Racin'
& Internet Stuff:
By Tom
Avenengo
Volume # 27
8/26/2010
First:
Well, I guess that Kyle Busch is due some
congratulations what with him being the first ever to win all three top tier
NASCAR races on one weekend – or at one track with races in conjunction.
http://sports.yahoo.com/nascar/news?slug=jh-postbristol082110
Next:
This writer only hit OCFS last weekend as far
as racing goes. Didn’t even see much on
TV, but did see enough, although today’s Indycars on road courses is something
I really don’t watch anymore. And,
Dammit, I’ve missed some of the NASCAR Modified shows on Versus
and SPEED, too. I hear the Bristol
Modified race was a real good one. Hope
they do a re-play.
Some
of my thoughts – part 1:
I did see the finish of the Nationwide race last Friday night. I find it hard to believe that NASCAR did not come out and penalize Kyle Busch after he said he intentionally took out Brad Keselowski. “Hard racing” is what I’ve read NASCAR came out and said. Hey NASCAR, - remember that the next time it happens, OK?
Kyle
Busch, too me, acted quite childish, mocking the fans as they were booing him
after his Nationwide win, with him wiping away “tears”.
Hey,
I have to give the young man credit, though, he can
drive a stock car.
Some
of my thoughts – part 2:
There’s a discussion on the Dirt Track Digest’s forum about what some might think would be good for this up-coming Eastern States Weekend at OCFS – October 15, 16 & 17. Like – run the same rules for the 358 Small Blocks as were run for the 358 Modified Hard Clay Challenge race that was run a few weeks ago. I agree. Also, maybe opening up the tire rule for most any American Racer tire. Again, I agree.
Keep
in mind – ESW is not a DIRTcar sanctioned event. In fact, there is really no sanctioning race
body – not DIRTcar or ROC, for that matter.
Note: As for the open tire deal – that might not be
possible since OCFS is probably tied into some kind of contract with events
they promote and the “OCFS only” tire to be used.
Going back, in time:
Note: Most of the following
information was found here:
http://www.wheelsofspeed.com/history.html
Covering the days of August 20th to 26th.
AUGUST 20
1938
Billy Winn ... Died ... An
American racecar driver. Primarily a sprint car driver, Winn competed in four
2009
Jonathan Byrd ... Died ...
Longtime IndyCar Team Owner. Byrd campaigned late
model stock cars in the early 80’s and once sponsored NASCAR champion Darrell
Waltrip, but turned to USAC Midgets in 1985. He teamed with the late, great
Rich Vogler from 1985 to 1990. The pairing qualified for 5
AUGUST 21
1913
Fred Agabashian... Born
... Born in
1928
Elmo Langley... Born ...
1944
Bruce Walkup... Born ...
Walkup raced in the USAC Championship Car series in the 1967-1971 seasons, with
35 career starts, including the 1969 and 1970 Indianapolis 500 races. He
finished in the top ten 11 times, with his best finish in 4th position in 1969
at
1983
Gene Force ... Died ...
Gene Force raced migets and sprint cars in the 1950's and early 60's. He drove
in the AAA and USAC Championship Car series, racing in the 1951-1952, 1954,
1956, and 1958-1960 seasons with 33 starts, including the 1951 and 1960
1995
Chuck Stevenson... Died
...Chuck drove in the AAA and USAC Championship Car series, racing in the
1949-1954, 1960-1961 and 1963-1965 seasons with 54 starts, including the
Indianapolis 500 races in 1951-1954, 1960-1961, and 1963-1965. He finished in
the top ten 37 times, with 4 victories, 2 of them coming in the 1952 season
when he won the AAA National Championship. Stevenson also raced in two NASCAR
events -- one in 1955 and one in 1956, picking up a win at Willow Springs
Raceway in 1955 driving a Ford. The race he entered in to in 1955 was driving a
car owned by Indy winner Pete DePaolo.
AUGUST 22
1964
Bill Horstmeyer... Died
... Bill Horstmeyer, a veteran of twelve years of racing who sucessfully raced
in Badger Midgets, was entered as a rookie in his first Champ Car race in his
newly purchased "big car" - the former "Central Excavating"
vehicle, which he acquired from Pete Salemi. The race, a 100-mile feature event
at the 1964
AUGUST 23
1936
Doc MacKenzie ... Died ...
AAA driver from the 1930's. He was killed in a Sprint Car race on the 1.0-mile
dirt oval
1963
Kenny Wallace ... Born ...
