6 Outrageous Billionaire Purchases

It's easy to make fun of the uber-rich. Partially because we're a wee bit jealous (oh, what we could do with just 5% of their yearly income) but, often, because they just make it ever so easy. When the billionaires of the world are out dropping huge amounts of money on things like a racing pigeon, we really do think we could handle the money better than they do. (Reducing the amount you spend is the easiest way to make your money grow. Check out 5 Money-Saving Shopping Tips.)


1. The $200,000 PigeonPigeon racing may not be on your list of the top ten rising sports, but in Asia it's kind of a big thing. And while most of the fans and participants aren't of the billionaire class, a few are. Consider one Chinese buyer who paid $200,000 for a single racing pigeon; a highly pedigreed pigeon, of course, but the non-billionaires among us can't forget we're talking about a pigeon.
2. The $11M WatchTime is money, we're told. And maybe if we had the billions of dollars that these purchasers do, we'd understand how important it is to keep track of time with a really, really expensive watch. This watch was designed and built by Patek Philipe, and took eight years to complete. In 1999, a wealthy and apparently time-conscious purchaser paid $100 million for it. Worth it? Only time will tell...
3. The $1B HomeThat's B as in Billion; for India's richest man, purchasing the world's "most expensive home" cost him $1 billion dollars. Apparently he thought it was worth the investment, with 9 elevators, a 50-seat theater, a two-story recreation center, and not one, not two, but three helipads on the roof. You know, for those times when you really need to be able to have three helicopters landing simultaneously. (Don't let buying a home bust your budget. Make sure the house you choose is worth the price you pay. See 10 Tips For Getting A Fair Price On A Home.)
4. The $18M CarCars - fancy, fast, expensive cars - have long been a luxury of the rich, and one of the items most of us can relate to spending a large sum of money to own - at least a little. Some people don't kid around about the "large sum" part of the equation, as in the 2010 purchase of a Ferrari 250 GTO from the 1960s by British radio host Chris Evans. Evans reportedly paid 12 million pounds for the car, which equals about $19 million dollars.
5. The $6M Divorce SettlementOf course, not everything the rich spend money on is pleasure spending. They have to pay taxes, bills, and, oh yes, divorce settlements. In the case of the 2005 divorce of billionaire Charles Brandes and Linda Brandes, the original settlement came to around $150,000 per month. That wasn't quite enough for Ms. Brandes. Mr. Brandes, apparently, concurred and increased the pay-out to $6 million per year, or $500,000 per month.
6. The $390,000 RewardNo matter the income level, there's probably not a parent alive who can claim (truthfully) to never have bribed or rewarded a child to get good behavior. But in the case of the very rich, the rewards come in numbers that are mind-boggling. Consider the recent purchase of a limousine by Sean "Diddy" Combs. This particular limousine cost $390,000 and was a reward for Combs' 17-year-old son Justin, who made the honor roll. Certainly education is important, but at this rate, getting Justin to earn those A's all through college could become quite costly. 
IN PICTURES: 5 Self-Made Female Billionaires
The Bottom LineOf course, excessive purchases tend to make the news. There are many billionaires who have earned their money through financial smarts and continue to make purchases that, at least on some level, make sense. For the rest of us, at least we get free entertainment from the not-so-frugal billionaires. (Don't assume all prizes are free. Many come with enough costs to render them worthless. Check out Winning The Jackpot: Dream Or Financial Nightmare?)

 

 

Alternative Ways To Hold Your Net Worth

Although the economy is showing encouraging signs of recovery, it has left disaster in its wake. From the professionals to the everyday investor, everybody lost money during the recent recession and many are still far from restoring their net worth.

Looking back at the past few years, most are now looking forward and asking themselves what they should do with their investments in the future. For those who have saved a substantial amount, they don't want their net worth wiped out by the next financial crisis that could occur within the next few decades. (Without this risk-reduction technique, your chance of loss will be unnecessarily high. See The Importance Of Diversification.)


DiversificationDiversification is one of the most important rules of a safe portfolio. Stock investors often use diversification to mean investing in different stock sectors. A diversified stock portfolio may have a healthcare, oil, technology and industrial stock. Diversification can also mean investing in stocks, bonds, cash, CDs and real estate.
Not all aspects of your portfolio are diversifiable, though. Market or systemic reactions like the stock market tumble of recent years affected all asset classes.

