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GATEWAY LAUNCHES NV59C66U NOTEBOOK

WITH INTEGRATED WIMAX, NEW PREMIUM DESIGN

New model available now with WiMAX wireless connectivity and a deluxe look and feel; Entire line updated with latest performance technology at affordable prices

IRVINE, Calif., Sept. 29, 2010 – Gateway today unveils the Gateway NV59C66u notebook, the newest model in its Gateway NV Series line of notebooks, which features integrated WiMAX capabilities, a premium chassis design and a robust configuration.

Customers can pair the Gateway NV59C66u with integrated WiMAX hardware, and then choose a WiMAX service provider to connect to networks in a growing number of cities and metropolitan areas around the United States for a fast and reliable connection to the Internet. WiMAX is the next-generation of wireless technology designed to enable pervasive, high-speed mobile Internet access at an affordabe cost, and is the first all-IP mobile Internet solution enabling efficient and scalable networks for data, video, and voice..

The WiMAX card in the Gateway NV59C66u is the Intel® 6250 wireless card, which provides a reliable connection to both WiMAX and Wi–Fi networks. As a result, customers using WiMAX on the Gateway NV59C66u will be able to connect while moving around their coverage area, making the notebook ideal for small business owners that move about a specific urban area, such as realtors and salespeople, as well as students and other tech-savvy individuals that want to remain connected.

“The availability of the Gateway NV59C66u comes at an opportune time for customers who want a consistently reliable and fast connection to the Internet through either WiMAX service, which is rolling out this year in more metropolitan areas or 802.11 b/g/n WiFi connections to hot spots and WiFi networks,” said Ray Sawall, senior product marketing manager for Gateway notebooks. “In addition, the performance, feature-set and affordability of notebooks have increased dramatically to make them an even more appealing option to customers who want an all-purpose PC – and that’s incredibly evident here in the entire Gateway NV Series and with the new Gateway NV59C66u with integrated WiMAX.”

Complementing the new WiMAX capabilities, the Gateway NV59C66u features a new design with an attractive tone-on tone patterned espresso chassis that is visually interesting and stylish. The metal chassis and palm rest both appear to be dramatically textured, but feel subtle and comfortable to the touch.

The Gateway NV59C66u will soon be followed by additional new models in the Gateway NV Series line that come in a range of configurations and prices to meet the needs of a different types of PC customers such as small businesses, families and students.

Latest Technology for Staying Productive and In Touch

With reliable and fast processing technology, the Gateway NV Series notebooks deliver tangible benefits to customers, including the ability to handle multiple applications at once. The Gateway NV Series feature Intel Core i3 and Core i5 as well as AMD Athlon and AMD Turion, processors, supported by up to 4GB of DDR3 memory that is upgradeable to 8GB. Ample storage space is available for with high-capacity hard drives ranging from 320GB to 500GB(1).

In addition to featuring an Intel Centrino Advanced-N+WiMAX 6250 WiMAX Wireless Card for a connection to WiMAX networks, the Gateway NV59C66u also has integrated 802.11b/g/n WiFi Certified connectivity for a convenient connection to hot spots and wireless networks, as do other models in the Gateway NV Series line. The integrated High Definition webcam allows web chats and video emails in incredible clarity thanks to its 1280×1024 resolution. Also, Gigabit Ethernet LAN connectivity ensures a fast wired online connection.

Visually complementing the performance technology in the Gateway NV Series’ is the High Definition LED-backlit TFT Widescreen display. Delivering crisp and clear video with vibrant color and detailed images, the Gateway NV Series have models in two sizes: The Gateway NV Series with a 15.6-inch display deliver 1366×768 resolution, while the Gateway NV Series with a large 17.1-inch display provide even more clarity with 1600×900 resolution. Customers who want to share video on the go can use the HDMI port to connect the Gateway NV Series to a home theater or external LCD to deliver crisp high-quality visuals and high-fidelity audio with a single cable.

Extra Features Make Life Easier

The Gateway NV59C66u and Gateway NV Series are complemented by extra features in the line that make it incredibly enjoyable and useful. Navigating websites, moving between documents and even inputting characters is incredibly enjoyable thanks to the notebooks’ multi-gesture touchpad, touchpad lock, and dedicated numeric keypad.

The Gateway NV Series comes with either DVD or Blu-Ray drives, giving customers a way to view the latest movies. Also, digital media can be downloaded to the notebooks through the media card reader and USB ports. Protecting media and other files on the PC is easy, since the Gateway NV Series includes MyBackup functionality that gives customers a way to quickly and easily back-up all important files to another location such as a USB drive or another hard drive.

Gateway’s popular “social networking” button is integrated into the NV Series, so customers can access their social networks, including Facebook, YouTube and Flickr, with a single touch of a button.

Gateway NV Series Availability, Price and Configuration

The Gateway NV Series will be available at retailers nationwide over the coming weeks at prices starting at $479.99. The Gateway NV59C66u with integrated WiMAX is priced at $699.99 and is available now.

Consumer advocacy groups seem upset with concerns about internet privacy, while research indicates the average consumer will and is sharing more information than ever if they are promised something of value in return.  Target starts selling Facebook credits gift cards and we already know how 7-11 stores are pimped out in Farmville branding. No one is talking about Foursquare anymore as all eyes were on Apple this week. On the bright side you can locate the best medicinal marijuana in your neighborhood using Weedmaps.com

FollowStyle has entered the shopping experience market creating a hip network of fashion minded people to post their outfits, tag products and truly rate the sexiness of clothes. Pretty soon when you are shopping at a retail store you will be getting text (SMS) coupons, can take digital photos while trying things on and even have apps to make suggestions of how to look better or create a more ‘personalized’ look.  How scary is that to make the clothing and fashion experience a wide open show for the web?  To some that might be appealing, to others concerning. Even better, what are the retail shops going to do about this dilemma?  As a corporation how do you cater to what is becoming a social media divide? Old school vs. new school.

What we learned this week about Consumer Web:

• Privacy is not sexy


• Advertising standards are increasing


• Mobile is the new internet

Privacy is not sexy

Consumers are either concerned about privacy or concerned about getting the best deal and neither are sexy.  The world is open and increasingly information spreads across the internet at a pace that isn’t being met by legislation or regulations that would normally decide the rules of “right and wrong” on the internet.  Sure there is the FTC but they are pretty busy handling a sleuth of violations occurring on old regulations, where’s the time to make new ones?  Besides spamming the entire internet with violators and organizations seen as anti-privacy like Google, its a bit ironic to share information about how information should not be shared.

Advertising standards are increasing

It used to be easier to hide small print on a coupon or to even slightly mislead one or two consumers here and there but now as people connect with one another and do research online, its becoming more difficult to “scam” the consumer. Knowing that information is traveling fast and consumers are becoming aware of resources to help protect them its making the level of advertisement increase and quite frankly be more transparent.  The downside of this is that things will take longer to process and companies will be more protective of their brands and external voice.  A last minute genius marketing campaign may get overlooked because not enough due diligence could be done before hand to examine risk.

Mobile is the new internet

Is mobile mobile anymore? Everyone is on the go and not stuck in one place.  Remember when the telephone had to be used only in the household?  I don’t, but at some point in time people could only talk to someone at a different location from one stationary location.  My prediction is that soon mobile will just be “internet.” Mobile is comparative to something that is not moving, but if everything is moving it doesn’t make sense to point out the obvious.

Next week a few more start-ups will be entering the Consumer Web space but with the retail season starting to warm up with back-to-school and soon holiday shopping, I would keep my eye to see what retail campaigns come out this year.  Should be impressive.

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Nintendo: 4m 3DS sales in first month 3DS <b>News</b> - Page 1 <b>...</b>

Read our 3DS news of Nintendo: 4m 3DS sales in first month.

New York Times Backs <b>News</b>-Aggregation Software Company - Digits - WSJ

The New York Times Co. is joining a group of news organizations in backing the maker of software that helps publishers aggregate news, according to a person familiar with the matter.

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GATEWAY LAUNCHES NV59C66U NOTEBOOK

WITH INTEGRATED WIMAX, NEW PREMIUM DESIGN

New model available now with WiMAX wireless connectivity and a deluxe look and feel; Entire line updated with latest performance technology at affordable prices

IRVINE, Calif., Sept. 29, 2010 – Gateway today unveils the Gateway NV59C66u notebook, the newest model in its Gateway NV Series line of notebooks, which features integrated WiMAX capabilities, a premium chassis design and a robust configuration.