NASCAR Sprint Cup Series and Nationwide Series driver. He has two brothers who
were/are also NASCAR drivers: Rusty Wallace and Mike Wallace, a nephew Steve
Wallace, and a niece Chrissy Wallace.
1966
Steve Park
... Born ... Park began racing not in an entry-level class, but in NASCAR
Modifieds on
AUGUST 24
1930
Carl Williams... Born ...
USAC driver from the 1960's & 70's.He ran the Indy 500 6 times with a best
finish of 9th in 1970. He was killed in a motorcycle accident in
Roger McCluskey... Born
... McCluskey was one of the most successful drivers in USAC history. McCluskey
won the USAC sprint-car championship in 1963 and 1966 and won the USAC
stock-car crown in 1969 and 1970. A fifth USAC title came in the Champ Car
(Indy car) division in 1972. McCluskey owns 23 victories in both the USAC
sprint-car and stock-car divisions, and his five Indy car and four midget
triumphs give him 55-all time USAC victories. McCluskey made 18 Indy 500 starts
with a best finish of third. He is a member of the National Sprint Car Hall of
Fame and the Indianapolis Motor Speedway Hall of Fame. Roger McCluskey lost his
battle with cancer just five days before his 63rd birthday on Aug. 29, 1993.
1962
Clark "Shorty"
Templeman ... Died ... Shorty drove in the AAA and USAC Championship Car
series, racing in the 1954-1962 seasons with 42 starts, including the
Indianapolis 500 races in 1955, 1958, and 1960-1962. He finished in the top ten
16 times, with his best finish in 2nd position, in 1961 at both DuQuoin and
1997
Luigi Villoresi ... Died
... Driver from
AUGUST 25
1976
Doc Shanebrook... Died ...
AAA and ARDC driver 1950's
AUGUST 26
1925
Bobby Ball... Born ... AAA driver from the early 1950's. On January 4,
1953, he was involved in an accident at Carrell
1944
Johnny Parsons... Born ...
Parsons is the son of Arza and 1950
1946
Swede Savage... Born ...
Savage started racing 1/4 midgets then motorcycles and karts. He then graduated
to NASCAR, Can-Am, Trans-A and finally into Indy cars
where he tragically lost his life as a result of injuries sustained in the Indy
500 in 1973.
1984
Jimmy Wilburn... Died ...
He won a non-points Championship Car race at
Track
news – (for tracks in my area):
Accord: http://www.accordspeedway.com/
This coming Friday:
$2000 to win 30 Lap
Modified Race, plus
Sportsman – Spec Sportsman, Pro Stocks – Pure Stocks-Lightning Sprints &
Vintage Modifieds
Note: I’ve read that
when the “King of the Catskills” Spec Sportsman 50 lap race is run, on
September 25th, it will be $3,500.00 to win! And the winner of the ROC 100 lap “King of
the Catskills” race on September 24th, will get $6,000.00! Will there be more coming – maybe about the
Sportsman class and their price money?
OCFS: http://www.orangecountyfairspeedway.net/
This
Saturday – “Accord Speedway Night” - a regular show with Modifieds, Sportsman,
Pro and Pure Stocks and a return visit with the CRSA 305 Sprint Cars.
This Saturday – A regular show
with Dirt Sportsman, Pro
Stock, BMS Modified, Street Stock, 4 Cylinder and Bandoleros
OVRP
– the dirt track: http://www.oaklandvalleyspeedway.com/
There’s a practice session scheduled for Friday evening, Karts and Slingshots racing on Saturday and Bike and Quad racing on Sunday. They will be closed the following weekend – Labor Day weekend.
Hamlin: http://www.hamlinspeedway.com/
This Saturday: Twin 20's
for Slingshots and Wingless 600's ~ Round Robin Time Trials
The
History of the Sport:
I
imagine you’ve heard of “Formula Libre” races?
There have been quite a few of them – mostly being run “Back in the
day”, so to say. I went to one of the
first – the one that was in Lime Rock, Ct. back in
1959. That’s the one that Rodger Ward
won in a midget. Later on, in 1959, my
brother attended one that was held at Watkins Glen, in October, with rain/sleet
and snow, the weather for that day. They
have had three “Formula Libre” races at the “Glen” 1958, 1959 & 1960.
