SS will increase 2.3% for 2008
Wage base for taxability will increase 4.6% for 2008 (6.2% on first $102,000 now)
CPI supposedly at 2.1% (Oct'06-Sept'07). Really?
We all know that items such as housing, autos, and certain high-tech items such as flat screen TVs and computers are falling in price.
But how many houses, autos, or flat screen TVs does the average consumer buy in a year? Very few, right?
What most people miss, however, is that housing and autos added together represent just under two-thirds of the total CPI number!
Oh...don't forget, that taxes are NOT included in the CPI numbers. So property taxes (in Northern VA have averaged 6-7% increase annually over the past 10 years), increased sales taxes and park fees, etc. are not included.
An Introduction
Hi. Welcome to BourGroup and my blog. Phil
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.