Tag Archives: cost

It’s an Especially Good Year to Be a Wealthy High School Senior

How the Credit Crisis Will Make it Easier for Rich Kids to Get Into Their College of Choice

You may have heard that a male student interested in the humanities has a better chance of being accepted to a prestigious liberal arts college than a comparably qualified female candidate. How about the tale of the gifted athlete with sub-par grades who gets a full-ride to “State” on a football scholarship; everyone tells that story. Have you heard the one about the rich kid from the Upper West Side who gets in because his family is wealthy? This isn’t the kid whose family’s name is plastered all over the football stadium, dining hall, and library; he’s just your everyday, average, wealthy student who doesn’t need financial aid. The sad reality is that all but a select few of this country’s institutions of higher education take a student’s ability to pay into consideration when making an admissions decision.The economic realities of college admissions run deeper and darker than most people know.

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Filed under Economics, Finance, Politics, Uncategorized

McCain’s Economic Stimulus Plan – Give Millionaires a $75,000 Tax Break

In the wake of the current financial markets meltdown – and the meltdown of his own campaign – John McCain unveiled a set of initiatives aimed at stimulating the economy. The centerpiece of McCain’s proposal is a reduction of the capital gains and dividend tax rate from 15% to 7.5%.

McCain’s chief economic adviser, Douglas Holtz-Eakin described the proposal as being:

“targeted at people who have been hurt by the recent financial crisis — seniors, savers, workers, people who are trying to get to college.”

The Tax Policy Center fired up their computers to crunch some numbers on the McCain dividend and capital gains tax cut. The results are summarized below:

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Filed under Economics, election, Politics, Tax Policy

Cost of War in Iraq and Afghanistan

Iraq FY08 – $149.2 Billion ($12.43B/month)

Afghanistan FY08 – $32.8 Billion ($2.73B/month)

Total FY08 – $180 Billion

Total since 9/11: $859 Billion

(Click on chart for larger view)

For Full Report: Congressional Research Service, “The Cost of Iraq, Afghanistan, and Global War on Terror Operations since 9/11.”

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Filed under afghanistan, Economics, election, foreign policy, Iraq, Politics, Tax Policy, Uncategorized, war