The
first one, in 1958, had a total of 14 cars, with some pretty famous
drivers. Joachim Bonnier won the 81 lap,
186.3 mile race in a Maserati. He had
the fastest lap in the race with a speed of 103 MPH. Dan Gurney was the only other driver to
complete all 81 laps, finishing second in a Ferrari. Some four laps behind was Bruce Kessler in
another Ferrari. A Porsche, driven by
Dick Meinhardt was next, 7 laps behind the winning car. Another Maserati, driven by Lt. Col. Robert
Kuhn was next – some 10 laps behind.
W.K. Rutan, in a Porsche Special was the last of those running, being 11
laps behind. Dropping out were: Herb Swan, Lloyd Ruby, Bob Said, Loyal
Katskee, Ray Saidel, Allan Markelson, George Constantine and Phil Hill.
Photos
and a little about the race can be found if you go here:
http://www.barcboys.com/GlenFormLibre1958.htm
In
1959, Sir Stirling Moss came across the
More
about this event can be seen if you go here:
http://www.barcboys.com/GlenFormLibre1959.htm
In
1960, Moss was back along with Sir Jack Brabham. They were the only two to complete all 100
laps and 230 miles.
The
finish:
1.
2. Jack Brabham (Cooper Climax
F-1)
3. Roy Salvadori (Cooper Monaco
– 91 laps)
4. Joachim Bonnier (Cooper
Climax F-1 – 90)
5. Francis Bradley (Porsche RS
60 – 89)
6. Stutz Plaisted (Cooper Climax
F-2 – 88)
7. Paul O’Shea (D- Jaguar –
87)
8. J. Muzzin (Porsche RS – 80) 9.
9. P. Murdoch (
10. Harry Entwistle (Lotus Mk IV – 78)
11. V. Meinhardt (Porsche Special – 74)
12. Herb Swan (Porsche RS – 73)
13. Peter Ryan (Sadler F L – 56)
Oliver
Gendebein (Cooper Climax F-1) and Will Bradley (Cooper Climax F-1) both dropped
out.
More
info and photos on this event can be seen if you go to these two links:
http://www.barcboys.com/GlenFormLibre1960.htm
http://www.barcboys.com/GlenFormLibre1960Pg2.htm
Former
Dirt Oval (
I
see where Mike Mammana was 7th in the Sporstman feature at Big
Diamond.
Davie
Franek was 5th in the 358 Sprint Car feature at and 2nd
in the URC feature at Selinsgrove.
In
CRSA 305 Sprint Car action this past weekend, Billy VanInwegen was 9th,
Josh Peiniazek 11th and Danny Hennessy 20th at Penn Can,
while at Five Mile, Josh was first and Chuck Alessi 24th.
Jacob
Hendershot was the winner in the 270 Micro Sprint feature at Wyalusing.
At
Nick
Pecko had a 2nd place finish in the Modified feature at Sundance
Vacations Speedway.
At
OCFS, Tim Hindley was 2nd, Billy VanInwegen 13th, Clinton
Mills 16th, Mike Ruggiero 21st and Danny Creeden a DQ in
the Modified feature. In the Sportsman
feature, Joe Conklin was 3rd, Brian Krummel 4th, John
Lodini 5th, Matt Janiak 7th, Matt Hitchcock 9th,
Doc Young 10th, Zack Vavricka 18th and Keith Still 20th.
Clinton
Mills was 5th, Greg Hastie 9th, Jamie Yannone 13th,
Danny Creeden 20th and Jimmy Johnson a DNQ at Accord in the Modified
class. In the Sportsman feature, Anthony
Perrego was 5th, Brian Krummel 7th, Mike Ruggiero 10th
and Kyle Armstrong listed as 22nd, with zero laps scored.
Kyle
Rohner was 12th, Kalyla Smykla 19th, and brother RJ Smykla a DNQ in the Spec Sportsman feature.
At
Hamlin, Charlie Lawrence was 20th in the Slingshot feature. Rick Casario 6th in the 270 Micro
Sprints, while Cait Chambers was 19th, Geordan Farry 20th
and Brittany Tresch 21st in the Wingless 600 Micro Sprint
feature. Wyatt Clark was 6th
n the 270 Micro Sprint Rookie feature while Joe Kata won the 600 Micro Sprint
Rookie feature.
Kyle
Rohner had a 4th place finish in the Stage One Modified feature at
Borgers. Tiffany Wambold was 3rd
in the 270 Mocro Sprint Rookie feature – those races being on Saturday. On Friday, Luke Shostkewitz was 2nd
in the Wingless 600 Micro Sprint feature.