CashIs cash a good way to preserve net worth? Even with interest rates at a historic low and inflation nearly non-existent, staying in cash is still netting a small gain but that's not why investors like cash.
Cash and cash equivalents (checking, savings, short-term CDs and treasury bills to name a few) are in the portfolios of nearly every professional investor. In fact, it is estimated that 5% to 10% of an investor's portfolio is left in cash.  They keep cash on hand in order to have funds available to finance a seemingly "can't-lose" investment opportunity but you may want it for a different reason.
The value of the dollar may fluctuate but keeping cash in your account instead of investing it is not only safe from investment market crashes, but the FDIC insures your cash up to $250,000. Cash isn't going to earn much as an investment but it is safe, and safety should be a part of any portfolio.

GoldNot just gold but silver, copper and other precious metals have become an investment of choice for those wanting to preserve wealth. Gold and silver have seen a huge run up in recent years. In fact, if you had invested in gold five years ago and held on to it until the present day, you have seen a 23% annualized return. This is largely because of the perceived safety of the metals while also giving the investor a large scale gain.
Paper money, regardless of which country it comes from, is representative of something. The paper it's printed on holds no true value, which is why paper currency has a long of history of going extinct but gold does not. Gold has held value for thousands of years and as monetary concerns heat up around the world, gold may only be at the beginning of its run up in value. Beware, though: if gold is experiencing a false "bubble" like the tech bubble of the '90s, it could see a dramatic depression in value. Gold has been used by investors for years to preserve net worth.

Foreign BondsSeeing the amount of debt that the United States currently has, it may be tempting to invest in foreign bonds, but be careful. Foreign bonds come with not only the risk of default but also currency risk, and with the U.S. dollar being affected by a variety of different factors including QE2 and interest rates, foreign bonds may not be the best way to diversify your portfolio in order to protect your assets.
In addition, with countries like Greece and Ireland having serious financial problems as of late, The United States and all of its debt still seem more attractive than many foreign bonds. (Historically, international investing has worked out well for investors, but this may no longer be the case. Check out Does International Investing Really Offer Diversification?)

The Stock MarketThe stock market may be the world's scapegoat when something goes wrong in the economy, but it still has a consistent history of success. For an investor who invests in a stock with a track record of safety and a reasonable dividend, the stock market can produce gains of 6% in dividends alone. By setting automatic stop- loss sell orders to trigger when a stock falls below a certain amount, the investor can hold on to their net worth and feel safe in the stock market.

Real EstateBargain hunters are seeing the depressed real estate market and thinking of buying up foreclosed homes for rock bottom prices, but should you do this as a way to further diversify? Over the past 10 years, home prices have seen an average annualized return of only 2.2%, lower than the average rate of inflation - and remember that most homeowners are paying an average of 5% in interest to own the home. Then there's care and maintenance.
With the housing market flirting with another recession of its own, it's hard to see real estate as a good way to preserve wealth over time. In a few years, that may change, but for now, buying an asset that very few want is probably not a good idea.

The Bottom LineThe best way to preserve wealth is the same tried and true methods. Invest in stocks and bonds while keeping some money in cash accounts. This allows for diversification of your portfolio which has saving many for devastation. (This investing strategy retains its charm as a protection against random events in the market. See Diversification: Protecting Portfolios From Mass Destruction.)
For the latest financial news, check out Water Cooler Finance: Anti-Government Protesters Rock Egypt.

Gsg Forex Club

Gsg Forex Club

 A new vision to invest money

GSGforexClub is a small group of investors and traders who has a common passion. Foreign exchange market. We decided to create an informal Club to share our passion and profits with other investors. As many Club we set up some rules which have to be accepted before join

RULES

Registration:

• The future member must accept the rules and fill all the required fields. Once the registration complete the new member must wait the confirmation from the support to login.
• Only one account is allowed for each member.
• The Club reserves the right to deny a registration without any specifications.

Investment:

• Minimum: 250usd and then by multiples of 250usd: 250, 500, 750, 1000…..
• Funds have to be deposited for 4 weeks starting from the first business day of the next week (we accept deposits until Saturdays 11,00 am GMT). The first business day is the Monday of the week following the deposit on GSGforexclub Liberty Reserve account. If this day is a holiday the first business day will be Tuesday.
• The principal will be paid back after 4 weeks with the last interests earned, if not differently asked.
• The member must inform the Club about his intention to reinvest the interests. Without notification interests will be automatically paid every 2 weeks.
• A penalty of 10% will be applied in case of disinvestment before the planned date.
• All fees concerning the transfer to invest and to withdraw are in charge of the member.
• Before adding funds the member must advise the support of his intention to do it and, after agreement, the member will proceed as a first investment.

