Tax Benefits for the Middle Class

       President Obama, has been hard at work ensuring our nation will rise to success and finally get out of the economic turmoil that we are suffering through. Reported by The New York Times, the senate brought a vote on the tax cut deal between President Obama and the Republicans.

But a hefty portion of the $858 billion tax package will benefit middle- and upper-middle-income Americans — precisely the demographic that felt neglected the last two years as the White House and Congress focused on the major health care law and on helping the unemployed and people facing foreclosure.

These new tax breaks are in addition to the cuts Mr. Obama had always planned to maintain on all but the highest incomes, and they could pay big political dividends to Mr. Obama and other Democrats in 2012 — a point that the president and some senior advisers are counting on, and one reason that they were willing to give in to Republican demands to extend all Bush-era tax rates.

Since our nation is mostly made up of the "middle class" it would only make sense to benefit those who are in it. President Obama, however is convinced that there is no economic benefit to lower taxes on the highest earners. The middle class would also benefit from one year payroll tax cut which will reduce Social Security income dramatically. The middle class has always been neglected when it came to major income changes. Now, for a change they can finally benefit from this tax paycuts.

Teen Idol has Gone Wild

   


     The young Miley Cyrus has made it big for herself in the last couple of years. Appearing on her own t.v. show, signing a Disney contract, and even writing/producing her own music. The teen star, turned into a young adult is a true icon to the young children everywhere. Its unbelievable how we could see Miley in the state of being high. While watching this video, it was saddening because she was completely unaware of the condition she was in. However she did bring this upon herself, and I know she will be taking a major hit in her success.

One of the Top World Power Could Possibly be Deteriorating...

     Through out all the economic turmoil, China was one of the very few who rose above it all. However, could all their success come to an end? Many are speculating, that China will endure a downfall to their economy. Reported by The New York Times, China could possibly face a major threat to their future...

But a growing number of economists now worry that China — the world’s fastest growing economy and a pillar of strength during the global financial crisis — could be stalled next year by soaring inflation, mounting government debt and asset bubbles. 

Two credit ratings agencies, Moody’s and Fitch Ratings, say China is still poised for growth, yet they have also recently warned about hidden risks in its banking system. Fitch even hinted at the possibility of another wave of nonperforming loans tied to the property market.

Naturally attracted to mass produce products, China may steer its economy towards domestic consumption, in hope to create a more balanced and sustainable growth. However, could this lead to their own demise? Inflation is being to take over, showing grave signs of a decrease in China's power. Not only is this a worry some thought for China's future, but to our future as well. Since China is the main supporter and keeper of the United States Treasury debt, any slowdown would also hurt American companies. China is always in constant demand for various resources, and this threatening outlook on their future could only lead to a problematic economy. 

Young Entrepreneurs Create Their Own Jobs

   After graduating from New York University, specializing in a film degree, and thousands of dollars stored away, the young Scott Gerber was motivated to create his own new-media and technology company. However, uncertain of marketing strategies, his company did not survive. Even after the shocking defeat of not having his company rise to success, Mr Gerber did not give up. New York Times presents, Mr. Gerber's inspirational story of how he started a company with almost nothing...

Still in debt, Mr. Gerber considered his career options. His mother kept encouraging him to get a “real” job, the kind that comes with an office and a boss. But, using the last $700 in his bank account, he decided to start another company instead.

Five years later, Gerber isn't considered to be a "millionaire" but he's managed to establish a stable life for himself. His long standing determination is what inspires many young graduates today. Its interesting how many students can come straight out of college and become an instant millionaire, merely by creating ground breaking new technology or product that attract many people today. Although, his success is something to celebrate, I feel students these days are finding an easier way out to becoming wealthy. It seems many of them don't work their way through jobs and steadily build an income. However, with that being said, it does take some brains to come up with a hot selling product, business or company (whatever it may be) that the world will love.

The Stockholm Bast

        As two explosions hit the city-center in Stockholm, Sweden it was known to be nothing but a terrorist attack. As the New York Times report, The Prime Minster was led to believe anger had arise from the anti-Islamic cartoons and the war in Afghanistan.

The police said that a car parked near the busy shopping street of Drottninggatan exploded first, shortly before 5 p.m. Stockholm time, and that the wreckage of the vehicle included gas canisters. A second blast followed minutes later, and about 200 yards from the first. A man’s body, with blast injuries to his abdomen, was discovered after the second explosion.

 A country that prided itself on creating a safe and protective environment for there people was now in shock.
The rise in Muslim immigration has escalated, causing the Swedish to panic. Over the past year, crime rates have increased in Sweden, with Muslims to blame.Would this eventually create an outbreak war between the Swedish and the Muslims? I suppose we will just have to find out what the future holds for those two nations...