Customers can pair the Gateway NV59C66u with integrated WiMAX hardware, and then choose a WiMAX service provider to connect to networks in a growing number of cities and metropolitan areas around the United States for a fast and reliable connection to the Internet. WiMAX is the next-generation of wireless technology designed to enable pervasive, high-speed mobile Internet access at an affordabe cost, and is the first all-IP mobile Internet solution enabling efficient and scalable networks for data, video, and voice..

The WiMAX card in the Gateway NV59C66u is the Intel® 6250 wireless card, which provides a reliable connection to both WiMAX and Wi–Fi networks. As a result, customers using WiMAX on the Gateway NV59C66u will be able to connect while moving around their coverage area, making the notebook ideal for small business owners that move about a specific urban area, such as realtors and salespeople, as well as students and other tech-savvy individuals that want to remain connected.

“The availability of the Gateway NV59C66u comes at an opportune time for customers who want a consistently reliable and fast connection to the Internet through either WiMAX service, which is rolling out this year in more metropolitan areas or 802.11 b/g/n WiFi connections to hot spots and WiFi networks,” said Ray Sawall, senior product marketing manager for Gateway notebooks. “In addition, the performance, feature-set and affordability of notebooks have increased dramatically to make them an even more appealing option to customers who want an all-purpose PC – and that’s incredibly evident here in the entire Gateway NV Series and with the new Gateway NV59C66u with integrated WiMAX.”

Complementing the new WiMAX capabilities, the Gateway NV59C66u features a new design with an attractive tone-on tone patterned espresso chassis that is visually interesting and stylish. The metal chassis and palm rest both appear to be dramatically textured, but feel subtle and comfortable to the touch.

The Gateway NV59C66u will soon be followed by additional new models in the Gateway NV Series line that come in a range of configurations and prices to meet the needs of a different types of PC customers such as small businesses, families and students.

Latest Technology for Staying Productive and In Touch

With reliable and fast processing technology, the Gateway NV Series notebooks deliver tangible benefits to customers, including the ability to handle multiple applications at once. The Gateway NV Series feature Intel Core i3 and Core i5 as well as AMD Athlon and AMD Turion, processors, supported by up to 4GB of DDR3 memory that is upgradeable to 8GB. Ample storage space is available for with high-capacity hard drives ranging from 320GB to 500GB(1).

In addition to featuring an Intel Centrino Advanced-N+WiMAX 6250 WiMAX Wireless Card for a connection to WiMAX networks, the Gateway NV59C66u also has integrated 802.11b/g/n WiFi Certified connectivity for a convenient connection to hot spots and wireless networks, as do other models in the Gateway NV Series line. The integrated High Definition webcam allows web chats and video emails in incredible clarity thanks to its 1280×1024 resolution. Also, Gigabit Ethernet LAN connectivity ensures a fast wired online connection.

Visually complementing the performance technology in the Gateway NV Series’ is the High Definition LED-backlit TFT Widescreen display. Delivering crisp and clear video with vibrant color and detailed images, the Gateway NV Series have models in two sizes: The Gateway NV Series with a 15.6-inch display deliver 1366×768 resolution, while the Gateway NV Series with a large 17.1-inch display provide even more clarity with 1600×900 resolution. Customers who want to share video on the go can use the HDMI port to connect the Gateway NV Series to a home theater or external LCD to deliver crisp high-quality visuals and high-fidelity audio with a single cable.

Extra Features Make Life Easier

The Gateway NV59C66u and Gateway NV Series are complemented by extra features in the line that make it incredibly enjoyable and useful. Navigating websites, moving between documents and even inputting characters is incredibly enjoyable thanks to the notebooks’ multi-gesture touchpad, touchpad lock, and dedicated numeric keypad.

The Gateway NV Series comes with either DVD or Blu-Ray drives, giving customers a way to view the latest movies. Also, digital media can be downloaded to the notebooks through the media card reader and USB ports. Protecting media and other files on the PC is easy, since the Gateway NV Series includes MyBackup functionality that gives customers a way to quickly and easily back-up all important files to another location such as a USB drive or another hard drive.

Gateway’s popular “social networking” button is integrated into the NV Series, so customers can access their social networks, including Facebook, YouTube and Flickr, with a single touch of a button.

Gateway NV Series Availability, Price and Configuration

The Gateway NV Series will be available at retailers nationwide over the coming weeks at prices starting at $479.99. The Gateway NV59C66u with integrated WiMAX is priced at $699.99 and is available now.

Consumer advocacy groups seem upset with concerns about internet privacy, while research indicates the average consumer will and is sharing more information than ever if they are promised something of value in return.  Target starts selling Facebook credits gift cards and we already know how 7-11 stores are pimped out in Farmville branding. No one is talking about Foursquare anymore as all eyes were on Apple this week. On the bright side you can locate the best medicinal marijuana in your neighborhood using Weedmaps.com

FollowStyle has entered the shopping experience market creating a hip network of fashion minded people to post their outfits, tag products and truly rate the sexiness of clothes. Pretty soon when you are shopping at a retail store you will be getting text (SMS) coupons, can take digital photos while trying things on and even have apps to make suggestions of how to look better or create a more ‘personalized’ look.  How scary is that to make the clothing and fashion experience a wide open show for the web?  To some that might be appealing, to others concerning. Even better, what are the retail shops going to do about this dilemma?  As a corporation how do you cater to what is becoming a social media divide? Old school vs. new school.

What we learned this week about Consumer Web:

• Privacy is not sexy


• Advertising standards are increasing


• Mobile is the new internet

Privacy is not sexy

Consumers are either concerned about privacy or concerned about getting the best deal and neither are sexy.  The world is open and increasingly information spreads across the internet at a pace that isn’t being met by legislation or regulations that would normally decide the rules of “right and wrong” on the internet.  Sure there is the FTC but they are pretty busy handling a sleuth of violations occurring on old regulations, where’s the time to make new ones?  Besides spamming the entire internet with violators and organizations seen as anti-privacy like Google, its a bit ironic to share information about how information should not be shared.

Advertising standards are increasing

It used to be easier to hide small print on a coupon or to even slightly mislead one or two consumers here and there but now as people connect with one another and do research online, its becoming more difficult to “scam” the consumer. Knowing that information is traveling fast and consumers are becoming aware of resources to help protect them its making the level of advertisement increase and quite frankly be more transparent.  The downside of this is that things will take longer to process and companies will be more protective of their brands and external voice.  A last minute genius marketing campaign may get overlooked because not enough due diligence could be done before hand to examine risk.

Mobile is the new internet

Is mobile mobile anymore? Everyone is on the go and not stuck in one place.  Remember when the telephone had to be used only in the household?  I don’t, but at some point in time people could only talk to someone at a different location from one stationary location.  My prediction is that soon mobile will just be “internet.” Mobile is comparative to something that is not moving, but if everything is moving it doesn’t make sense to point out the obvious.

Next week a few more start-ups will be entering the Consumer Web space but with the retail season starting to warm up with back-to-school and soon holiday shopping, I would keep my eye to see what retail campaigns come out this year.  Should be impressive.

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Nintendo: 4m 3DS sales in first month 3DS <b>News</b> - Page 1 <b>...</b>

Read our 3DS news of Nintendo: 4m 3DS sales in first month.

New York Times Backs <b>News</b>-Aggregation Software Company - Digits - WSJ

The New York Times Co. is joining a group of news organizations in backing the maker of software that helps publishers aggregate news, according to a person familiar with the matter.

Kinect will talk to MSN Messenger Xbox 360 <b>News</b> - Page 1 <b>...</b>

Read our Xbox 360 news of Kinect will talk to MSN Messenger.

benchcraft company scam bench craft company rip off

Nintendo: 4m 3DS sales in first month 3DS <b>News</b> - Page 1 <b>...</b>

Read our 3DS news of Nintendo: 4m 3DS sales in first month.

New York Times Backs <b>News</b>-Aggregation Software Company - Digits - WSJ

The New York Times Co. is joining a group of news organizations in backing the maker of software that helps publishers aggregate news, according to a person familiar with the matter.

