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American Millionaires: 1,400 Paid No U.S. Income Taxes In 2009

New tax data from the Internal Revenue service shows that in 2009, incomes fell, unemployment claims rose, and the U.S. economy shed nearly two million taxpayers. And of the 235,413 taxpayers who earned $1 million or more in 2009, 1,470 of them paid no taxes. According to the data, the average income for American taxpayers fell to $54,283 — a drop of $3,516, or about 6.1 percent, between 2008 and 2009. Not only that, but the overall number of taxpayers — that is, individuals or married couples filing with the IRS — fell by almost two million. “What you’re seeing is the devastation of the massive loss of jobs and the effects of the real recession on real Americans,” said Ed Kleinbard, a law professor at the University of Southern California. The numbers, part of a package analyzing 2009 tax returns that the IRS has just made available, reflect a grim picture of the recent past. Tax returns filed in 2009 largely speak to the state of the economy in 2008 — a time when unemployment ballooned, markets dropped precipitously and the economy languished in recession. The IRS’s data is unlikely to surprise any of the millions of Americans who were out of work in 2008 and 2009. The unemployment rate climbed from 5 percent in April ’08 to a 25-year high in February ’09, and continued to rise for several months, topping double digits that fall with a rate of 10.2 percent. The IRS report shows that unemployment claims rose by nearly 2 million, or about 19 percent, between 2008 and 2009. The amount of unemployment benefits paid in 2009 nearly doubled from the previous year. The number of 1040EZ returns — the simplified tax form for filers who have no dependents, and whose taxable income is less than $100,000 — fell by 23 percent between 2008 and 2009. The decline in 1040EZs represents low-income taxpayers who lost their jobs and couldn’t remain a part of the workforce, Kleinbard told The Huffington Post. “What you’re seeing is people at the bottom rung of the economic ladder being taken off the economic ladder entirely,” Kleinbard said. According to the latest figures from the Department of Labor, U.S. unemployment is currently at 9.2 percent. A new monthly report will be released Friday.

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Flowing Water On Mars? NASA Reports Stunning New Discovery

NASA reported on Thursday that new pictures revealing “dark, finger-like features” on Mars that change seasonally indicate the possibility of flowing salt-water on the Red Planet. The pictures were captured by its Mars Reconnaissance Orbiter (MRO), a craft launched in 2005. “NASA’s Mars Exploration Program keeps bringing us closer to determining whether the Red Planet could harbor life in some form,” NASA Administrator Charles Bolden said in the statement, “and it reaffirms Mars as an important future destination for human exploration.” From NASA: Dark, finger-like features appear and extend down some Martian slopes during late spring through summer, fade in winter, and return during the next spring. Repeated observations have tracked the seasonal changes in these recurring features on several steep slopes in the middle latitudes of Mars’ southern hemisphere. This animation includes images that, according to NASA, span “from early spring of one Mars year to mid-summer of the following year.” They were taken by the High Resolution Imaging Science Experiment (HiRISE) camera on the MRO. Click here for more on the images. Credit: NASA/JPL-Caltech/Univ. of Arizona According to ABC News, NASA has been looking for water on Mars for 15 years. In 2008, the Phoenix spacecraft saw falling snow and found minerals in soil that indicated that there could have been a presence of water at one time. A full report will be published in Friday’s edition of Science. WATCH: Video via CNN:

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HP TouchPad now $200 off at Staples — it’s like Christmas in August

If there’s still not enough change in your couch to snatch up a $399.99 16GB HP Touchpad , today could be your lucky day — that is, if you’re in the market for a webOS slate in the first place. It looks like Staples is offering a $100 coupon for the slab, which should be applicable to the already discounted price, giving you webOS love for $299 for the 16GB model and $399.99 for 32GB. If that price gets any lower, the $35 tablet might just have to step up its game. HP TouchPad now $200 off at Staples — it’s like Christmas in August originally appeared on Engadget on Fri, 05 Aug 2011 12:55:00 EDT. Please see our terms for use of feeds . Permalink

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Ed

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Ed

Milva – Creola Tyler vs Johnny TLL × X RAID コラボ動画 AudiKhalid says: RT @ XavierLiem : #WhenIWas13 I pcc- ed more than twice a day. Maximum number: 9 times in one day.

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Financial Times

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Financial Times

Peter Schiff + others on terrible state of G20 economies (04Aug11) Cut Benefits to Bankers, Not Public Services – Interview With Ben Dyson… FTD “kauft Waffen” izwansc says: Financial Times : Larry Summers, the economist and former Treasury secretary, pointed out in The Financial Times this http://t.co/bpq7oas

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Stock Market News

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Stock Market News

stock market crash | stock market, stock market news, stock market … Stock Market Trading – Stock Market Tutorial Spartan Gold (SPAG) – A growing gold mining penny stock Sharekhan says: NTPC plans to invest Rs1 lakh cr in Arunachal proj: NTPC to invest about Rs1,00,000 crore in setting up of a nea… http://bit.ly/qApAx8

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Etta James Alive

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Etta James Alive

Tvmmtu says: #EttaJames alive : Son confirms that death rumors are false http://t.co/ddDEAx0 via @ Zap2it

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The final bell has been rung in the long-running Mattel-MGA Entertainment court battle over Bratz—and Barbie’s makers have taken a hell of a beating. A federal judge has ordered Mattel to pay MGA, the makers of Bratz dolls, a total of $310 million in punitive damages and lawyers fees,…

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Harry Smith Makes His NBC News Debut With a Birthday Love Letter to Obama

At the end of Thursday's NBC Nightly News, correspondent Harry Smith, formerly of CBS, made his first appearance on the network with a fawning birthday message to President Obama: “Happy birthday, Mr. President. Once upon a time, when you were a young man, all you had to do was show up and teeming throngs of people would gather to cheer you on….They even wrote songs about you.” [ Audio available here ]

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DiCaprio and Lautner Attend HFPA Luncheon

Leonardo DiCaprio, Taylor Lautner, Mark Wahlberg, Kevin Bacon, Gerard Butler and Lea Michele were among the stars at the Hollywood Foreign Press Association charity luncheon. (Aug. 5)

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