren Buffett's Op-Ed on the Earned Income Tax Credit
Link to: Better Than Raising the Minimum Wage
In my mind, the country’s economic policies should have two main objectives. First, we should wish, in our rich society, for every person who is willing to work to receive income that will provide him or her a decent lifestyle. Second, any plan to do that should not distort our market system, the key element required for growth and prosperity.
That second goal crumbles in the face of any plan to sizably increase the minimum wage. I may wish to have all jobs pay at least $15 an hour. But that minimum would almost certainly reduce employment in a major way, crushing many workers possessing only basic skills. Smaller increases, though obviously welcome, will still leave many hardworking Americans mired in poverty.
The better answer is a major and carefully crafted expansion of the Earned Income Tax Credit (EITC), which currently goes to millions of low-income workers. Payments to eligible workers diminish as their earnings increase. But there is no disincentive effect: A gain in wages always produces a gain in overall income. The process is simple: You file a tax return, and the government sends you a check.
In essence, the EITC rewards work and provides an incentive for workers to improve their skills. Equally important, it does not distort market forces, thereby maximizing employment.
The existing EITC needs much improvement. Fraud is a big problem; penalties for it should be stiffened. There should be widespread publicity that workers can receive free and convenient filing help. An annual payment is now the rule; monthly installments would make more sense, since they would discourage people from taking out loans while waiting for their refunds to come through. Dollar amounts should be increased, particularly for those earning the least.
There is no perfect system, and some people, of course, are unable or unwilling to work. But the goal of the EITC—a livable income for everyone who works—is both appropriate and achievable for a great and prosperous nation. Let’s replace the American Nightmare with an American Promise: America will deliver a decent life for anyone willing to work.
[H/T Linc]
- Dividend Update - February 2014
February has come and gone and now it's time for again for my favorite monthly update, my dividend update. These dividend updates reflect all dividends that I receive through my investing pursuits and I hope can help inspire you to take control...
- Income Update - November 2012
November's income was higher than my average so far for the year which is great because I'm still able tor reduce my expenses so every extra dollar of income gets to be converted into savings mainly dividend growth investing capital. Not only...
- Goals For 2015
Hi Everyone, Another day, another dollar. Another year, another opportunity to reach the American Dividend Dream! This is my first post with regards to setting goals but I believe these are necessary in helping to lay out a plan for the future. ...
- Why A Multi Level Marketing (mlm) Company Isn't A Source Of Passive Income
Recently, I met up with an old friend from high school for dinner. Over dinner we chatted about our school life, our plans for army and the future. He told me he recently joined a MLM Company called WorldVentures. I was quite shocked, but I refrained...
- August Progress
I started tracking my passive income this summer. My June passive income was $261.00 My July passive income was $209.67 In August I bought more shares of MCD, GSK, and a new stock EC. I received $118.36 in Dividends income My dividend...