A College Degree Doesn’t Guarantee a Good Job

I thought this was a good article today.  To avoid any possible plagerism, I just copied the whole article and pasted it below.

A College Degree Doesn’t Guarantee a Good Job: Gary Shilling

By Bernice Napach

Anyone who has a kid in college knows that August can be the cruelest month. That's when the bill for the fall semester is due and usually it's higher than the bill for any previous semester.
Over the past decade college tuition and fees have been increasing much faster than the rate of inflation. The average annual cost for tuition, fees and room and board is $38,600 for a private 4-year college and $17,000 for a public 4-year college (for out-of state residents it's $30,000), according to the College Board.
These rising costs coupled with a sluggish economy are driving more students and their families to borrow for college. Outstanding student loan debt now tops $1 trillion, exceeding the amount of total credit card debt in the U.S.
An increasing number of those borrowers come from middle to upper middle class households, with incomes between $94,000 and $205,000. According to a Wall Street Journal analysis of recent Federal Reserve data, 26% of those households borrowed for college in 2010, up from 19.5% in 2007. They owed an average of $32,900 in 2010 — 24% more than they owed in 2007.
"The middle class is getting squeezed on college costs," economist Gary Shilling tells The Daily Ticker in the accompanying video.
At the same time, college graduates are having a tough time finding work. A recent analysis of government data conducted by Northeastern University and the Economic Policy Institute for the Associated Press found that roughly 1.5 million, or 54% of recent college graduates, were either unemployed or underemployed — working at jobs that do not require a college degree. That compares to 41% in 2000.
"Going to college doesn't guarantee a good job," says Shilling, president of A. Gary Shilling & Co. "A lot of people are coming out of college with huge student debt yet have no marketable skills."
Given the rising cost for college and the smaller payoff, families may ask: Is college worth it? Many say it is.
Earnings for college graduates are more than double that of high school graduates over a lifetime, according to the Georgetown University Center on Education and the Workforce. The unemployment rate for people 25 years or older who graduate from college is 4.3% compared to 9.3% for high school graduates, according to the latest data from the U.S. Labor Department.
"We may be in a state now where people looking at the costs are beginning to say is this really worth it?" Shiller asks. He says expect an "agonizing reappraisal of going to college."

President Reagan was Awesome

I went to a Business meeting last night.  Some of the discussion revolved around taxes and the economy.  One of the more memorabe discussions involved playing a clip from one of President Reagans speeches 15 years before he became president.  We could use a leader like him right now.  But we can also each do our own part.  Watch the clip on my website www.ibo-cpa.com/what_you_should_know and form your own conclusions, or discuss it in this forum.

FYI - President Reagan was actually shot in the head during his Presidentcy, and he never pushed for more gun control.

Constitution - guns and taxes

Oh yeah, why is it that IRS agents can carry hand guns, but they don't want any of the rest of us law abiding citizens to have them.  Do I need to reference the Second Amendment to the Constitution?  Yes I said law abiding citizens, you really think your going to keep guns away from the criminals, they don’t carry registered guns anyways, at least not registered to them.

Of course don't forget, they can amend to repeal an amendment as well, if enough people think the original amendment was a bad idea.

Speaking of amendments, what about taxes? 

Now our Founding Fathers were pretty smart when they set up tax revenue to be based on population. 

No capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or

Enumeration herein before directed to be taken. – US Constitution

 The more people requiring government service in an area need to pay more taxes... duh.  Who came up with this stupid idea that if you work harder you pay more taxes, or take more risk to generate more return, now pay more taxes.  Now this was clairified 100 plus years later... "clairified", they just completely changed it, it was pretty clear before..."No!"  See the "Change" below.

Amendment 16 - Status of Income Tax Clarified. Ratified 2/3/1913. - to Ammend the above clause.

"The Congress shall have power to lay and collect taxes on incomes, from whatever

source derived, without apportionment among the several States, and without regard to

any census or enumeration."

Now I understand the reason was to support the efforts of World War I, and it was important that we did that then, but now what.  Need I remind you that the top tax bracket in 1913 was 7%, which if you do the math, would still be enough to cover our military expenditures, considering whether we like it or not, we are a nation at war, becasue everybody want to take what we have fought to create and protect.  Thankyou to anyone who has selflessly served in our nations military.  Where does the rest of that 28% plus tax go?

What?

What do Taxes and Gun Control have to do with Economics?
Maybe nothing, maybe everything, this is a blog and states my opinions about whatever I want, you can agree, or disagree, or just not read it.  Just because it's on the internet, doesn't mean anything I say is true, or supported by fact.  As I write this, I'll cite credible sources for things that need citing, other things, you can just judge based on your own experiences.
I'll put some good tax advice on here from time to time, to help my clients as they prepare for dealing with their obligation to the government and society.  Hopefully I can provide insight to minimize their tax burden, and the drudgery of preparing the information needed to file.  Others of you can feel free to use any of my resources, but if your not a client, I won't go talk to your friendly neighborhood, armed IRS agent with you if they come calling.