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Taxes

by Morgan Housel - July 15, 2009 - 0 comments
bank of America.jpg

Earlier this year, Bank of America (NYSE: BAC)
received an additional slug of capital from taxpayers to digest its
Merrill Lynch acquisition. In addition to $20 billion of TARP funds, the bank received what's called a ring-fenced asset guarantee on 90% of a $118 billion pool of assets.

by Daisy Sarma - April 30, 2009 - 0 comments
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One of the things you loathe is sitting down and sorting out your taxes. You are happier having someone tell you ‘this is the amount of tax you will have to pay for this year’ and paying it out, rather than sitting down and going through the painful process of calculating the tax due.

by Morgan Housel - April 1, 2009 - 0 comments
Bank Of America Logo 1.gif

I want Treasury Secretary Tim Geithner's plan to save the banks to work. I want banks to jettison all the crap on their balance sheets and allow taxpayers to profit. Everyone does. It'd be the ultimate victory during an economic collapse where nothing has gone right

by Motley Fool - April 1, 2009 - 0 comments
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You finally get down to the bottom line of your tax return, and the balance due to Uncle Sam is much more than you expected. In fact, it's more than you can afford to pay. You've dug through the couch cushions and checked all your pants pockets, but all you got was $26.55 and a lot of lint.

Submitted by Shruti Sharma on Thu, 03/19/2009 - 02:14. ::

Toronto -- A poll of Canadian taxpayers suggests more than half oppose government aid to foundering automakers they claim brought on their own problems.

The Strategic Counsel online survey of 1,500 Canadians for CTV News and the Globe and Mail found 46 percent supported federal loans, while 54 percent opposed it.

The poll was done March 13-16, before Chrysler Canada threatened to pull out of Canada altogether if it didn't receive $2.3 billion and have a tax dispute resolved.

The poll asked about such a scenario before that happened, and 61 percent of respondents said they wouldn't back a bail-out in the face of threats, CTV said.

Tim Woolstencroft, managing partner with The Strategic Counsel, told the broadcaster the poll results indicate criticism of the chief executive officers and management of General Motors, Ford and Chrysler.

Submitted by Shruti Sharma on Thu, 03/12/2009 - 06:42. ::

Ottawa -- Vancouver's Olympic Village, the Canadian auto industry and a giant inflatable banana were among the winners Wednesday of gold pigs.

The Canadian Taxpayers Federation announced the 11th annual Teddies Waste Awards at a ceremony in Ottawa, the Canadian Broadcasting Corp. reported. The awards honor Teddie Weatherill, a civil servant fired for imaginative spending.

The group gave the auto industry a lifetime achievement award for its history of receiving government grants and loans.

Awards were given for each level of government, local, provincial and federal. Vancouver got the municipal prize for what Kevin Gaudet, the federation's executive director, called "waste of Olympic proportions" on the Olympic Village.

The Manitoba Child and Family Services agency received the provincial honor for providing spa days for employees, complete with pedicures and facials.

Submitted by Shivani Thapa on Fri, 01/30/2009 - 09:37. ::
Submitted by MT Bureau on Sun, 11/02/2008 - 04:11. ::

Norman, Okla -- Sam Bradford threw five touchdown passes Saturday to lead the fourth-ranked Oklahoma Sooners to a 62-28 win over Nebraska.

Bradford completed 19-of-27 passes for 311 yards with one interception for Oklahoma (8-1, 4-1 Big 12), which has won three straight games since a 45-35 setback to Texas.

Quentin Chaney had five receptions for 128 yards and a touchdown and Jermaine Gresham caught two touchdown passes.

Joe Ganz completed 14-of-26 passes for 206 yards with one touchdown and two interceptions for the losing Cornhuskers (5-4). Roy Helu Jr. rushed for 157 yards and a TD on 16 carries.

Copyright 2008 by United Press International.

Submitted by MT Bureau on Fri, 09/19/2008 - 04:04. ::

Houston -- Taxpayers in Texas may have to pony up about half of the tab for wind damage caused by Hurricane Ike, state officials said.

Currently, the Texas Windstorm Insurance Association has $2.1 billion available to pay for the storm's wind damage claims, about half of what it may need, the Houston Chronicle reported Thursday.

"Rates are going to go up," state Rep. Craig Eiland said. "But, the immediate need is making sure people have the opportunity to file their claims."

The TWIA, created to help make windstorm insurance more affordable, has 142,566 policies and $42 billion in exposure, the newspaper reported. The bill expected from claims associated with Hurricane Ike could reach $4.2 billion, the Chronicle said.

Submitted by MT Bureau on Sun, 09/07/2008 - 04:34. ::

Dunfermline, Scotland -- Chris Morrisonof Dunfermline, Scotland, noticed his Labrador retriever rattled when he walked, but had no idea the dog had swallowed 13 golf balls.

"I felt his stomach and heard them rattling around," said Morrison, who told The Daily Telegraph he regularly takes 5-year-old Oscar for a stroll on a golf course near his home. The black lab, he said, usually snoops around the ninth and 12th fairways for lost balls.

"The vet hadn't seen anything like it -- it was bizarre. I thought he might have had a couple in there, but not 13. He is a black Lab, so he is a fair size -- but to swallow 13 is quite amazing."

The balls were removed two weeks ago in an hour-long operation.

"It was like a magic trick," said veterinarian Bob Hesketh of nearby Rosyth.

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