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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (26030)	2/8/2005 12:03:15 PM
From: Tommaso	Respond to of 110194

Here's the whole story on the taxability of Social Security payments. "HI" means Hospital Insurance, or part of Medicare. So in effect there is a transfer of Social Security income into the Medicare system. 1935 Benefits are not subject to income tax. 1983 If the taxpayer's combined income (total of adjusted gross income, interest on tax-exempt bonds, and 50% of Social Security benefits and Tier I Railroad Retirement Benefits) exceeds a threshold amount ($25,000 for an individual, $32,000 for a married couple filing a joint return, and zero for a married person filing separately), the amount of benefits subject to income tax is the lesser of 50% of benefits or 50% of the excess of the taxpayer's combined income over the threshold amount. The additional income tax revenues resulting from this provision are transferred to the trust funds from which the corresponding benefits were paid. Effective for taxable years beginning after 1983. 1993 Modified for a taxpayer with combined income exceeding a secondary threshold amount ($34,000 for an individual, $44,000 for a married couple filing a joint return, and zero for a married person filing separately), so that the amount of benefits subject to income tax is increased to the sum of (1) the smaller of (a) $4,500 for an individual, $6,000 for a married couple filing a joint return, or zero for a married person filing separately, or (b) 50% of the benefit, plus (2) 85% of the excess of the taxpayer's combined income over the secondary threshold. However, no more than 85% of the benefit amount is subject to income tax. The additional income tax revenues resulting from the increase in the taxable percentage from 50% to 85% are transferred to the HI Trust Fund. Effective for taxable years beginning after 1993.

To: russwinter who wrote (26030)	2/8/2005 1:08:55 PM
From: Ramsey Su	Read Replies (2) \| Respond to of 110194

5. As deliquencies, defaults start to pick up, lending institutions will tighten standards and choke off marginal types (plenty), if they aren't already. Margin and spreads are too squeezed for the risk. looks like the lenders are not too worried right now. federalreserve.gov

To: russwinter who wrote (26030)	2/8/2005 1:32:34 PM
From: ild	Respond to of 110194

Some charts from today's CI: idorfman.com idorfman.com idorfman.com idorfman.com

To: russwinter who wrote (26030)	2/8/2005 5:29:38 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

Russ, I might have missed it... Do you see any evidence that the FED is monetizing the long end of the curve while hiking? Mish