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This Week in Tax & Finance

Here’s a quick rundown of the most interesting tax and finance articles I’ve read this week:

Special taxes for soda? Well, Mexico implemented a 10% soda tax, which meant that any sugary, carbonated beverages costs consumers more than the price of a bottled water. According to the article posted by Wired, the US could learn something from how the Mexican soda tax was implemented. Berkeley, California already has a version of this tax, but, without nationwide uniformity, the effects of a soda tax are limited. The researchers remain hopeful about the US implementing something similar, but I remain a skeptic. I know how Americans, in general, feel about any tax. They also believe it is their right to guzzle toxic products, so long as said toxic product tastes good.

The takeaway? A soda tax is highly unlikely in the US, where personal freedom reigns over collective wellbeing.

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Kids are benefiting from “drugs” (marijuana sales) in Colorado. The Cannabist reports that the 2015 excise taxes collected on marijuana sales totals $3.5 million so far, with numbers expected to increase over the upcoming months. The funds are being used for school construction. There is some additional proposed legislation that will help facilitate the continued use of the excise taxes for school, but it’s very likely that the proposition will pass.

The takeaway? Since marijuana purchases in Colorado mean school funding, purchasing cannabis is now a civic duty.

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Do you find that, at the end of the month, you always end up with more month than money? Well, that seems to be a national epidemic, as the federal government managed to overspend its tax revenue by $313 billion dollars. According to CNS News, the feds collected nearly $2.5 trillion dollars in tax revenue over the past 9 months, and still managed to overspend. The largest tax collected came from individual income taxes, followed by payroll (Social Security and Medicare) taxes, then corporate taxes. Despite so many tax streams, the government still spends too much. Let’s hope that this fiscal mismanagement gets under control.

The takeaway? Bouncing checks is a national trait, and it’s detrimental on any level.

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That’s all for this week. Look out for another post this week!

This Website is One Month Old!

I’m so excited to announce that this website is officially one month old!

I’m still learning so much, as I have never worked on WordPress so extensively. I have found myself accidentally submitting blog posts when what I meant to do was save them as drafts (that has happened more than once, and actually happened earlier today)! I found out- the hard way- that the beautiful colors I’d selected were only available under Premium accounts. I learned about email forwarding, sharing on social media, and the amazing convenience of scheduling posts.

Working through the details of a business, then going into the creation of a website, was quite the undertaking. I’m just glad that I’m finally on this path. I look forward to sharing more valuable information with you all in the future! In the meantime, I will be celebrating this one month anniversary!