UConn women's basketball coach Geno Auriemma was in the midst of his postgame news conference after his team's major-college record 89th victory in a row when a PR flack interrupted to hand him a cell phone.
Who could possibly be important enough to keep a roomful of reporters waiting? None other than President Obama himself.
"No, you're not interrupting anything," Auriemma said, chuckling. "If I was calling you and you had all those reporters in front of you, you'd be dying to take my phone call, right?"
Most congratulatory phone calls between a president and the coach of a championship team occur out of the public eye, so it was fascinating to see Auriemma so calm with one of the most powerful men on the planet on the other end of the line.
Auriemma, who has met Obama during White House visits each of the past two years, graciously accepted congratulations on defeating Florida State to eclipse the 88-game winning streak set by John Wooden's legendary UCLA men's teams from 1971 to 1974. He also noted that the Huskies haven't lost since Obama became president, joking "How about we keep that streak going for a couple more years, huh?" Maybe the highlight of the video, however, is the zinger Auriemma unleashed to reporters as soon as he got off the phone with Obama. "That was the new president of the University of Connecticut," Auriemma deadpanned. "We just wanted to get off on the right start."
Wednesday, December 22, 2010
Friday, December 17, 2010
Thanks to Obama the Rich Win Again
I really was a big supporter of President Obama and wanted him to be successful but he is allowing himself to be played, and lacking the back bone that I thought he had, I do understand he is in a difficult position and things are difficult right now, but stand tall and fight for what's right. If should not allow another party to dictate to him, he is the Commander and Chief. The extension to Bush's tax credit to the rich is contrary to what he promised and it seems that he does not understand how the game is really played. He wants us to think he caved in because he was looking out for the best interest of the working class an poor, but all he did was make a deal with the devil (Republicans) and they saw him coming. This is going to be his demise because it expires again in two years in time for the next election.
By all means, he is the Freaking, President he has the power of Veto, and he can do what he wishes in spite of the Republicans' agenda. I really wish Obama was more like or would at least sit down and talk with Representative Anthony Weiner, D-NY, I like his politics and he seems to have real understanding, and actually voted against the tax extension and the deal the president made with the Republicans. I could go on and on but will spare you of my thoughts and allow you to read the article posted on Yahoo, so that you can form your own opinion.
WASHINGTON – A massive bipartisan tax package preventing a big New Year's Day tax hike for millions of Americans is on its way to President Barack Obama for his signature Friday.
The measure would extend tax cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage.
The president is expected to sign the bill Friday afternoon. In a remarkable show of bipartisanship, the House gave final approval to the measure just before midnight Thursday, overcoming an attempt by rebellious Democrats who wanted to impose a higher estate tax than the one Obama agreed to. The vote was 277-148, with each party contributing an almost identical number of votes in favor (the Democrats, 139 and the Republicans, 138).
In a rare reach across party lines, Obama negotiated the $858 billion package with Senate Republicans. The White House then spent the past 10 days persuading congressional Democrats to go along, providing a possible blueprint for the next two years, when Republicans will control the House and hold more seats in the Senate. "There probably is nobody on this floor who likes this bill," said House Majority Leader Steny Hoyer, D-Md. "The judgment is, is it better than doing nothing? Some of the business groups believe it will help. I hope they're right." Rep. Dave Camp, R-Mich., said that with unemployment hovering just under 10 percent and the deadline for avoiding a big tax hike fast approaching, lawmakers had little choice but to support the bill.
"This is just no time to be playing games with our economy," said Camp, who will become chairman of the tax-writing House Ways and Means Committee in January. "The failure to block these tax increases would be a direct hit to families and small businesses." Sweeping tax cuts enacted when George W. Bush was president are scheduled to expire Jan. 1 — a little more than two weeks away. The bill extends them for two years, placing the issue squarely in the middle of the next presidential election, in 2012. The extended tax cuts include lower rates for the rich, the middle class and the working poor, a $1,000-per-child tax credit, tax breaks for college students and lower taxes on capital gains and dividends. The bill also extends through 2011, a series of business tax breaks designed to encourage investment that expired at the end of 2009.
Workers' Social Security taxes would be cut by nearly a third, going from 6.2 percent to 4.2 percent, for 2011. A worker making $50,000 in wages would save $1,000; one making $100,000 would save $2,000.
"This legislation is good for growth, good for jobs, good for working and middle class families, and good for businesses looking to invest and expand their work force," said Treasury Secretary Timothy Geithner. Some Democrats complained that the package is too generous to the wealthy; Republicans complained that it doesn't make all the tax cuts permanent.
Rep. Ginny Brown-Waite, R-Fla., called it "a bipartisan moment of clarity."
