Dow 11,000: Déjà vu all over again?
April 12, 2010 by Pamela Yellen · 13 Comments
Bill Clinton was President, the world awaited the potentially disastrous consequences of the Y2K computer bug, and – oh, yeah – the Dow closed above 11,000 for the first time in history.
The date was May 3rd, 1999, and to quote Yogi Berra, nearly eleven years later,
The Wall Street spin-makers are pointing out what a “big accomplishment it is for a measure that was below 7,000 only a year ago” to recapture the 11,000 level.
Before we pop the cork on a bottle of champagne, here’s a few sobering questions to ask yourself…
No new taxes?!?
September 19, 2009 by Pamela Yellen · 3 Comments
Did you know that the U.S. income tax was first instituted in 1913?
1913 Form 1040 Tax Return
I recently came across a copy of the very first IRS Income Tax Form 1040 our forefathers were required to file and wanted to share it with you.
But BEFORE I show you the rest of it, take a guess at the answers to these four questions:
- What percentage of taxable income do you think the average family paid back then?
- What was the top percentage paid by the very wealthiest Americans?
- How many pages long do you think that first tax return was?
- How many pages were the instructions needed to complete the form?
The answers to these questions may shock you!
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