At
More racin’ stuff:
Coming up:
Just a reminder about the Racing Expo show
coming up at Hnchliffe Stadium in Paterson, NJ on Sunday, September 5th.
There
was some information about this show and photos from “Back in the day” sent out
via Facebook a few weeks ago. Here’s a
link to that:
Information
about the Expo is in one of the first photos.
I see there has been a change or two.
Directions
to Hinchliffe Stadium – with thanks to Ronny Dennis:
Directions from Rt.80:
Coming from
Take Rt. 80 West to exit 55B Union Blvd./Totowa
go 2 and 4/10 miles on
to Redwood Ave. (there is an Autozone on left) make a RIGHT
onto
Redwood Ave. (you will see the stadium in front of you) go
1/10 of a mile to Totowa Ave., make a RIGHT onto Totowa Ave.,
go 1/10 of a mile to Maple Ave. make a LEFT onto Maple Ave.
Hinchliffe Stadium will be on
your left.
Coming from Delaware Water Gap area:
Take Rt. 80 East to Exit 54 Minnisink Rd./Little Falls/Totowa
Make a LEFT towards Totowa, go 7/10 of a mile to Totowa Rd.
Make a RIGHT onto Totowa Rd., go 3/10 of a mile to Union
Blvd.
make a LEFT onto Union Blvd., go approximately 1 mile to
Redwood Ave.
(there is an Autozone on left) make a RIGHT onto Redwood Ave.
(you will see the stadium in front of you) go 1/10 of a mile
to Totowa
Ave. make a RIGHT onto Totowa Ave., go 1/10 of a mile to
Maple Ave.
Make a LEFT onto Maple Ave. Hinchliffe Stadium will be on the
left
A video from a recent Expo: http://www.youtube.com/watch?v=6OdsfcNcnEE
Some “Hot laps”: http://www.youtube.com/watch?v=VpB5y0zeYHE&feature=related
And,
a pretty big race has been scheduled for the Oakland Valley Speedway (the Dirt
Oval) for Saturday, September 11th – here’s some info that’s on
their website:
$75 entry fee (includes driver pit pass)
Pre-Register by
August 20th and save $10.
Classes:
Senior Slingshots
350lb Flat Head
Go-Karts (Medium Class) – Ages 15+
Gates open at 11am
Saturday September 11th
Practice begins at
12pm
Qualifying begins
at 1:00pm
Race Format:
50
Lap NASCAR style race, with a mandatory pit stop at lap 25.
Pit Stop will
require you to change a tire and fill up on fuel.
25 Karts will
advance to the feature
Prize Payout:
Fastest Time from
Qualifying – $75.00
1st place at
Lap 25 – $75.00
Random position
drawn from a Hat at lap 25- $25.00
1st person
back on track after pit stop – $75.00
Overall Finishes
1st place –
$500 plus $200 donated to charity of choice in your name
2nd place –
$300 plus $100 donated to charity of choice in your name
3rd place –
$150 plus $75 donated to charity of choice in your name
???? place (determined that day) – $75.00
Pre-register at the
track or by emailing ovspeedway@gmail.com
Note: I don’t know if they will have a rain date
for this show, or not.
Is another type of racecar
really necessary?
Ray Evernham – you’ve heard of him,
right? And you’ve also heard of Bruton
Smith, too, correct? Well they’ve teamed
up for a new venture – Dirt Track Legends cars. Maybe they’ll catch on – who knows, for
sure? I know that the Tobias SpeedSTR
Series is still kind of having a tough time getting more than a dozen cars at
their events here in the Northeast area.
There are also Mod Lites, 600 Modifieds and a new class (with only a few
cars it seems) – Stage One Modifieds, which are very similar to the 600’s. And one can’t forget about the Legends cars,
themselves. Will the magic of the
Evernham name help? He was, if you recall,
also involved with Tobias and the SpeedSTR cars, too.
Check what’s happening, and maybe what these
cars will look like, by going here: http://www.onedirt.com/news/evernham-to-design-legend-cars-for-the-dirt/
Note:
Cars look a lot like some plastic model cars that were out in the late
50’s and the 60’s.
Other forums/message boards and websites:
You might find some interesting reading if you go to the links below.
