Don't Quit Your Day Job…

Here’s a completely understandable statement: taxing the rich heavily is a poor recipe for fiscal health.  In the recent boom times (which we can probably define as from the post-bubble years until 2007), some states relied very heavily on the tax receipts provided to them by their highest earning residents.  California, New York, New Jersey and Connecticut got more than 40% of their tax revenues from their highest tax brackets.  During the boom times those states boomed right alongside their highest earning residents… and now the faucet’s flow has been reduced to a trickle, the states stand in line as well.

When you think of budgeting, money isn’t the only resource that should come to mind. In personal finance, time is every bit as important as money, but only you can place an accurate value on it. The financial equivalent of an hour of your time is determined by how wisely you spend it – the more
you plan your time and allocate it to productive activities, the more it’s worth. So if you’re looking to squeeze more value out of each hour in your day, try some of these tips to keep you aware of the way you spend your time.

Recently an interesting Forbes article was published which looks at the state fiscal crisis in a new and refreshing way.  Using a ‘deadweight ratio’ of the number of private sector workers paying into state funds versus the number of public sector workers and pensions being paid out.  By this measure you can tell how many people each private sector worker is supporting in the public sector -whether a retiree or a public sector worker.  Yes, by this measure, in California, the results are still dire.  Read on to see what I mean!

… the dollar bill, a huge sign of freedom and independence in this country, is not made out of paper. In fact, it is actually made of a blend of cotton and linen, and purchased from Crane & Co. in Dalton, Massachusetts. Why is this relevant? Well, it just so happens that the very commodity used to weave our dollar bills happens to have experienced quite a bit of a price hike lately. The hard numbers? The cost of a dollar bill has increased 50% since 2008.

DQYDJ was featured in a carnival for an unprecedented 3rd straight week!  Please go check out the Carnival of Personal Finance, hosted this week at Saving to Invest… and look for “Hedge Your Gas Prices!” in the Budgeting and Money Management section!