The bill's cost, $858 billion, would be added to the deficit, a sore spot among budget hawks in both parties. "I know that we are going to borrow every nickel in this bill," Hoyer lamented.
An opponent of the legislation, Rep. Anthony Weiner, D-N.Y., said Obama and lawmakers will face enormous election-year pressure in 2012 to extend the cuts again or make them permanent. Weiner said the Republicans turned out to be "better poker players" than Obama.
At the insistence of Republicans, the plan includes an estate tax that would allow the first $10 million of a couple's estate to pass to heirs without taxation. The balance would be subject to a 35 percent tax rate.
Many House Democrats wanted a higher estate tax, one that would allow couples to pass only $7 million tax-free, taxing anything above that amount at a 45 percent rate. They argued that the higher estate tax would affect only 6,600 of the wealthiest estates in 2011 and would save $23 billion over two years. House Speaker Nancy Pelosi, D-Calif., called the estate tax the "most egregious provision" in the bill and held a vote that would have imposed the higher estate tax. It failed, 194-233. Rep. Elijah Cummings, D-Md., said he thought the White House could have gotten a better deal. "When I talk to the Republicans they are giddy about this bill," he said.
By all means, he is the Freaking, President he has the power of Veto, and he can do what he wishes in spite of the Republicans' agenda. I really wish Obama was more like or would at least sit down and talk with Representative Anthony Weiner, D-NY, I like his politics and he seems to have real understanding, and actually voted against the tax extension and the deal the president made with the Republicans. I could go on and on but will spare you of my thoughts and allow you to read the article posted on Yahoo, so that you can form your own opinion.
WASHINGTON – A massive bipartisan tax package preventing a big New Year's Day tax hike for millions of Americans is on its way to President Barack Obama for his signature Friday.
The measure would extend tax cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage.
The president is expected to sign the bill Friday afternoon. In a remarkable show of bipartisanship, the House gave final approval to the measure just before midnight Thursday, overcoming an attempt by rebellious Democrats who wanted to impose a higher estate tax than the one Obama agreed to. The vote was 277-148, with each party contributing an almost identical number of votes in favor (the Democrats, 139 and the Republicans, 138).
In a rare reach across party lines, Obama negotiated the $858 billion package with Senate Republicans. The White House then spent the past 10 days persuading congressional Democrats to go along, providing a possible blueprint for the next two years, when Republicans will control the House and hold more seats in the Senate. "There probably is nobody on this floor who likes this bill," said House Majority Leader Steny Hoyer, D-Md. "The judgment is, is it better than doing nothing? Some of the business groups believe it will help. I hope they're right." Rep. Dave Camp, R-Mich., said that with unemployment hovering just under 10 percent and the deadline for avoiding a big tax hike fast approaching, lawmakers had little choice but to support the bill.
"This is just no time to be playing games with our economy," said Camp, who will become chairman of the tax-writing House Ways and Means Committee in January. "The failure to block these tax increases would be a direct hit to families and small businesses." Sweeping tax cuts enacted when George W. Bush was president are scheduled to expire Jan. 1 — a little more than two weeks away. The bill extends them for two years, placing the issue squarely in the middle of the next presidential election, in 2012. The extended tax cuts include lower rates for the rich, the middle class and the working poor, a $1,000-per-child tax credit, tax breaks for college students and lower taxes on capital gains and dividends. The bill also extends through 2011, a series of business tax breaks designed to encourage investment that expired at the end of 2009.
Workers' Social Security taxes would be cut by nearly a third, going from 6.2 percent to 4.2 percent, for 2011. A worker making $50,000 in wages would save $1,000; one making $100,000 would save $2,000.
"This legislation is good for growth, good for jobs, good for working and middle class families, and good for businesses looking to invest and expand their work force," said Treasury Secretary Timothy Geithner. Some Democrats complained that the package is too generous to the wealthy; Republicans complained that it doesn't make all the tax cuts permanent.
Rep. Ginny Brown-Waite, R-Fla., called it "a bipartisan moment of clarity."
The bill's cost, $858 billion, would be added to the deficit, a sore spot among budget hawks in both parties. "I know that we are going to borrow every nickel in this bill," Hoyer lamented.
An opponent of the legislation, Rep. Anthony Weiner, D-N.Y., said Obama and lawmakers will face enormous election-year pressure in 2012 to extend the cuts again or make them permanent. Weiner said the Republicans turned out to be "better poker players" than Obama.
At the insistence of Republicans, the plan includes an estate tax that would allow the first $10 million of a couple's estate to pass to heirs without taxation. The balance would be subject to a 35 percent tax rate.