Notice: At the moment, the period of investment is limited to 4 weeks. In a near future, to simplify the work of accounting and payment done manually, this period will be extended to 8 weeks, then 3 months. These changes will be limited to the investors concerned at the date of their new investment. Every change will be notified on the website.

Profits:

• Profits are calculated and every 2 weeks through Liberty Reserve. All payments are done manually till every Monday.
• Profits are available to reinvest. See compound.
• Rates:
• Plan A: From 250 to 750 weekly about 1.8% variable.
• Plan B: From 1.000 to 2.250 weekly about 2% variable.
• Plan C: From 2.500 to 4.750 weekly about 2.2% variable.

Important Notice:
To preserve funds invested and to keep a low level of risk, these are average rates and they can be modified accordingly to the results.

Compound, transfer between members:

• Compound is available on request. The member must advise the Club when deposit. In case of compound the interests will be paid at the end of the 4 weeks with the principal.
• Transfer between members is not allowed.

Referrals:
Any member with active investment is free to refer the Club to another person interested by. The introducer will receive 2% each member referred with an active investment. Commissions are paid manually via Liberty Reserve. Self referral is not allowed.

www.gsgforexclub.com

 

The Pros And Cons Of A Strong Loonie

 Last year was a strong one for the Canadian dollar (loonie). After a 16% gain against the U.S. dollar (USD) in 2009, it added another 5.5% last year. This is the strongest it's been since 2008, and that strength is directly tied to rising prices for crude oil and commodities. Canada's vast supplies of natural resources provide solid support for the currency as prices for commodities have risen across the board in the past year. Also, the United States imports more oil from Canada than any other country. (For more, see Canada's Commodity Currency: Oil And The Loonie.)

On December 31, 2010, the loonie closed at 99.8 cents to the USD, the first time it's finished a year above parity since 2007. Additional support for the currency came in November when Russia began purchasing the loonie to diversify its foreign exchange reserves. The loonie gained against seven other major currencies during the past year. It performed best against the Danish krone (+13%) and worst against the Japanese yen (-8%), according to Bloomberg.
IN PICTURES: Break Into Forex In 12 Steps
HistoryAfter the loonie was floated against world currencies in 1970, it became a benchmark and global reserve currency. There has always been a close relationship between the movements of the loonie and USD, and the relative economic conditions in both countries. The link between the tandem has decoupled over the past 10 years, primarily as a result of the rise in oil and other commodity prices.
The importance of the relative strength of the two currencies can't be overstated since the countries are major trading partners. Over three-quarters of all Canadian exports go directly south of its border, and over half of Canada's imports come from the United States.
Buying PowerFor Canadians, the higher loonie is a drag on exports because they appear more expensive to importing countries. If demand for gasoline in the United States was highly elastic, this would hurt Canadian crude exports. The reality is that, at current prices, gasoline demand is relatively inelastic so the rise in the loonie has not negatively impacted Canada's oil exports. Data from the U.S. Energy Information Administration shows that imports of oil from Canada averaged 1,919,000 barrels per day during the first 10 months of 2009. In comparison, an of average 1,962,000 barrels per day were imported during the first 10 months of 2010.
Canadian companies that import raw materials, machinery and other American products benefit from the stronger loonie. Retailers that specialize in American imports have the option of lowering prices and increasing sales volume, or maintaining prices and increasing margins. The reverse is true for American importers since they pay more for Canadian products.
The stronger loonie is good news for American exporters who have struggled through the recession of the past few years. Their products appear cheaper to Canadian companies and consumers, helping their bottom lines. American exporters also have the option of reducing their prices with the goal of increasing sales revenues through higher export volume. (To learn more, check out our Economics Basics Tutorial.) 
IN PICTURES: 5 Investing Statements That Make You Sound Stupid
Doing BusinessCanadian businesses that want to expand into the United States now get more bang for their investment buck. The stronger loonie provides them with more purchasing power for potential acquisitions. It also helps Canadian companies that do business in Canadian dollars but pay salaries in USD, such as Canadian sports franchises that operate across the border (think professional hockey teams).
Going ForwardBased on a Bloomberg survey of 29 economists, the loonie is expected to trade between parity with the USD and C$1.01 for the rest of this year. Much depends on the state of the U.S. economy, which has been battered by the implosion of a housing bubble and rising government debt. The monetary policies of the Federal Reserve are widely viewed as being inflationary, which could put further downward pressure on the USD. While the Fed could raise interest rates to fight that trend, this could stall or derail an already weak economic recovery which would likely spill over into Canada.
The Bottom LineThe key fundamentals that have strengthened the loonie are investor risk tolerance, a stable and growing Canadian economy, a good fiscal balance sheet, higher commodity prices and a search for investment currencies that will hold value in the future. (To learn more, see Why Things Are Getting A Little Loonie.)

