As a former tax accountant, it annoyed me last week to hear all the noise about higher taxes for small businesses. First of all, what is a small business? According to the Small Business Association, it’s “one that is independently owned and operated and which is not dominant in its field of operation”. I read […]
In the spirit of scrambling to keep tabs on federal attempts to grease our economic machine, here’s a roundup of the government’s latest news-making moves: Move #1 Forbes reports that the Fed unveiled the Money Market Investor Funding Facility (MMIFF), which will buy up as much as $6 billion in money market instruments, such as […]
This past Saturday was miserable, for two reasons. Reason #1: A doctor prescribed me medication that did the exact opposite of what it was supposed to do. If you’ve ever taken medication that gives you more symptoms than it cures, you know what I’m talking about—one little pill can easily ruin your day. Reason #2: […]
As a small business owner who voted for George W. Bush in the previous two elections, I am endorsing Barack Obama for President. Unlike Joe The Plumber, who has no small business, I actually own and operate a small business that currently employs 12 Americans. And it makes me proud to know that I am […]
We’ve heard every talking head go on about Wall Street’s effect on Main Street. We’ve all been scared to death that the credit markets are going to freeze up. I don’t know about you, but I’m still getting credit cards in the mail. So how exactly is this credit crunch really affecting small businesses across […]
Joe the Plumber is doing darn well for a guy from Main Street. While everyone else loses money, Joe is worried about being taxed as a “rich” person. Joe was John McCain’s new poster child for the all-American small business owner last night. A plumber from Ohio (or a non-Ohio voter planted by Karl Rove? […]
Bloomberg covers the demise of Highland’s Crusader fund, formerly one of the biggest names in the market: Highland Capital Management LP will close its flagship Highland Crusader Fund and another hedge fund after losses on high-yield, high-risk loans and other types of debt, according to a person with knowledge of the decision. Highland, whose total […]
We all seem to be broke these days. Why would anyone in their right mind want to donate money during a financial crisis? Easy. Because the person you’re donating to feels the economic crisis, too. The difference is that while you may lose your house, they may lose their lives. The financial crisis has resulted […]
Homelessness in the United States has always struck me as particularly painful. Penury is not well tolerated in the Land of Opportunity. People think money is easy to come by here, giving extreme poverty an especially powerful stigma. In some countries, the homeless are seen as being cursed. In America, we do the cursing ourselves, […]
Today is Blog Action Day 2008. Here at Business Pundit, we’re joining thousands of bloggers using this special day to talk about one topic: Poverty. So. Ahem. Here’s my chance to launch a kickin’ day of poverty discussion, and what do I find online? That people are fascinated by labia reconstruction and Madonna’s impending divorce. […]
Almost everyone in this country comes from immigrant stock. Even Native Americans are said to have immigrated from Asia in prehistoric times. Immigration is in our blood. Knowing that, it’s not terribly surprising that the bad economy is causing Americans, especially financial professionals, to seek employment abroad. From the Wall Street Journal: The (financial) crisis, […]
In an ongoing attempt to save money on food, I’ve begun buying large amounts of bananas. I don’t particularly like them, but they’re cheap, nutritious, and taste good in cereal, making them one of the supermarket’s best bargains. But something about the pricing of this jungle fruit confounds me. Why are they so cheap? They […]