Many House Democrats wanted a higher estate tax, one that would allow couples to pass only $7 million tax-free, taxing anything above that amount at a 45 percent rate. They argued that the higher estate tax would affect only 6,600 of the wealthiest estates in 2011 and would save $23 billion over two years. House Speaker Nancy Pelosi, D-Calif., called the estate tax the "most egregious provision" in the bill and held a vote that would have imposed the higher estate tax. It failed, 194-233. Rep. Elijah Cummings, D-Md., said he thought the White House could have gotten a better deal. "When I talk to the Republicans they are giddy about this bill," he said.
Tuesday, December 14, 2010
Four Tax Changes You Need to Know
I thought this article was worth sharing. It is crucial that we understand all of the tax incentives available to us as tax payers. Thanks to Yahoo.com for posting it. Despite the availability of professional tax preparation services, an estimated 40% of Americans do their own taxes. The typical do-it-yourself filer needs about 24 hours to complete the task, according to the IRS.
Commercially available software undoubtedly makes the job a lot easier, but no brand is guaranteed to be infallible. Thus, it's important for do-it-yourself filers to keep up as best they can with relevant changes to the tax code as a safeguard against errors in their tax prep software. Here are four of the most important changes to know about as you prepare your 2010 return.
1. Smaller Deductions for Business and Medical Mileage
You can't write off the cost of a daily commute by car, but you can deduct other work-related mileage you're not reimbursed for. This year, for example, you'd get 50 cents a mile for driving from, say, Boston to New York City and back for a trade show. That's five cents less per mile than you'd have gotten for the same trip in 2009.
At 16.5 cents a mile, the deduction for operating your car for medical reasons is 7.5 cents less than last year. However, driving for charitable purposes is still deductible at 14 cents per mile, just like last year.
[See States That Tax Retirees the Most]
2. Better Limits on Deductions for Property Damage or Loss Due to Theft
For damaged or stolen property to be deductible, the loss amount must now only exceed $100, compared with $500 in 2009. The "10% of AGI" rule still generally applies though.
Remember, AGI is the sum of all your income - such as wages, interest and alimony received - minus certain adjustments, such as IRA contributions, student loan interest you've paid and moving expenses.
3. Deduction for Taxes and Fees on New Motor Vehicle Purchases
Did you buy a new car, light truck, motor home or motorcycle between February 17 and December 31 of 2009? If so, in 2010 you can deduct state, local, and excise taxes related to the purchase. If your state has no sales tax, you can instead deduct other taxes or fees the purchase generated. A neat feature of this deduction is you can use it to increase your standard deduction or take it as a regular itemized deduction, whichever works out best for you.
[See Make the Most of Your Charitable Donations ]
There are a couple limitations to know about. First, the deduction is only good on up to $49,500 of the purchase price. Second, it's phased out at certain levels of modified adjusted gross income (MAGI) - between $250,000 and $260,000 for joint filers and from $125,000 to $135,000 for other taxpayers. MAGI is your AGI plus certain deductions such as those for student loans, IRA contributions and higher education costs.
4. Bigger Deductions for Long-Term Care (LTC) Insurance Premiums
IRS rules allow LTC insurance policy owners to deduct more of their premiums in 2010 than in 2009. For example, those ages 51 to 60 can claim up to $1,230 in LTC insurance premiums this year, compared with $1,190 last year - about a 3% increase. Similar increases have been approved for other age groups as well: 40 and under, 41-50, 61-70 and 71 or over. At $330, the deduction is smallest for the 40-and-under age group. It rises progressively to a maximum of $4,110 for those ages 71 or over.
As you can probably imagine, the government has tinkered with the tax rules quite a bit more than this article describes. To see what other potentially beneficial changes have been made, check out a list called "Tax Changes for Individuals" at the IRS website. Who knows what other sorts of breaks you might unearth?
Commercially available software undoubtedly makes the job a lot easier, but no brand is guaranteed to be infallible. Thus, it's important for do-it-yourself filers to keep up as best they can with relevant changes to the tax code as a safeguard against errors in their tax prep software. Here are four of the most important changes to know about as you prepare your 2010 return.
1. Smaller Deductions for Business and Medical Mileage
You can't write off the cost of a daily commute by car, but you can deduct other work-related mileage you're not reimbursed for. This year, for example, you'd get 50 cents a mile for driving from, say, Boston to New York City and back for a trade show. That's five cents less per mile than you'd have gotten for the same trip in 2009.
At 16.5 cents a mile, the deduction for operating your car for medical reasons is 7.5 cents less than last year. However, driving for charitable purposes is still deductible at 14 cents per mile, just like last year.