Kinect will talk to MSN Messenger Xbox 360 <b>News</b> - Page 1 <b>...</b>

Read our Xbox 360 news of Kinect will talk to MSN Messenger.

bench craft company rip off bench craft company rip off

Nintendo: 4m 3DS sales in first month 3DS <b>News</b> - Page 1 <b>...</b>

Read our 3DS news of Nintendo: 4m 3DS sales in first month.

New York Times Backs <b>News</b>-Aggregation Software Company - Digits - WSJ

The New York Times Co. is joining a group of news organizations in backing the maker of software that helps publishers aggregate news, according to a person familiar with the matter.

Kinect will talk to MSN Messenger Xbox 360 <b>News</b> - Page 1 <b>...</b>

Read our Xbox 360 news of Kinect will talk to MSN Messenger.

benchcraft company scam

managing your personal finances

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• 2010 Distracted Driving Summit: What’s next for combating driver distractions?
  
  



• What's the deal with car tire pricing?
  
  



• Q&A: Short on salt
  
  



• Daily electronics deals
  
  



• 6 painless ways to cut your grocery bill
  
  



• Go green for school supplies
  
  

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Tax The Rich! (9pm Saturday on Fox <b>News</b> Channel) « John Stossel

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Tax The Rich! (9pm Saturday on Fox <b>News</b> Channel) « John Stossel

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manage personal finances

From Hotline (HT: Mataconis):

O'Donnell, a perennial conservative candidate in Delaware, is challenging moderate Rep. Mike Castle (R), the clear favorite of the GOP establishment. But she has come under fire recently for her personal financial problems. Reports have surfaced that she owed $10K in back taxes, defaulted on her mortgage and holds outstanding campaign debt.

Levi Russell, a spokesman for the group, told Hotline On Call that the group was not aware of O'Donnell's personal financial problems before it endorsed her.

"We don't know the exact situation," he said.

When asked if the group discussed the issues with O'Donnell, Russell responded: "No we haven't. We don't really have any contact with the campaign or the candidate."

We have blogged before reasons why we support Mike Castle over O'Donnell. But this report raises even more questions, such as:

1. If the Tea Party really stands for fiscal conservatism, why would they endorse somebody who can't even manage her personal finances?


2. Does it give you confidence in the Tea Party that they go around endorsing people without having any contact with the candidate? How do they know that this female version of Harold Stassen is really worthy of such an endorsement?


3. Christine O'Donnell has run for office 4 times. Her sole victory was an uncontested Republican primary.


4. In 2008, O'Donnell lost the Delaware senate race to Joe Biden by 65-35. She later falsely claimed to have won two counties in that race. Biden's percentage of the vote in 2008 was the largest of any of his senatorial campaigns.


5. In 2008, one of the great Democratic landslides, Mike Castle beat his Democratic challenger for Delaware's sole Congressional seat by 23 points. Castle has won 13 consecutive state-wide races as a candidate either for Governor or Congressman. He's way ahead of the Democrat in the polls while O'Donnell trails the Democrat by 10 points.

As a student of Delaware corporate governance, I am firmly convinced that Delaware needs quality representation in Congress if it is to fend off the creeping federalization of corporate law. As a big tent Republican, I'm inclined to support smart, electable, centrists like Mike Castle over someone like O'Donnell. The perfect must not be allowed to become the enemy of the good. Especially when the supposed perfect candidate is pretty seriously flawed and probably unelectable.

This post is from staff writer Sierra Black. Sierra writes about frugality, sustainable living, and getting her kids to eat kale at Childwild.com. This post is part of Book Week at Get Rich Slowly.

Since my twin victories of paying off our last credit card and funding a summer of travel, my husband has begun to show interest in personal finance.

It’s not that he wasn’t supportive of my efforts before — he just preferred to support them from a safe, ignorant distance. A distance from which I handed him an envelope of cash each week to do the grocery shopping, he didn’t ask too many questions, and somehow we were climbing out of debt. He was more than happy to adopt any frugal-living strategy I suggested, as long as he didn’t have to think about the Big Picture.

That system worked, but I longed for more active participation from him. Not only because I wanted us to share equally in the journey toward financial freedom — I do want that — but also for a selfish reason. I wanted him to participate because he’s better at this stuff than I am. He’s a whiz at spreadsheets. The man has a Ph.d in Physical Chemistry. You don’t get one of those without doing a few math problems.

Lately, I’ve been getting my wish. My husband has been talking with a financial advisor at the university he works for, and having clear, honest conversations with me about our money.

This seemed like the perfect time for me to read Mary Hunt’s How to Debt-Proof Your Marriage.

Relationship first

Hunt’s book covers the basics of personal finance and debt destruction, with a special focus on doing it as a couple. Before she even begins talking about financial management, Hunt talks about strengthening the foundations of your marriage. You can’t have financial harmony without emotional intimacy, she says.

I couldn’t agree more. It’s clear in my own marriage that spending time relaxing together on vacation helped my husband and me both chill out and have better conversations during our family finance meetings too.

Hunt and I part ways in the chapters about how to achieve that emotional intimacy, though. She bases her prescription for marital bliss on traditional gender roles. She includes chapters for each sex on how to make deposits in the other’s Love Bank — a metaphorical bank of goodwill made of small, loving gestures.

The Love Bank is an adorable idea, one I’m tempted to put into practice here in my own home. I’m pretty sure I won’t be making my deposits to my husband’s Love Bank by biting my tongue when I disagree with him, though. Likewise, I don’t expect him to express his love for me by bringing me flowers and handling all the tough decisions for me like the natural leader of our family should.

Hunt is a generation (or two) older than I am, and what works for her marriage is so foreign to my young, feminist mind that it was actually a little hard to read. But leaving aside the details of how you get to an intimate marriage, though, she and I agree wholeheartedly that it’s important to get your emotional needs met before you can effectively work together with your spouse to manage your finances.

Money second

The personal-finance half of the book will be familiar to most GRS readers. Hunt advocates an approach similar to Your Money or Your Life and Dave Ramsey’s Total Money Makeover, one that begins with calculating your net worth and tracking your expenses. From there, she covers the basics of setting up an emergency fund, creating a spending plan, and starting a debt snowball (though she uses different terms for these steps).

Like her ideal of a healthy relationship, Hunt’s financial advice seems a little dated in places. A lot of it has to do with how to organize your three-ring binders, or how to painstakingly accomplish by-hand calculations that Mint can do for you in a few minutes. If you’re a devotee of the pen-and-paper approach, though, her chapters on how to track and plan your spending are rock solid and detailed enough to easily follow.

The one thing in this book that made me want to put it down, run to my office, and implement it on the spot was, in fact, her filing system. Hunt takes a few pages to go over exactly what personal records you should be keeping, and outlines an elegant effective way to organize them. I spent an hour tearing apart my filing cabinet yesterday as soon as I read those pages. I may not want my marriage to look much like hers, but I’m delighted to have made over my filing cabinet in Mary Hunt’s image.

Different views

There are a few areas where Mary’s financial advice deviates from the usual Get Rich Slowly formula. One is the matter of the debt snowball. She encourages readers to start saving 10% of their income towards an emergency fund immediately, while still paying the minimums on their credit cards. Only after saving up a fully funded six-month emergency fund would Hunt advise you to roll those savings into your credit card payments.

Given the relative interest rates on credit cards and savings accounts, this approach will almost certainly cost you money. If it works for you psychologically, though, by all means pursue it. No matter what order you do them in, the key steps of tracking your spending, creating an emergency fund, and snowballing your debt payments will lead you to financial security.

Another place where she breaks with conventional wisdom is in her savings and spending ratios. GRS readers are familiar with the Balanced Money Formula that encourages us to use 50% of our money for living expenses, 30% for fun and 20% for savings. Hunt advises 10% for giving, 10% for saving and 80% for spending.

The order of those percentages is vital to her. A devout Christian, Hunt feels that all the money that comes into your life is a blessing from God, and promptly giving 10% of it back to God shows you can be trusted with this blessing, and more of it will come your way.

I’m not a Christian, but I admire Mary’s faith and devotion to charitable giving. It’s a goal of mine to give 10% of my income. I’ve written about that here before, and readers made a persuasive case for waiting until my debts were paid before giving so much away. For now, I give a modest amount and look forward to giving more in the future.