The World's Most Powerful Bankers

During the Goldman Sachs trial, Lloyd Blankfein, Goldman Sachs' CEO, became arguably the most well-known banker in the world. Prior to this SEC hearing, most people probably didn't know who was running the most powerful banks in the world - if they gave it any thought at all. Blankfein became the face of the subprime crisis' after-effects, whether he deserved to or not. In the large scheme of things, though Goldman Sachs is one of the largest banks in the U.S., there are still bigger banks stateside and much bigger banks worldwide. We'll take a look at these huge banks and the powerful bankers that run them. (To learn more, see Goldman Sachs: By The Numbers.) 
IN PICTURES: Top 7 Biggest Bank Failures
The Public Face
Goldman Sachs is far from the largest bank in the world, but it is considered by many to be the preeminent investment bank in global finance. Lloyd Blankfein is currently the CEO and chairman of the board for Goldman Sachs and has been since 2006. Despite some people's opinion of Blankfein's maneuvers during the financial crisis of 2007 to 2009, the Financial Times named him “person of the year” for 2009. Blankfein received a $9 million (all-stock) bonus from Goldman in 2009, but he grew up in Brooklyn housing projects before making his way to Harvard, where he earned his B.A. and J.D. Blankfein's been working for Goldman since 1981, and he may be most known, aside from the SEC trial, as the banker who claimed he was doing "God's work."
Europe's Biggest Banks and Bankers
The largest global bank in the world is France-based BNP Paribas, which was named largest bank this year by Bloomberg, with assets of $3.2 trillion. This bank was formed through a merger of two of France's biggest banks, Banque Nationale de Paris and Paribas, in 2000. The CEO of this megabank is Baudouin Prot. Prot graduated from the Ecole des Hautes Etudes Commerciales (HEC) and Ecole Nationale d'Administration, and he took a number of positions with the French government before joining BNP in 1983. Prot became CEO of the world's largest bank in 2003. BNP Paribas is different from its large North American counterparts as it emerged from the financial crisis relatively unharmed when compared to their counterparts, and Prot's strategy for the company is seen as one of the reasons that the bank did so well.
Another of the world's largest banks is Munich, Germany's Deutsche Bank, which had assets in excess of 1.5 trillion euros in 2009. Deutsche Bank was founded in 1870 and today is listed on both the Frankfurt and New York Stock Exchanges. The CEO of this German behemoth is Josef Ackermann. Ackermann is originally from Switzerland and has been CEO of Deutsche Bank since 2006. He has also worked at Credit Suisse and served as a guest professor at the London School of Economics. Businessweek reports that Ackermann received compensation of nearly 10 million euros in 2009 at Deutsche Bank.
IN PICTURES: World's Greatest Investors
The U.S.'s Big PlayersTurning back to North America, we'll look at one of the most powerful bankers in the U.S. Jamie Dimon is the CEO of JPMorgan Chase, the largest bank in the U.S. by market capitalization. JPMorgan Chase has assets in excess of $2 trillion, and Dimon has been the CEO since 2004. Dimon got his undergrad in psychology and economics from Tufts University before getting his MBA from Harvard in 1982. Before becoming the CEO of JPMorgan chase, Dimon was one of the people responsible for forming Citigroup, and he was head of Bank One before it was bought by JPMorgan. Dimon and JPMorgan Chase were criticized during the TARP payments of 2008, as many questioned if JPMorgan really needed to be bailed out, but still accepted the TARP bailout, which it later paid back.
The largest bank in the U.S. by assets is Bank of America, with Brian Moynihan as its CEO. Moynihan graduated from Brown in 1981, and then received his Juris Doctorate (JD) from Notre Dame. Moynihan joined Fleet Boston in 1993, and Fleet Boston merged with Bank of America in 2004. Moynihan served in various positions at BofA before becoming CEO in 2009.
Dimon may have helped form Citigroup, but it is going on fine without him at this point, being helmed by Vikram Pandit since 2007. Pandit was born in India but moved to the U.S. when he was 16, doing his schooling there before becoming a professor at Indiana University and eventually joining Morgan Stanley in 1983. He became CEO of Citigroup in 2007, shortly before Citigroup felt the brunt of the subprime crisis and had to receive a large bailout from the U.S. government in 2008. Citigroup has assets of nearly $2 trillion and is one of the Big Four Banks in the U.S, along with Bank of America, JP Morgan Chase and Wells Fargo. (For more, see Banking Has Changed: What Does It Mean For Consumers?)
The Bottom Line
Along with Wells Fargo and its CEO, John Stumpf, these are the biggest banks and CEOs in the U.S., and some of the biggest banks and CEOs in the world. The men mentioned above usually keep a low profile, but they are partially in control of unbelievable assets and hundreds of thousands of staff.
Find out what happened in financial news this week. Read Water Cooler Finance: Steady Stocks, Big G's And Madoff News.