Track
Forum: - http://www.trackforum.com/forums/
Frontstretch.com:
http://www.frontstretch.com/
Jayski:
- http://www.jayski.com/
Open
Wheel Racers3: http://www.openwheelracers3.com/
Race
Pro Weekly: http://raceproweekly.com/
Racing
on TV - http://www.racefantv.com/USTV.htm
Other sports:
I’m into watching Professional football and
baseball. Was neat being able to watch
football again, even if it was some pre season games. Sad thing is that the cost of attending a
game, in person, has really gotten out of the price range for a “working” man
with a family, today. Now I’ve been to
major league auto races – NASCAR and Indycar, and, yes, it’s quite different in
person. I’ve never been to a
professional football game and only attended one baseball game, in person when is was a
Video
time:
For all
those truck drivers out there that are going to pack it in soon or have already
done so – Kathy Mattea - Eighteen Wheels And A Dozen Roses hteen Wheels And A Dozen Roses
http://www.youtube.com/watch?v=6ElCpHuiWkA
Other
(non racing) news:
In part:
“The summer job used to be a staple of teenage life. Paper routes and ice cream parlors provided work experience, paychecks, and a psychological boost in the form of independence and self-esteem.
The worst recession since the Great Depression has changed all that.
Today, teenage unemployment is at an all-time high, hitting 26.1 percent in
July. According to economists at
Note: I believe I’ve made mention of this in some
of my previous columns – kids getting out of school with no job opportunities
due to the downturn of the economy.
And, in a way, to
go along with the above, and our economy:
In part:
Nearly half of the 1.3 million homeowners who enrolled in the Obama administration's flagship mortgage-relief program have fallen out.
The program is intended to help those at risk of foreclosure by lowering
their monthly mortgage payments. Friday's report from the Treasury Department
suggests the $75 billion government effort is failing to slow the tide of
foreclosures in the
http://news.yahoo.com/s/ap/us_mortgage_aid
In part:
It's starting to feel like another recession.
Businesses are ordering fewer goods. Home sales are the slowest in decades. Jobs are scarce, and unemployment claims are rising. Perhaps most worrisome, manufacturing activity, which had been one of the economy's few bright spots, is faltering.
http://news.yahoo.com/s/ap/20100825/ap_on_bi_go_ec_fi/us_economy
In part:
More than 3 million seniors may have to switch their Medicare prescription plan next year, even if they're perfectly happy with it, thanks to an attempt by the government to simplify their lives.
The policy change could turn into a hassle for seniors who hadn't intended to switch plans during Medicare's open enrollment season this fall.
And it risks undercutting President Barack Obama's promise that people who like their health care plans can keep them.
http://news.yahoo.com/s/ap/20100825/ap_on_bi_ge/us_medicare_drug_plans
The
Scientists discovered the new microbe while studying the underwater dispersion of millions of gallons of oil spilled into the Gulf following the explosion of BP's Deepwater Horizon drilling rig.
And the microbe works without significantly depleting oxygen in the water, researchers led by Terry Hazen at Lawrence Berkeley National Laboratory reported Tuesday in the online journal Science Express.
Is this true?:
Another long one this week – again from an e-mail I received about our
future and taxes:
In just six months, on January 1, 2011, the largest tax hikes in
the history of
They will hit families and small businesses in three great waves.
On January 1, 2011,
here’s what happens... (read it to the end, so you see
all three waves)...
First Wave:
Expiration of 2001 and 2003
Tax Relief
In
2001 and 2003, the GOP Congress enacted several tax cuts for investors, small
business owners, and families.
These
will all expire on January 1, 2011.
Personal income
tax rates will rise.
The
top income tax rate
will rise from 35 to 39.6 percent (this is also the rate at which
two-thirds of small business profits are taxed).
The lowest rate will
rise from 10 to 15 percent.
All
the rates in between will also rise.
Itemized deductions and
personal exemptions will again phase out, which has the same mathematical
effect as highermarginal tax rates.
The
full list of marginal rate hikes is below:
The 10% bracket rises to an expanded 15%
The 25% bracket rises to 28%
The 28% bracket rises to 31%
The 33% bracket rises to 36%
The 35% bracket rises to 39.6%
Higher
taxes on marriage and family.
The "marriage
penalty" (narrower tax brackets for married couples) will
return from the first dollar of income.
The
child tax credit will be cut in half from $1000 to $500 per child.
The standard
deduction will no longer be doubled for married couples relative to the single
level.
The
dependent care and adoption tax credits will be cut.
The return
of the Death Tax.
