[B]ut California too is now starting to hand it to bondholders. Cities in California are now testing the limits of bankruptcy law, and not paying the debt nor the payments for retirees to the state system. Thus this article describes how the state retirement system...
Finance
$55 Million Paid to Kids to Do Nothing
Records provided to CNN show that $54.5 million was spent on the NRI program, mostly through the governor's discretionary fund, which doesn't require legislative approval. The only data on the program's accomplishments come directly from the Illinois Violence...
Who Would Rather Not Work?
This first came up (recently at least) with the Hostess workers: Interviews with more than a dozen workers showed there was little sign of regret from employees who voted for the strike. They said they would rather lose their jobs than put up with lower wages and...
$45k/yr is the “New Rich”
Implemented in 1969 to make sure upper-income Americans pay their share of taxes, the AMT has increasingly snared more middle-income Americans over the years because it was never indexed for inflation. During the 2011 tax year for example, the higher tax hit single...