Top Mobile Banking Dangers And How To Avoid Them

You are about to board a plane when you suddenly realize that you have a measly $5 in your account for your trip. That's when you pull out your smartphone and, in a matter of seconds, magically deposit the needed cash into your checking account. From big national chains to smaller regional outposts, banks have improved the functionality of mobile banking so that consumers can transfer funds, pay bills or check balances whenever and wherever they may be. However, before making mobile banking part of their routine, consumers should know that this convenience comes with one hiccup - a lapse in security. Here we look at a few mobile banking pitfalls and steps you can take to prevent becoming a victim of mobile scams. (For more, see Mobile Money: Using Your Cell Phone To Transfer Funds.) 
IN PICTURES: Top 6 Mindless Money Wasters
1. InterceptionsText messages are not encrypted (a method of securing data in transit), which means using a text message to receive updates or communicate with your bank is more susceptible to interception. And experts say that in the event a phone is stolen, sophisticated hackers could retrieve text messages, even if you have deleted individual messages. A good way around this threat is to refrain from corresponding via text when the information being transmitted could be potentially detrimental to your financial security if it falls into the wrong hands.
2. Unauthorized  AccessBecause mobile platforms aren't equipped with the same security layers as websites or ATMs, they are more vulnerable to fraudsters, who repeatedly change their identities and gain access through a series of quick attempts. Fortunately, users can take extra steps to increase their protection, such as adding additional passwords and encryption barriers that aren't provided by your bank. For example, you should set up the password-protect option on your phone and when it's not in use, lock it. Where available, another idea is to install security software on your mobile phone.

IN PICTURES: 8 Financial Tips For Young Adults

3. Password TheftOnce someone has discovered your banking password and hacked into your account, there isn't much you can do. But in advance, you can protect yourself from this debacle by installing remote-wipe options, a way to erase the information on your phone without physically having it in your possession. You can activate this if our phone goes missing. Select banks offer remote-wiping as a free, downloadable application. Similarly, the MobileMe service allows Blackberry and iPhones users to buy this feature. (To learn more, check out 5 Money Transfer Technologies And Their Risks.)
4. Fraudulent AppsWhile applications, or "apps", are what allow you to check your account balance or move money to another account from your cell phone, they also are an added risk for your mobile security. Some have called fraudulent apps the next generation of phishing scams; if you download a fraudulent application, it could be used lift account and other sensitive information from your mobile device. For example, last January, Google removed 50 applications available for the Android phone due to concerns they may be virulent. To protect your mobile security from an application scheme, don't click on pop-ups that advertise apps. You can also check with your bank about the validity of any financial app you are considering, or if possible, download the application directly from your financial institution's website. (Learn more in 5 New Phishing Scams To Watch Out For.)
5. Dropped CallsMobile phones are small, compact and portable, but the downside is that they are easily lost or stolen. A criminal who hacks into your cell phone can retrieve personal information, account passwords and proprietary texts. In the event that your phone is stolen, you should also call your bank; this way, the bank can closely monitor your account.
One Last Tip Remember, the best defense is to be your own activist; always keep track of your bank account and watch for atypical or suspicious activity. Setting up automatic electronic alerts from your bank may also help you stay on top of monitoring your fiscal situation. (For more tips, check out our Banking Tutorial: Safeguarding Your Accounts.)