[See States That Tax Retirees the Most]
2. Better Limits on Deductions for Property Damage or Loss Due to Theft
For damaged or stolen property to be deductible, the loss amount must now only exceed $100, compared with $500 in 2009. The "10% of AGI" rule still generally applies though.
Remember, AGI is the sum of all your income - such as wages, interest and alimony received - minus certain adjustments, such as IRA contributions, student loan interest you've paid and moving expenses.
3. Deduction for Taxes and Fees on New Motor Vehicle Purchases
Did you buy a new car, light truck, motor home or motorcycle between February 17 and December 31 of 2009? If so, in 2010 you can deduct state, local, and excise taxes related to the purchase. If your state has no sales tax, you can instead deduct other taxes or fees the purchase generated. A neat feature of this deduction is you can use it to increase your standard deduction or take it as a regular itemized deduction, whichever works out best for you.
[See Make the Most of Your Charitable Donations ]
There are a couple limitations to know about. First, the deduction is only good on up to $49,500 of the purchase price. Second, it's phased out at certain levels of modified adjusted gross income (MAGI) - between $250,000 and $260,000 for joint filers and from $125,000 to $135,000 for other taxpayers. MAGI is your AGI plus certain deductions such as those for student loans, IRA contributions and higher education costs.
4. Bigger Deductions for Long-Term Care (LTC) Insurance Premiums
IRS rules allow LTC insurance policy owners to deduct more of their premiums in 2010 than in 2009. For example, those ages 51 to 60 can claim up to $1,230 in LTC insurance premiums this year, compared with $1,190 last year - about a 3% increase. Similar increases have been approved for other age groups as well: 40 and under, 41-50, 61-70 and 71 or over. At $330, the deduction is smallest for the 40-and-under age group. It rises progressively to a maximum of $4,110 for those ages 71 or over.
As you can probably imagine, the government has tinkered with the tax rules quite a bit more than this article describes. To see what other potentially beneficial changes have been made, check out a list called "Tax Changes for Individuals" at the IRS website. Who knows what other sorts of breaks you might unearth?
Wednesday, December 8, 2010
Conductor Job or Temporary NFL Position
There are a number of ways to look at this story. It sounds notable to place family over career, but if you have dreamed of a career in the NFL all of your life, do you seize the moment and take advantage of an opportunity, or do you become practical and realistic regarding the situation? What move would you make?It's not often that you see a perfectly healthy, NFL-ready person turn down an offer to join the roster of a playoff team, but Mississippi State grad Keith Fitzhugh, who has spent time with the New York Jets and Baltimore Ravens as an undrafted free-agent safety, has decided to respectfully decline a recent offer by the Jets to be a part of their active roster.
Rex Ryan's defense was looking for new blood after losing safeties Jim Leonhard and James Ihedigbo for the season to injuries. Despite their 45-3 killer loss to the Patriots on "Monday Night Football," the 9-3 Jets are still a near-mortal lock for the postseason, with possible Super Bowl glory in their future. So why would Fitzhugh say "no"?
Because he's thinking about his family and its financial security. He's currently a conductor for the Norfolk Southern Railroad, and he's had that job since the Jets released him in September. There was no venom behind Fitzhugh's decicion to turn down the team that cut him; it's more about Fitzhugh's father, who is disabled and unable to work.
"I told them I'm very thankful for the opportunity," Fitzhugh recently recalled to Jenny Vrentas of NJ.com. "But right now, being that [NFL employment] would be for just a couple weeks, I feel that I'd rather stay with a secure company and job, somewhere I know I could have long-term employment." Fitzhugh was the 12th-ranked safety coming out of college in 2009, according to NFLDraftScout.com. He is known as a dynamic hitter and good special teams player with some range in pass coverage. He caught the eye of scouts at the East-West Shrine game, and has advanced his talent forward enough to stay on the short list of replacement-need players. But Daniel Rose, Fitzhugh's agent, affirmed the thoughts behind his client's decision.
"The kid has more heart than anybody I know," Rose told Vrentas. "This is his dream, to play. I don't think this is the last you've heard of Keith Fitzhugh." Let's hope so. Fitzhugh is deferring his NFL dreams for all the right reasons, and that's the kind of guy whose dreams should come true down the road.
I unsure if this happened or not, but As I see it, he should have met with his current supervisor to see if a leave-of-absence was an option or what options if any were available to him, or he should have simply stepped out on faith. I am uncertain of his current salary but I am sure the league's pay would have been enough to carry him over until the next job, if negotiated properly. However, I do admire the man for thinking of his family needs instead of his own.
Friday, December 3, 2010
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