I think that for Hunt, the psychological benefits of giving 10% and saving 10% before you make any spending decisions at all outweigh the financial benefits of paying off your debts as fast as possible and then beginning to accumulate and donate wealth.

It’s an interesting approach, and one that might work for a lot of people. Particularly if you’re a devoted Christian and looking for a personal-finance book that reflects your values, you’ll find a lot of good in How to Debt-Proof Your Marriage. If you’re looking for a book that’s totally focused on financial savvy and relationship skills, though, this might not be your best bet.

url

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9:08 am PST: The judge has thrown the book at Lindsay. Her bail was revoked. She was handcuffed and taken into custody. A probation hearing was set for October 22nd. Lindsay appeared stunned. 8:22 am PDT: Lindsay has entered the ...

FARC commander &#39;Mono Jojoy&#39; killed - Colombia <b>news</b> | Colombia Reports

One of the FARC's most senior commanders, Mono Jojoy, was killed by Colombian state forces, several media said on Thursday. The news is not yet confirmed by the authorities.

Artnet <b>News</b>: Gang assaults Turkish galleries. Plus, Miami <b>...</b>

ARTNET NEWS. Gang assaults Turkish galleries. Plus, Miami Sculpture Biennial, Prospect 1.5 New Orleans, more.

foreclosure investing

Two bad economic reports this morning reinforce today’s call by 300 economists and policymakers urging the president and Congress to “redouble efforts to create jobs” through investment in infrastructure, sending aid to the states and creating public service jobs.

First, the bad news.

• U.S. poverty hit its highest rate since 1994, according to the U.S. Census Bureau. In 2009, one in seven people were in poverty, and one in five children were in poverty.  


• U.S. home seizures reached a record for the third time in five months in August as lenders completed the foreclosure process for thousands of delinquent owners, according to RealtyTrac Inc. Bank repossessions climbed 25 percent from a year earlier to 95,364. RealtyTrac sees a record 1.2 million repossessions this year, up from just under 1 million last year, with more than 3.2 million homes in some stage of foreclosure.

Such data make all the more relevent the statement by 300 prominent economists, “Don’t Kill Growth and Jobs in the Name of Deficit Reduction.”  In short, the statement urges the president and lawmakers:

• Don’t kill growth and jobs in the name of deficit reduction.


• Target what drives deficits. Don’t fix what isn’t broken.


• Restore fiscal responsibility, while investing in the future.


• Take the high road to fiscal balance.

In a conference call today with some of the signers, Campaign for America’s Future co-director Robert Borosage said the statement is:

a cry action on the economy—for a return to common sense.

In urging Washington to focus on bold initiatitves and massive job creation rather than deficit reduction, Borosage said the reason is simple: More unemployment will only reduce government income, which in turn will lead to a higher budget defict.

Robert Reich, former labor secretary, put it this way on today’s conference call:

Some people point to the fact that U.S. economy is tech growing…but what we learned is that it’s slowing.

Last quarter’s sorry 1.6 percent growth in gross domestic product (GDP):

should be a warning sign to everyone that we are not just in danger of a double dip recession, but that we are not getting out of the hole at all.

What you expect when an economy is getting out of the hole is rapid economic growth [because so many people are ready to jump into the production process]. But this time it’s not happening. This is a very dangerous sign.

Borosage says in contrast, the position of  House Minority Leader John Boehner, who says he and the Republicans will cut $100 billion from the budget if they get a majority in the House this November,

condem us to higher unemployment and continued stagnation.

With more than 26 million unemployed and underemployed U.S. workers, a dire need to rebuild the nation’s infrastructure and shore up vital socal services, Borosage said:

Anyone with a wit of business sense would grab this moment as the time to rebuild America.

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Need-to-know No. 1: The fine print associated with the type of auction you're attending. If you plan to score your bargain-basement unit at the foreclosure auction on the steps of the county courthouse, consult with a local real estate attorney and make sure you conduct an exhaustive title search before you make your bid. It's possible to purchase one of these properties and still have to contend with other liens still on the property, like second (or third) mortgages, back property taxes and Homeowners Association (HOA) dues unpaid by the former owner.



Under the law in nearly half of the states, when you buy a place at the foreclosure auction, the former owner has anywhere from six months to a year after the auction to "redeem" their rights to the property, meaning they have the legal right to buy it back from you.



If you're buying the property at an auction of REO properties (Real Estate Owned by the bank), make sure you read 100% of the terms and conditions of the auction. Many auctions will allow you to get a property inspection -- go figure -- so you should. They will also often allow you to use a mortgage to finance your purchase, which the courthouse foreclosure auctions do not.



However, most of these REO auctions do take a non-refundable cash deposit from the auction winner, and do add some sort of "buyer's premium" on top of the winning bid -- some as high as 5%. That extra cash can make it tougher to get positive cash flow out of the place.



Get clear on the fine print before you buy at any property auction.



Need-to-know No. 2: Your numbers. Many a wanna-be investor thinks, "Hey -- it's a $50,000 condo. If I get $1,000 in rent -- I'll be making cash hand-over-fist." And there ends their cash flow analysis. Seasoned investors know, though, that there are always more line items to the story. If you're thinking about investing in even the cheapest of cheap condos, you still need to create a written cash flow projection, or pro forma, to see how feasible it is that the investment will actually pay off.



If you plan to finance your investment with a mortgage, you must factor in the mortgage payment, mortgage insurance (if you put less than 20% down), and closing costs. And, even if you are able to buy a cheap condo with cash, you still need to take into account the costs of HOA dues, property taxes, landlord's insurance, any utilities landlords pay in your neck of the woods (like water and gas), a property manager and repairs.



You should also include an allowance for long-term maintenance, possible special assessments by the HOA and vacancies -- every landlord deals with occasional months where no rental payments come in. And you should definitely have a chat with your tax adviser about the deductions you should factor in, and the income tax you may incur on the rental income.



Then, offset that -- on paper -- by the average rents being received by other landlords in the complex or the area. If you're only making $3.75 per month in the projections, you might decide that other investments are more sensible.



Need-to-know No. 3: Whether the HOA and the complex are healthy. Sacramento, Calif., real estate agent Stacey Wilson thought she'd scored, big-time, when she invested in a two-bedroom, two-and-a-half bath condo for $40,000 in September of 2009, especially since the place had gone for $175,000 in 2007. After closing, though, it quickly dawned on Wilson that the complex and the HOA were both broke.



"Take a look around and see whether things are in working order," Wilson advises prospective condo investors. "When things are broken, find out how long they've been broken." Wilson's complex has two pools and a sauna, but "none of them works -- and they haven't worked in years."



Also, Wilson's unit is in an HOA riddled with a sky-high rate of delinquent dues, so it can't afford to repair the pools and sauna, nor does it have the cash to replace the wood shake roofs on all the buildings. "We only have a couple of years of roof life left, and now the hazard insurance company is threatening to drop our coverage, because they see the wood roof as a fire hazard," Wilson explains. "It's really important to read every page of the HOA disclosures you get during escrow, and make sure they're solvent. If the HOA is broke, it can create a domino effect of problems."



Need-to-know No. 4: The landlord-tenant laws and restrictions of your city or HOA. Many urban areas, in particular, have rent-control and eviction-control laws that limit your ability to raise the rent, or to evict a tenant without having a particularly strong reason for doing so -- sometimes even requiring landlords to pay tenants to move out.



And because the percentage of owner-occupied units impacts the ability of an HOA's members to resell and refinance their homes (many banks won't offer mortgages in complexes with fewer than 75% of the units being owner-occupied), many HOAs put a cap on how many units can be rented out. If you're planning to buy the condo as a rental property, it behooves you to know how feasible and how desirable it is to be a landlord in that complex and town before you buy.



Need-to-know No. 5: Where goes the neighborhood. Wilson's foray into dirt-cheap condo investing turned into a true adventure when circumstances led to her moving into the property she thought she'd never live in. Turned out, the nighttime goings-on in her new neighborhood were unlike anything she ever expected from her exclusively daytime experiences in the area. Before investing in a discount condo, Wilson advises, act like someone house hunting for their personal residence, and "go by the place at night and on the weekends. You'd be surprised at how different a place can be at night."