 

The Unseen Taxes That You Pay Every Day

The old joke says that nothing is certain in life but death and taxes, and medical science has done a lot to forestall the former. Although nobody enjoys paying taxes, most people probably do not realize how they permeate our daily lives. Simply put, one way or another, we pay taxes on almost anything and everything we do.
To illustrate how the tax burden can be spread around, consider the "tax trail" on a few common daily items (For help with filing your taxes, check out 6 Sources For Free Tax Help.)
GasolineThe taxes on a gallon of gas start as soon as the oil comes out of the well. Although negotiated contracts, sweetheart deals, kickbacks and cross-cutting legislative actions can dramatically muddy the waters when it comes to assessing an "average" royalty in many countries, the fact is that companies like Exxon Mobil (NYSE:XOM) and BP (NYSE:BP) owe the landowner and/or the state money whenever they remove oil and natural gas. In the United States for instance, companies pay a royalty of 12.5% on oil taken from onshore Federal lands, and that is an addition to so-called "bonus bids" that are paid upfront.
IN PICTURES: 9 Ways To Use A Tax Refund
If that oil travels through a pipeline to reach a refinery (and much of it does), there's more taxation there - states and municipalities will charge property tax on the pipelines, and some also charge tax based on the volume of oil or gas sent through the pipeline. What's more, pipeline tariffs are often restricted by law, which is in effect a tax as well.
Once the oil gets to the refinery, there's still more taxation that figures into the final pump price. Although excise tax is collected at different times and at different levels, the federal tax on gasoline amounts to a little over $0.18 per gallon, with states tacking on more tax (ranging from $0.07 to $0.30 per gallon depending upon the state). Don't forget, too, that many states tack on their regular sales tax every time you buy gasoline.
As the infomercials say, "but wait, there's more!" From the wellhead to the filling station, employers have to pay taxes on their employees' wages, property taxes on facilities, corporate income taxes and other incidental taxes like vehicle registration. While some of this does not necessarily pass on to the consumer (many economists have demonstrated the employees pay for their employer's taxes in the form of lower wages), most of it does. (For everything you need to know about the different types of tariffs and their effects on the local economy, see The Basics Of Tariffs And Trade Barriers.)

TobaccoThe tax trail for tobacco is similar in some respects to that of gasoline. Like gasoline, governments at all levels see tobacco as a honeypot for guilt-free taxation. As a result, the federal government charges an excise tax of $1.01 for each pack, while state taxes range from $0.17 (in Missouri) to $4.35 (in New York). Additionally there can be city taxes, which sits at $1.50 per pack in New York City. Along the way, of course, are the regular taxes that go into business - taxes on employee wages, taxes on property, taxes on income, taxes on diesel fuel and vehicles, and so on.
What makes the case of tobacco a little bizarre, though, is that money flows in two directions. The government as a subsidy program in place for tobacco farmers, a subsidy that paid over $200 million to farmers in 2009. That money, then, represents a tax on all citizens to pay farmers to grow a product that is then heavily taxed at federal, state and sometimes municipal levels. (Read more in Paying Uncle Sam: From Tobacco To $1 Trillion.)
BreadWay back in 1975, Ronald Reagan commented that there were 151 taxes that went into the price of a loaf of bread, and that those taxes made up more than half of the cost. While much has changed since then, and I could not independently confirm all of the taxes that currently go into a loaf of bread, that quote is still true in spirit if not in detail.
Farmers may be eligible for subsidies, but they pay property taxes and income taxes. The trucker who takes the grain to market pays taxes for his license, his rig and his fuel. The grain elevator has property, employment, income and sales taxes. The miller, the bakery, the store and every other link in the chain has its own taxes as well, whether they are assessed on property, sales, income, wages, fuel or what have you.
IN PICTURES: 10 Ways To Cut Your Food Costs
The Bottom LineOf course, it is juvenile to ignore the fact that taxes are necessary and governments need funds to pay for a wide variety of goods and services that typically cannot be fulfilled by private operators. However, many people do not realize just how much they pay in total taxes and how ubiquitous those taxes are. Income tax is tough to ignore every April and anybody who has paid a hotel or cable bill lately has seen how taxes inflate their total bill. But how often do people consider how much of the price of a gallon of gasoline goes into government hands, or how many taxable "steps" there are in getting from a wheat field to the bread aisle of Wal-Mart (NYSE:WMT)? Taxes certainly are unavoidable in a modern economy, and they are in fact almost anywhere or everywhere you care to look.
For the latest financial news, check out Water Cooler Finance: You're Never Too Old To Work.