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Payroll taxes cover about a third of Medicare costsMany Americans may believe that Medicare is financed like Social Security. They know that a portion of payroll taxes goes to Social Security and a portion goes to Medicare, and they conclude workers are paying for Medicare benefits. This is not true.- Toll of US recession: Family net worth plunged 35 percent in five yearsThe typical US household saw its net worth fall from $102,844 in 2005 to $66,740 five years later. Although the data are about 1-1/2 years old, they highlight challenges still facing consumers.
US stocks meander as European debt crisis festersUS indexes opened lower, then drifted between modest gains and losses. Homebuilders rallied after a measure of confidence rose to a five-year high. The Dow Jones industrial average closed down 25 points, to 12,741.
Direct effects of debt crisis can't explain away British deficitSome may say that Stefan Karlsson's assertion that an increasing British trade deficit is a sign of an overvalued pound, arguing instead that it reflects the euro area debt crisis. But Karlsson still maintains that there are other issues at play.
Youth of America, wake up! Your elders are using you.The fiscal gap facing the next generation of taxpayers is going to be huge. The solution include taxes, but what many young Americans don't realize is that soon they may be shouldering the majority of the country's debt, alone.
E-book battle: Libraries, publishers square off on pricingE-book publishers are worried about profits shrinking if libraries go digital, and they're hiking e-book prices. Stretched thin by lean budgets, libraries are slow to embrace digital content. Can the two sides reach a solution?
Homebuilder blues: June's Housing Market Index numbers are inWhile all indicators have made notable increases as of late, as indicated by the latest Housing Market Index numbers, conditions still remain distressed by historic standards, even as the industry starts to again see signs of life.
US stocks down early as Europe takes center stageUS stocks slipped Monday as the markets remained focused on the news in Europe. US stocks futures on the Dow fell 65 points to 12645 as optimism over Greek elections failed to dim worries over the eurozone's continuing debt issues.
Phony growth, or phony austerity? Pick your poison.Europe鈥檚 austerity policies nor America鈥檚 growth policies have worked. In Europe, governments collectively spent 44.8% of GDP in 2000. Today it is 49.2%. That鈥檚 not austerity, that鈥檚 stimulus, according to Bill Bonner.
Oil prices slide as hopes for Greece fadeOil prices fell near $83 per barrel Monday as worries lingered over the eurozone debt crisis despite optimism over Greek election results. Benchmark oil prices for July were down $0.75 to $83.28 a barrel.
Four tips to save money on dry cleaningDry cleaning is expensive, and it's going to get worse. Here's how to avoid a hefty bill.
Enjoy free e-books, no e-reader requiredYou don't need to spend hundreds of dollars to enjoy the wealth of free e-book downloads available online.
Your home's temperature should change with the seasonsYour thermostat should be set higher in the summer than it is in the winter. This reduce the workload on your air conditioner or furnace and prevents you from running up the energy bill.
DIY: Six ways to know when to call a proDoing聽 your own home improvement projects can save you money, but a botched repair can end up costing more. Here's how to know when to go it alone and when to call for backup.
Toyota's newest electric car is just for the kidsHow can we get the next generation driving clean, green electric cars? Toyota thinks it has come up with a creative solution of its own, rolling out a new three-seat electric concept car that the kiddos can drive.
Stocks at 1-month high; now all eyes turn towards GreeceStocks recorded their third big gain of the week and closed at a one-month high because of expectations that the fall-out from the debt crisis in Europe may be slowing. The Dow Jones industrial average climbed 115 points to close at 12,767.
Dust bunnies: Not just a nuisance, they can cost you money, tooIf you have a forced air heating and/or cooling system like many people do, it might be worth your while to pull the cover off of a few of the vents and peer inside. If you鈥檙e unlucky, you鈥檒l see giant clumps of dust in there. Remove those bunnies immediately.
CNBC commentator calls for 'King Dollar.' But is it enough?Larry Kudlow has been pounding the table for a stronger US dollar as the way to beat the recession. But now that the dollar has bottomed out, why isn't the recovery sticking? Lowering taxes might be a good place to start.
What recovery? Top 10 cities losing jobs For some regions of the US, talk of an economic recovery is more wishful thinking than reality. Here are the top 10 metropolitan areas that continue to struggle with unemployment, from the Carpet Capital of the World to the home of an Ivy League university.
Talking heads: Candidates have big speeches, little vision