The fact that a condo is so inexpensive might actually be a signal that the neighborhood may not be one you want to spend much time in, even as a landlord. Wilson says, with 20/20 hindsight, "If it's really cheap, it's probably not in the best place."

Real Estate <b>News</b>: Existing Home Sales Rise - Developments - WSJ

Here is a look at real-estate news in today's WSJ.

<b>News</b> Anchor Barbie: &#39;A flair for journalism -- and power pink <b>...</b>

Astronaut Barbie, Newborn Baby Doctor Barbie and Rock Star Barbie, get ready to answer some tough questions asked by journalist Barbie. The 125th -- and newest -- career path for Mattel's 51-year-old doll is news anchor, and she's ...

Dallas Cowboys <b>News</b> &amp; Notes - Blogging The Boys

News & Notes about the Dallas Cowboys for Thursday, Sept. 23rd.

robert shumake

Real Estate <b>News</b>: Existing Home Sales Rise - Developments - WSJ

Here is a look at real-estate news in today's WSJ.

<b>News</b> Anchor Barbie: &#39;A flair for journalism -- and power pink <b>...</b>

Astronaut Barbie, Newborn Baby Doctor Barbie and Rock Star Barbie, get ready to answer some tough questions asked by journalist Barbie. The 125th -- and newest -- career path for Mattel's 51-year-old doll is news anchor, and she's ...

Dallas Cowboys <b>News</b> &amp; Notes - Blogging The Boys

News & Notes about the Dallas Cowboys for Thursday, Sept. 23rd.

Two bad economic reports this morning reinforce today’s call by 300 economists and policymakers urging the president and Congress to “redouble efforts to create jobs” through investment in infrastructure, sending aid to the states and creating public service jobs.

First, the bad news.

• U.S. poverty hit its highest rate since 1994, according to the U.S. Census Bureau. In 2009, one in seven people were in poverty, and one in five children were in poverty.  


• U.S. home seizures reached a record for the third time in five months in August as lenders completed the foreclosure process for thousands of delinquent owners, according to RealtyTrac Inc. Bank repossessions climbed 25 percent from a year earlier to 95,364. RealtyTrac sees a record 1.2 million repossessions this year, up from just under 1 million last year, with more than 3.2 million homes in some stage of foreclosure.

Such data make all the more relevent the statement by 300 prominent economists, “Don’t Kill Growth and Jobs in the Name of Deficit Reduction.”  In short, the statement urges the president and lawmakers:

• Don’t kill growth and jobs in the name of deficit reduction.


• Target what drives deficits. Don’t fix what isn’t broken.


• Restore fiscal responsibility, while investing in the future.


• Take the high road to fiscal balance.

In a conference call today with some of the signers, Campaign for America’s Future co-director Robert Borosage said the statement is:

a cry action on the economy—for a return to common sense.

In urging Washington to focus on bold initiatitves and massive job creation rather than deficit reduction, Borosage said the reason is simple: More unemployment will only reduce government income, which in turn will lead to a higher budget defict.

Robert Reich, former labor secretary, put it this way on today’s conference call:

Some people point to the fact that U.S. economy is tech growing…but what we learned is that it’s slowing.

Last quarter’s sorry 1.6 percent growth in gross domestic product (GDP):

should be a warning sign to everyone that we are not just in danger of a double dip recession, but that we are not getting out of the hole at all.

What you expect when an economy is getting out of the hole is rapid economic growth [because so many people are ready to jump into the production process]. But this time it’s not happening. This is a very dangerous sign.

Borosage says in contrast, the position of  House Minority Leader John Boehner, who says he and the Republicans will cut $100 billion from the budget if they get a majority in the House this November,

condem us to higher unemployment and continued stagnation.

With more than 26 million unemployed and underemployed U.S. workers, a dire need to rebuild the nation’s infrastructure and shore up vital socal services, Borosage said:

Anyone with a wit of business sense would grab this moment as the time to rebuild America.

Print This Article
| E-Mail This Article
|Comments
(2)

Need-to-know No. 1: The fine print associated with the type of auction you're attending. If you plan to score your bargain-basement unit at the foreclosure auction on the steps of the county courthouse, consult with a local real estate attorney and make sure you conduct an exhaustive title search before you make your bid. It's possible to purchase one of these properties and still have to contend with other liens still on the property, like second (or third) mortgages, back property taxes and Homeowners Association (HOA) dues unpaid by the former owner.



Under the law in nearly half of the states, when you buy a place at the foreclosure auction, the former owner has anywhere from six months to a year after the auction to "redeem" their rights to the property, meaning they have the legal right to buy it back from you.



If you're buying the property at an auction of REO properties (Real Estate Owned by the bank), make sure you read 100% of the terms and conditions of the auction. Many auctions will allow you to get a property inspection -- go figure -- so you should. They will also often allow you to use a mortgage to finance your purchase, which the courthouse foreclosure auctions do not.



However, most of these REO auctions do take a non-refundable cash deposit from the auction winner, and do add some sort of "buyer's premium" on top of the winning bid -- some as high as 5%. That extra cash can make it tougher to get positive cash flow out of the place.



Get clear on the fine print before you buy at any property auction.



Need-to-know No. 2: Your numbers. Many a wanna-be investor thinks, "Hey -- it's a $50,000 condo. If I get $1,000 in rent -- I'll be making cash hand-over-fist." And there ends their cash flow analysis. Seasoned investors know, though, that there are always more line items to the story. If you're thinking about investing in even the cheapest of cheap condos, you still need to create a written cash flow projection, or pro forma, to see how feasible it is that the investment will actually pay off.



If you plan to finance your investment with a mortgage, you must factor in the mortgage payment, mortgage insurance (if you put less than 20% down), and closing costs. And, even if you are able to buy a cheap condo with cash, you still need to take into account the costs of HOA dues, property taxes, landlord's insurance, any utilities landlords pay in your neck of the woods (like water and gas), a property manager and repairs.



You should also include an allowance for long-term maintenance, possible special assessments by the HOA and vacancies -- every landlord deals with occasional months where no rental payments come in. And you should definitely have a chat with your tax adviser about the deductions you should factor in, and the income tax you may incur on the rental income.



Then, offset that -- on paper -- by the average rents being received by other landlords in the complex or the area. If you're only making $3.75 per month in the projections, you might decide that other investments are more sensible.



Need-to-know No. 3: Whether the HOA and the complex are healthy. Sacramento, Calif., real estate agent Stacey Wilson thought she'd scored, big-time, when she invested in a two-bedroom, two-and-a-half bath condo for $40,000 in September of 2009, especially since the place had gone for $175,000 in 2007. After closing, though, it quickly dawned on Wilson that the complex and the HOA were both broke.



"Take a look around and see whether things are in working order," Wilson advises prospective condo investors. "When things are broken, find out how long they've been broken." Wilson's complex has two pools and a sauna, but "none of them works -- and they haven't worked in years."



Also, Wilson's unit is in an HOA riddled with a sky-high rate of delinquent dues, so it can't afford to repair the pools and sauna, nor does it have the cash to replace the wood shake roofs on all the buildings. "We only have a couple of years of roof life left, and now the hazard insurance company is threatening to drop our coverage, because they see the wood roof as a fire hazard," Wilson explains. "It's really important to read every page of the HOA disclosures you get during escrow, and make sure they're solvent. If the HOA is broke, it can create a domino effect of problems."



Need-to-know No. 4: The landlord-tenant laws and restrictions of your city or HOA. Many urban areas, in particular, have rent-control and eviction-control laws that limit your ability to raise the rent, or to evict a tenant without having a particularly strong reason for doing so -- sometimes even requiring landlords to pay tenants to move out.



And because the percentage of owner-occupied units impacts the ability of an HOA's members to resell and refinance their homes (many banks won't offer mortgages in complexes with fewer than 75% of the units being owner-occupied), many HOAs put a cap on how many units can be rented out. If you're planning to buy the condo as a rental property, it behooves you to know how feasible and how desirable it is to be a landlord in that complex and town before you buy.



