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Is the Debt Ceiling Constitutional? What can be done if it’s breached?
It isn’t entirely clear that the debt ceiling is constitutional. Neither, however, is there a clear remedy for violating it. Bartlett (and in an op-ed linked to by him, Tribe) discuss some alternatives which may be “more or less unconstitutional” than default — such as either the President or the Treasury choosing to prioritize payments. Read more
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WSJ: Jason Zweig – Saving Investors From Themselves
And amazing and touching column from one of my very favorite journalists. <http://blogs.wsj.com/moneybeat/2013/06/28/the-intelligent-investor-saving-investors-from-themselves> Zweig’s column in the WSJ is must-read stuff every week, and his book Your Money and Your Brain was absolutely fascinating. Read more
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Not so obvious things which can screw up your credit score — and how to get your free credit reports
This is a good article about non-obvious things which can have an impact on your credit record: http://www.bargaineering.com/articles/5-noncredit-items-ruining-credit-score.html And here is the site to use to get your annual free credit reports from each of the three reporting agencies. Note that they do not include the credit score – this just the Read more
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58.7% increase in tax rates at the beginning of 2013 for income above $11,950
Yes, you read that right. There was a 58.7% increase in tax rates on taxes paid by certain taxpayers as of the beginning of 2013. That’s the increase in capital gains taxes for folks in the highest ordinary tax brackets, due to the increase in the capital gains rate from 15% to 20%, and the Read more
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Ritholtz: “A hedge fund for you and me? The best move is to take a pass”
http://articles.washingtonpost.com/2013-05-24/business/39489985_1_hedge-funds-private-investment-partnerships-investors “A hedge fund for you and me? The best move is to take a pass” Barry Ritholtz on Hedge Funds The math is compelling. Hedge fund managers get rich – “2&20” as they say. The investors? Rarely. And the hedging? A lot less than you might think, since the name “hedge fund” has Read more
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The Father of the Modern 401(k) Says It Fails Many Americans
<http://www.marketplace.org/topics/sustainability/consumed/father-modern-401k-says-it-fails-many-americans> “Thus began the era of make-your-own-retirement.” The 401k wasn’t exactly an accident – it was intentionally put into the tax code. But the blockbuster growth of it, and the way it’s supplanting the traditional pension more and more – that was not the original intention. Scott Tang at American Public Media (NPR) discusses the Read more
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