The Supreme Court and Health Care
For decades Americans have been served, in the print media and on television, with sorry vignettes of fellow Americans who have seen their health-insurance premiums increased or lost their insurance coverage altogether because illness struck or were denied coverage because of pre-existing medical conditions.
As a result, these Americans may find themselves hounded by bill collectors on behalf of the doctors and hospitals who treated them. One major illness can wipe out their lifetime savings, house included.
Sometime in 2012, probably just before its current term ends at the end of June, the Supreme Court will decide whether Americans will just have to live with that problem, or, alternatively, like citizens in virtually any other industrialized country, they will have the right to have this problem lifted off their shoulders.
On Nov.
U.S. banks bleed
Slaughterhouses aren’t the only ones axing in the U.S. these days. Less than a week before Thanksgiving, some of the U.S.’ biggest banks are completing a second week of what CNN reports will be approximately 75,000 layoffs. Bank of America ( BAC ) and JPMorgan Chase ( JPM ) slashed jobs this week after Citigroup ( C ), Goldman Sachs ( GS ), Credit Suisse ( CS ), RBS ( RBS ) began eliminating jobs last week. “Layoffs have been expected, but what’s a little different this time is that firms are being more open about it and in some cases, actually inflating their numbers,” managing director Alan Johnson with compensation consultancy Johnson Associates told the news service. Four of those six banks might face additionally severe challenges as the past two weeks also have seen the fulcrum of the sovereign debt crisis shift west from Greece to Italy and now to Spain.
Berlusconi to resign
Once the budget law is passed, the Italiam PM is set to resign. The markets are liking the news, but nothing significant. Does the PM have enough votes to actually pass the new budget, which will then provide the avenue for resignation, or is this an attempt to cling to power? It will be interesting to see how the markets digest the data in to the close.
Roth IRA no more accusing of retirement
Well, retirement problems? No more worrying about it. The moment when one starts thinking of his/her retirement, it indicates that the person has started thinking for his future savings. So to start with, one always has the basic three questions which are. Which retirement plan? Why? And What? The answers are simple: Roth IRA is the name of the best retirement plan because it has a drop down list of more benefits when compared to other retirement plan…and the answer for more information on Roth IRA can be found at roth-ira.org.
The blossom from Roth IRA (individual retirement plan) is numerous which can be said in a single article, but to cover up on the major streaks it provide
(1) The seasoning period is very less time when compared to other retirement plans. Read more…
IRS Commissioner Doug Shulman Wants a Real-Time Tax System
Commissioner Doug Shulman has presided over the continued reorganization and modernization of the Internal Revenue Service since March 2008.
I recently had the opportunity to speak with him about his experiences and the issues affecting the agency. His answers are revealing, and comforting in knowing the respect he holds for taxpayers, tax professionals, and his 100,000 or so employees. Following are some of his answers. The full interview will appear in the December issue of Accounting Today.
Looking back to the beginning of your tenure, what notions did you have about your job when you started that proved to be off the mark ; and which proved to be right on target?
Shulman: I knew that the IRS was a widely respected agency and I had a sense that it had very good people, but since coming to the agency I’ve really been amazed by the talent.
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