Need-to-know No. 5: Where goes the neighborhood. Wilson's foray into dirt-cheap condo investing turned into a true adventure when circumstances led to her moving into the property she thought she'd never live in. Turned out, the nighttime goings-on in her new neighborhood were unlike anything she ever expected from her exclusively daytime experiences in the area. Before investing in a discount condo, Wilson advises, act like someone house hunting for their personal residence, and "go by the place at night and on the weekends. You'd be surprised at how different a place can be at night."



The fact that a condo is so inexpensive might actually be a signal that the neighborhood may not be one you want to spend much time in, even as a landlord. Wilson says, with 20/20 hindsight, "If it's really cheap, it's probably not in the best place."

robert shumake

Real Estate <b>News</b>: Existing Home Sales Rise - Developments - WSJ

Here is a look at real-estate news in today's WSJ.

<b>News</b> Anchor Barbie: &#39;A flair for journalism -- and power pink <b>...</b>

Astronaut Barbie, Newborn Baby Doctor Barbie and Rock Star Barbie, get ready to answer some tough questions asked by journalist Barbie. The 125th -- and newest -- career path for Mattel's 51-year-old doll is news anchor, and she's ...

Dallas Cowboys <b>News</b> &amp; Notes - Blogging The Boys

News & Notes about the Dallas Cowboys for Thursday, Sept. 23rd.

robert shumake

Real Estate <b>News</b>: Existing Home Sales Rise - Developments - WSJ

Here is a look at real-estate news in today's WSJ.

<b>News</b> Anchor Barbie: &#39;A flair for journalism -- and power pink <b>...</b>

Astronaut Barbie, Newborn Baby Doctor Barbie and Rock Star Barbie, get ready to answer some tough questions asked by journalist Barbie. The 125th -- and newest -- career path for Mattel's 51-year-old doll is news anchor, and she's ...

Dallas Cowboys <b>News</b> &amp; Notes - Blogging The Boys

News & Notes about the Dallas Cowboys for Thursday, Sept. 23rd.

Being Right or Making Money

-->

• 
  Hatch is also to blame for such idiocy as the DMCA (n/t)
  by Finrod
  




• 
  They don't understand
  by DerKrieger
  




• 
  Best thing could happen
  by RoguePolitics
  




• 
  Minor Problem with your "figures"
  by cmndr45
  




• 
  How would fracturing the Republican Party accomplish anything??
  by tacoslayer
  




• 
  I'm glad to see I'm not the only one disgusted with this.
  by avgjo
  




• 
  Please be respectful
  by Neil Stevens
  




• 
  Fairtax if need be but replace it with nothing would be better.
  by RoguePolitics
  




• 
  As Allahpundit wrote on Hotair
  by constitutionalconservative
  




• 
  Rino retards
  by justfedup
  




• 
  We've got to toss Hatch
  by Neil Stevens
  




• 
  I kind of have my heart set
  by ericc
  




• 
  And now that the text of CWA v2 has been released...
  by Dave_in_Fla
  




• 
  Ah yes -- the jet engine
  by aesthete
  




• 
  *shrug* Not like I have any influence, IJB
  by Dave_in_Fla
  




• 
  I hope Allen runs again
  by johnCV
  




• 
  Attend A Meeting With Him
  by saintgeorgegentile
  




• 
  A Hatch Bill That's Under The Radar
  by saintgeorgegentile
  




• 
  It's A Done Deal, Dave - Hatch Is Gone In 2012
  by IJB
  




• 
  Glad to know you have personal knowledge of the discussion
  by Dave_in_Fla
  




• 
  5 nt.
  by StandardCandle
  




• 
  Hatch is pure elitist scum.
  by Tbone
  




• 
  A correction
  by gregory1972hunt
  




• 
  Burr Should Resign The Caucus And Pledge To Run As an "Independent Republican" Over This
  by IJB
  




• 
  Had it been Hatch and not Bennet up for re-election...
  by StandardCandle
  




• 
  From Demon Sheep to Mourning in America
  by texasgalt
  




• 
  No Scope, I'm not saying that at all
  by Dave_in_Fla
  




• 
  The jet engine issue
  by Neil Stevens
  




• 
  deano64, look at this about HOW they did it in Utah
  by ColdWarrior
  




• 
  Gillibrand Has Never Cracked 50%...
  by IJB
  




• 
  Repeal 16th Amendment and propose Fairtax
  by gbenton
  




• 
  Well well
  by pamela1631
  




• 
  Yes, Scope the bad incumbents should be taken out in the primaries as we have done several times this year.
  by mikerazar
  




• 
  Cat. . . Yes, it says a lot about Cornyn
  by texasgalt
  




• 
  Wondering if
  by SKully
  




• 
  And glad you're donating to Miller, Leeatmg
  by constitutionalconservative
  




• 
  I really should have mentioned Ryan's plan
  by Dave_in_Fla
  




• 
  Mike, I think it might be a little difficult
  by chbroussard
  




• 
  This is an educational automatic weapon and needs to be open-carried.
  by Kenny Solomon
  




• 
  Did you even look at the numbers?
  by Death_of_the_Donkey
  

Last week, University of Chicago law professor Todd Henderson published a controversial post on Truth on the Market. Henderson revealed that he and his wife have a combined income of over $250,000, but argued that this doesn’t make them rich — certainly not rich enough to afford the new taxes Obama seeks to impose on married couples making $250K or more.

You can read the full post over at Brad DeLong’s blog, Grasping Reality with Both Hands. You cannot read the full post on Truth on the Market, because the post has been taken down. Henderson explains why:

The reason I took the very unusual step of deleting [the post and comments] is because my wife, who did not approve of my original post and disagrees vehemently with my opinion, did not consent to the publication of personal details about our family. In retrospect, it was a highly effective but incredibly stupid thing to do. The electronic lynch mob that has attacked and harassed me — you should see the emails sent to me personally! — has made my family feel threatened and insecure.

Well, Professor Henderson, I’ve got your back. We might fight to the death about the proper use of the government’s fiscal authority, but it should be beyond obvious that earning $250,000 a year in this country does not make you rich. That figure doesn’t even approach “wealth,” especially if you live in a major city.

I might have a little more experience with electronic lynch mobs then Professor Henderson, so bring it on if you must. But for all the moral outrage one can level at a person bitching about making “only” $250K, know that $250K per annum is much closer to the minimum starting point you need to bank in order to have a shot at “making it” in the expensive cities of America. Living the dream requires a whole hell of a lot more….

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If you are starving and I give you a mayonnaise sandwich, you’re going to be pretty happy. You’ll probably say that you’ve eaten well that day. Due to your poverty and malnutrition, your “American Dream” might well be to simply get to the point where you can have three mayonnaise sandwiches a day, and perhaps provide additional sandwiches to your spouse and children. Similarly, if you are earning $50,000 a year, the prospect of earning $250,000 a year probably seems like a panacea. Think about it: you’d be earning five times as much! I’ve yet to meet the person who wouldn’t love to quintuple his or her salary. From the perspective of a person making $50,000 a year or less (the subset could also be called “most Americans”), the person or family making $250,000 a year is rich.

Except he’s not. Sorry to burst your bubble, but “zero money down” is a bad idea, ultra-feminine lesbian sexbots don’t really exist, and $250K doesn’t allow you to live in financial comfort. Mo’ Money, Mo’ Problems.

In fact, most people who make $250K aren’t even sitting there thinking: “Ooh, if I bust my ass and play my cards right, being ‘rich’ is just around the corner for me and my family.” If, God forbid, $250K also represents all you have, being truly rich is probably not even an option for you. You can’t “invest” in anything with the piddling savings you’ve stowed away. You can’t “buy” anything, other then maybe a family home and a some consumer assets that will start to depreciate the minute you breathe on them. And what you’re not spending on your day-to-day expenses had best go to retirement, unless you want to be 80 years old and confusing your grandkids with stories about “Social Security” and other entitlement programs they have never heard of.

No, if you are making $250K a year, what gets you out of bed every morning isn’t even the desire to become rich. Instead, you’re motivated by the white-knuckle fear that something will go wrong and you’ll be cast back down with the sodomites who struggle valiantly to eke out an existence on $50K or less. You are certainly not rich, but you are terrified of becoming poor.

When Professor Henderson broke down his expenses, included in them were things that make a person sound rich. He’s got a gardener. He’s got a cleaning lady. FAT CAT ALERT! Anybody who can afford to buy himself out of manual labor must be rich, right?

But hold on to your pitchforks for just a minute. I don’t think anybody wants to live in a country where the purchase of a luxury good or service defines people as “rich.” If that was the world we wanted, there would be an awful lot of people walking here with flat-screen televisions and fine automobiles, who would also be defined as “rich.” I’m looking at you, legal secretary with a $60,000-a-year job who somehow finds an extra $5,000 to take a vacation to Bermuda during non-hurricane season. I’m looking at you, $57,000-a-year paralegal who makes me feel bad about my “sales rack at Macy’s” wardrobe. Americans spend money on all kinds of “luxury” crap that they have no business buying. You know what makes you rich? When you can actually afford all that junk.

And at $250K, you simply can’t afford it. Take me. My wife and I are just under the $250K potential tax threshold — thanks honey! your law degree does not make your ass look fat! — and if things break right for us, we’ll be over it next year (click on these ads, click on them now, you damn freeloaders). But if you think that affords me anything more than a paycheck-to-paycheck monthly scramble, you’re out of your freaking mind.

I own nothing (mmm… judgment proof) — not a stock, a bond — and the only market for my “assets” is the “Cash for Gold” shop in Atlantic City. I pay a ridiculous premium to live in my 2-1-2 area code, and I live in a hovel so embarrassing that when non-New Yorkers come to visit, they assume I’ve just been robbed. As we shuffle by Park Avenue apartments that I can’t afford to even look at, my dog tries to break her leash and get herself adopted by someone who can afford her upkeep. I’m a professional blogger, yet my computer is so old I can’t even download decent porn off the internet anymore. Last night I got a text from my Manhattan bedbugs which read, “Dude, we can’t live like this no more, peace out loser.”

And I don’t even have kids. And I didn’t even bring up my debts.

Could we rework our expenses to pay new taxes or generally save more money? Of course. We’re middle-class. That’s what middle-class people do: live as far above their means as possible until it becomes impossible. And then we play the lotto like everyone else. Rich people don’t play the lotto, and they don’t live above their means. They worry about whether or not they can afford another plane, not whether they can afford to fly coach.

And those people, the real rich people, those people should be taxed. Tax the living hell out of them, I say (I’m a liberal, it’s in the handbook). Henderson points out that the truly rich are avoiding taxes by hiding money in the Caymans or by using complicated financial instruments, and I say Obama should be going after that money. Stop being afraid of being labeled as “anti-business,” and go get the money from the people who can afford to pay it.

And if Obama does get that money, if he does what is hard and actually closes offshore tax loopholes and raises the capital gains tax and executes all the policies that embody true fiscal restraint and make Republicans cry in the night, and then he comes back to me and says, “Yeah, and we still need to raise taxes on those making more than $250K,” I’ll say fine. I’m willing to pay my share, albeit begrudgingly. I absolutely recognize that at $250K I’m doing a hell of a lot better than my buddy who makes $62K, lives with four random roommates, and once told me that if you add frozen peas to a cup of ramen it’s a more nutritious and filling dinner because the peas pack extra protein at a cost-effective price. Yeah Obama, tax me, not that guy. I get it.

But don’t call me rich. Don’t insult me by putting my family and Michael Bloomberg’s family in the same freaking talking point. If you want to blow that “quarter of a million dollars a year” soundbite up the ass of a laid-off steelworker in Pittsburgh, fine. But you know damn well that $250K does not make one rich in this country.

We are the Super Rich [Grasping Reality with Both Hands]/> Law Prof’s Deleted Post: I’m Not ‘Super Rich’ Enough for Higher Taxes [ABA Journal]/> I’m sorry [Truth on the Market]

The American Spectator : ABC <b>News</b>&#39; Credibility &#39;Lost in Translation&#39;

ABC News President David Westin is resigning and plans to leave the company before the end of the year, reportedly because of friction between him and executives at parent Walt Disney Company over the network's poor profits. ...

Cave Story DS on the way? DS <b>News</b> - Page 1 | Eurogamer.net

Read our DS news of Cave Story DS on the way?. ... Email news@eurogamer.net. Related Games. Cave Story WII. Latest Features. Cave Story Review . Cave Story Hands On . Latest News. Upcoming DSiWare/WiiWare titles listed ...

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robert shumake

The American Spectator : ABC <b>News</b>&#39; Credibility &#39;Lost in Translation&#39;

ABC News President David Westin is resigning and plans to leave the company before the end of the year, reportedly because of friction between him and executives at parent Walt Disney Company over the network's poor profits. ...

Cave Story DS on the way? DS <b>News</b> - Page 1 | Eurogamer.net

Read our DS news of Cave Story DS on the way?. ... Email news@eurogamer.net. Related Games. Cave Story WII. Latest Features. Cave Story Review . Cave Story Hands On . Latest News. Upcoming DSiWare/WiiWare titles listed ...

Chemical industry <b>news</b>

Previously you would have found the latest Chemical Industry News from our news server site. Acquisitions, mergers, share prices, new chemical industry trading…

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• 
  Hatch is also to blame for such idiocy as the DMCA (n/t)
  by Finrod
  




• 
  They don't understand
  by DerKrieger
  




• 
  Best thing could happen
  by RoguePolitics
  




• 
  Minor Problem with your "figures"
  by cmndr45
  




• 
  How would fracturing the Republican Party accomplish anything??
  by tacoslayer
  




• 
  I'm glad to see I'm not the only one disgusted with this.
  by avgjo
  




• 
  Please be respectful
  by Neil Stevens
  




• 
  Fairtax if need be but replace it with nothing would be better.
  by RoguePolitics
  




• 
  As Allahpundit wrote on Hotair
  by constitutionalconservative
  




• 
  Rino retards
  by justfedup
  




• 
  We've got to toss Hatch
  by Neil Stevens
  




• 
  I kind of have my heart set
  by ericc
  




• 
  And now that the text of CWA v2 has been released...
  by Dave_in_Fla
  




• 
  Ah yes -- the jet engine
  by aesthete
  




• 
  *shrug* Not like I have any influence, IJB
  by Dave_in_Fla
  




• 
  I hope Allen runs again
  by johnCV
  




• 
  Attend A Meeting With Him
  by saintgeorgegentile
  




• 
  A Hatch Bill That's Under The Radar
  by saintgeorgegentile
  




• 
  It's A Done Deal, Dave - Hatch Is Gone In 2012
  by IJB
  




• 
  Glad to know you have personal knowledge of the discussion
  by Dave_in_Fla
  




• 
  5 nt.
  by StandardCandle
  




• 
  Hatch is pure elitist scum.
  by Tbone
  




• 
  A correction
  by gregory1972hunt
  




• 
  Burr Should Resign The Caucus And Pledge To Run As an "Independent Republican" Over This
  by IJB
  




• 
  Had it been Hatch and not Bennet up for re-election...
  by StandardCandle
  




• 
  From Demon Sheep to Mourning in America
  by texasgalt
  




• 
  No Scope, I'm not saying that at all
  by Dave_in_Fla
  




• 
  The jet engine issue
  by Neil Stevens
  




• 
  deano64, look at this about HOW they did it in Utah
  by ColdWarrior
  




• 
  Gillibrand Has Never Cracked 50%...
  by IJB
  




• 
  Repeal 16th Amendment and propose Fairtax
  by gbenton
  




• 
  Well well
  by pamela1631
  




• 
  Yes, Scope the bad incumbents should be taken out in the primaries as we have done several times this year.
  by mikerazar
  




• 
  Cat. . . Yes, it says a lot about Cornyn
  by texasgalt
  




• 
  Wondering if
  by SKully
  




• 
  And glad you're donating to Miller, Leeatmg
  by constitutionalconservative
  




• 
  I really should have mentioned Ryan's plan
  by Dave_in_Fla
  




• 
  Mike, I think it might be a little difficult
  by chbroussard
  




• 
  This is an educational automatic weapon and needs to be open-carried.
  by Kenny Solomon
  




• 
  Did you even look at the numbers?
  by Death_of_the_Donkey
  

Last week, University of Chicago law professor Todd Henderson published a controversial post on Truth on the Market. Henderson revealed that he and his wife have a combined income of over $250,000, but argued that this doesn’t make them rich — certainly not rich enough to afford the new taxes Obama seeks to impose on married couples making $250K or more.

You can read the full post over at Brad DeLong’s blog, Grasping Reality with Both Hands. You cannot read the full post on Truth on the Market, because the post has been taken down. Henderson explains why:

The reason I took the very unusual step of deleting [the post and comments] is because my wife, who did not approve of my original post and disagrees vehemently with my opinion, did not consent to the publication of personal details about our family. In retrospect, it was a highly effective but incredibly stupid thing to do. The electronic lynch mob that has attacked and harassed me — you should see the emails sent to me personally! — has made my family feel threatened and insecure.

Well, Professor Henderson, I’ve got your back. We might fight to the death about the proper use of the government’s fiscal authority, but it should be beyond obvious that earning $250,000 a year in this country does not make you rich. That figure doesn’t even approach “wealth,” especially if you live in a major city.

I might have a little more experience with electronic lynch mobs then Professor Henderson, so bring it on if you must. But for all the moral outrage one can level at a person bitching about making “only” $250K, know that $250K per annum is much closer to the minimum starting point you need to bank in order to have a shot at “making it” in the expensive cities of America. Living the dream requires a whole hell of a lot more….

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If you are starving and I give you a mayonnaise sandwich, you’re going to be pretty happy. You’ll probably say that you’ve eaten well that day. Due to your poverty and malnutrition, your “American Dream” might well be to simply get to the point where you can have three mayonnaise sandwiches a day, and perhaps provide additional sandwiches to your spouse and children. Similarly, if you are earning $50,000 a year, the prospect of earning $250,000 a year probably seems like a panacea. Think about it: you’d be earning five times as much! I’ve yet to meet the person who wouldn’t love to quintuple his or her salary. From the perspective of a person making $50,000 a year or less (the subset could also be called “most Americans”), the person or family making $250,000 a year is rich.

Except he’s not. Sorry to burst your bubble, but “zero money down” is a bad idea, ultra-feminine lesbian sexbots don’t really exist, and $250K doesn’t allow you to live in financial comfort. Mo’ Money, Mo’ Problems.

In fact, most people who make $250K aren’t even sitting there thinking: “Ooh, if I bust my ass and play my cards right, being ‘rich’ is just around the corner for me and my family.” If, God forbid, $250K also represents all you have, being truly rich is probably not even an option for you. You can’t “invest” in anything with the piddling savings you’ve stowed away. You can’t “buy” anything, other then maybe a family home and a some consumer assets that will start to depreciate the minute you breathe on them. And what you’re not spending on your day-to-day expenses had best go to retirement, unless you want to be 80 years old and confusing your grandkids with stories about “Social Security” and other entitlement programs they have never heard of.

No, if you are making $250K a year, what gets you out of bed every morning isn’t even the desire to become rich. Instead, you’re motivated by the white-knuckle fear that something will go wrong and you’ll be cast back down with the sodomites who struggle valiantly to eke out an existence on $50K or less. You are certainly not rich, but you are terrified of becoming poor.

When Professor Henderson broke down his expenses, included in them were things that make a person sound rich. He’s got a gardener. He’s got a cleaning lady. FAT CAT ALERT! Anybody who can afford to buy himself out of manual labor must be rich, right?

But hold on to your pitchforks for just a minute. I don’t think anybody wants to live in a country where the purchase of a luxury good or service defines people as “rich.” If that was the world we wanted, there would be an awful lot of people walking here with flat-screen televisions and fine automobiles, who would also be defined as “rich.” I’m looking at you, legal secretary with a $60,000-a-year job who somehow finds an extra $5,000 to take a vacation to Bermuda during non-hurricane season. I’m looking at you, $57,000-a-year paralegal who makes me feel bad about my “sales rack at Macy’s” wardrobe. Americans spend money on all kinds of “luxury” crap that they have no business buying. You know what makes you rich? When you can actually afford all that junk.

And at $250K, you simply can’t afford it. Take me. My wife and I are just under the $250K potential tax threshold — thanks honey! your law degree does not make your ass look fat! — and if things break right for us, we’ll be over it next year (click on these ads, click on them now, you damn freeloaders). But if you think that affords me anything more than a paycheck-to-paycheck monthly scramble, you’re out of your freaking mind.

I own nothing (mmm… judgment proof) — not a stock, a bond — and the only market for my “assets” is the “Cash for Gold” shop in Atlantic City. I pay a ridiculous premium to live in my 2-1-2 area code, and I live in a hovel so embarrassing that when non-New Yorkers come to visit, they assume I’ve just been robbed. As we shuffle by Park Avenue apartments that I can’t afford to even look at, my dog tries to break her leash and get herself adopted by someone who can afford her upkeep. I’m a professional blogger, yet my computer is so old I can’t even download decent porn off the internet anymore. Last night I got a text from my Manhattan bedbugs which read, “Dude, we can’t live like this no more, peace out loser.”

And I don’t even have kids. And I didn’t even bring up my debts.

Could we rework our expenses to pay new taxes or generally save more money? Of course. We’re middle-class. That’s what middle-class people do: live as far above their means as possible until it becomes impossible. And then we play the lotto like everyone else. Rich people don’t play the lotto, and they don’t live above their means. They worry about whether or not they can afford another plane, not whether they can afford to fly coach.

And those people, the real rich people, those people should be taxed. Tax the living hell out of them, I say (I’m a liberal, it’s in the handbook). Henderson points out that the truly rich are avoiding taxes by hiding money in the Caymans or by using complicated financial instruments, and I say Obama should be going after that money. Stop being afraid of being labeled as “anti-business,” and go get the money from the people who can afford to pay it.

And if Obama does get that money, if he does what is hard and actually closes offshore tax loopholes and raises the capital gains tax and executes all the policies that embody true fiscal restraint and make Republicans cry in the night, and then he comes back to me and says, “Yeah, and we still need to raise taxes on those making more than $250K,” I’ll say fine. I’m willing to pay my share, albeit begrudgingly. I absolutely recognize that at $250K I’m doing a hell of a lot better than my buddy who makes $62K, lives with four random roommates, and once told me that if you add frozen peas to a cup of ramen it’s a more nutritious and filling dinner because the peas pack extra protein at a cost-effective price. Yeah Obama, tax me, not that guy. I get it.

But don’t call me rich. Don’t insult me by putting my family and Michael Bloomberg’s family in the same freaking talking point. If you want to blow that “quarter of a million dollars a year” soundbite up the ass of a laid-off steelworker in Pittsburgh, fine. But you know damn well that $250K does not make one rich in this country.

We are the Super Rich [Grasping Reality with Both Hands]/> Law Prof’s Deleted Post: I’m Not ‘Super Rich’ Enough for Higher Taxes [ABA Journal]/> I’m sorry [Truth on the Market]

robert shumake

The American Spectator : ABC <b>News</b>&#39; Credibility &#39;Lost in Translation&#39;

ABC News President David Westin is resigning and plans to leave the company before the end of the year, reportedly because of friction between him and executives at parent Walt Disney Company over the network's poor profits. ...

Cave Story DS on the way? DS <b>News</b> - Page 1 | Eurogamer.net

Read our DS news of Cave Story DS on the way?. ... Email news@eurogamer.net. Related Games. Cave Story WII. Latest Features. Cave Story Review . Cave Story Hands On . Latest News. Upcoming DSiWare/WiiWare titles listed ...

Chemical industry <b>news</b>

Previously you would have found the latest Chemical Industry News from our news server site. Acquisitions, mergers, share prices, new chemical industry trading…

robert shumake

The American Spectator : ABC <b>News</b>&#39; Credibility &#39;Lost in Translation&#39;

ABC News President David Westin is resigning and plans to leave the company before the end of the year, reportedly because of friction between him and executives at parent Walt Disney Company over the network's poor profits. ...

Cave Story DS on the way? DS <b>News</b> - Page 1 | Eurogamer.net

Read our DS news of Cave Story DS on the way?. ... Email news@eurogamer.net. Related Games. Cave Story WII. Latest Features. Cave Story Review . Cave Story Hands On . Latest News. Upcoming DSiWare/WiiWare titles listed ...

Chemical industry <b>news</b>

Previously you would have found the latest Chemical Industry News from our news server site. Acquisitions, mergers, share prices, new chemical industry trading…