This
year only, there is
no death tax. (It’s a quirk!) For those dying on or after
January 1, 2011, there is a 55 percent top death tax rate on estates
over $1 million. A person leaving behind two homes, a business, a retirement account, could
easily pass along a death tax bill to their loved ones. Think of the
farmers who don’t make much money, but their land, which they purchased years
ago with after-tax dollars, is now worth a lot of money. Their children
will have to sell the farm, which may be their livelihood, just to pay the
estate tax if they don’t have the cash sitting around to pay the tax.
Think about your own family’s assets. Maybe your family owns real
estate, or a business that doesn’t make much money, but the building and
equipment are worth $1 million. Upon their death, you can inherit the $1
million business tax free, but if they own a home, stock, cash worth $500K on
top of the $1 million business, then you will owe the government $275,000 cash!
That’s 55% of the value of the assets over $1 million! Do you have that
kind of cash sitting around waiting to pay the estate tax?
Higher tax rates on savers
and investors.
The
capital gains tax will rise from 15 percent this year to 20 percent in 2011.
The
dividends tax will rise from 15 percent this year to 39.6 percent in 2011.
These
rates will rise another 3.8 percent in 2013.
Second Wave:
Obamacare
There
are over twenty new or higher taxes in Obamacare. Several will first go into
effect on January 1, 2011. They include:
The "Medicine Cabinet
Tax"
Thanks
to Obamacare, Americans will no longer be able to use health savings account
(HSA), flexible spending account (FSA), or health reimbursement
(HRA) pre-tax dollars to purchase non-prescription, over-the-counter
medicines (except insulin).
The "Special Needs Kids
Tax"
This
provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500
(Currently, there is no federal government limit). There is one group of
FSA owners for whom this new cap will be particularly cruel and
onerous: parents of special needs children.
There are thousands of families with special needs children in the
Tuition rates at one leading school that teaches special needs
children in
Under
tax rules, FSA dollars can not be used to pay for this type of special needs education.
The HSA
(Health Savings Account) Withdrawal Tax Hike.
This
provision of Obamacare increases the additional tax on non-medical early
withdrawals from an HSA from 10 to 20 percent, disadvantaging them
relative to IRAsand other tax-advantaged accounts, which remain at 10 percent.
Third Wave:
The Alternative Minimum Tax (AMT) and Employer Tax Hikes
When
Americans prepare to file their tax returns in January of 2011, they'll be in
for a nasty surprise-the AMT won't be held harmless, and many tax
relief provisions will have expired.
The
major items include:
The AMT will ensnare over 28
million families, up from 4 million last year.
According
to the left-leaning
Small business expensing will
be slashed and 50% expensing will disappear.
Small businesses can normally expense (rather than slowly-deduct,
or "depreciate")
equipment purchases up to $250,000.
This will be cut all
the way down to $25,000. Larger businesses can currently expense half of
their purchases of equipment.
In January of 2011, all of it will have to be "depreciated."
Taxes will be raised on all
types of businesses.
There
are literally scores of tax hikes on business that will take place. The
biggest is the loss of the "research and experimentation
tax credit," but there are many, many others. Combining high marginal tax rates
with the loss of this
tax relief will cost jobs.
Tax Benefits for Education
and Teaching Reduced.
The deduction for tuition and fees will not be available.
Tax credits for education will be limited.
Teachers will no longer be able to deduct classroom expenses.
Coverdell Education Savings Accounts will be cut.
Employer-provided educational assistance is curtailed.
The student loan interest deduction will be disallowed for hundreds of
thousands of families.
Charitable Contributions from
IRAs no longer allowed.
Under
current law, a retired person with an IRA can contribute up to $100,000 per
year directly to a charity from their IRA.
This contribution
also counts toward an annual "required minimum distribution."
This ability will no longer be there.
PDF Version Read more: <http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171>; http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171#%23ixzz0sY8waPq1
And
worse yet?
Now, your insurance will be INCOME on your W2's!
One
of the surprises we'll find come next year, is what follows - - a little "surprise"
that 99% of us had no idea was included in the "new and
improved" healthcare legislation . . . the dupes, er,
dopes, who backed this administration will be astonished!
Starting
in 2011, (next year folks), your W-2 tax form sent by your employer
will be increased to show the value of whatever health insurance
you are given by the company. It does not matter if that's a private
concern or governmental body of some sort.
If you're retired? So what... your
gross will go up by
the amount of insurance you get.
You
will be required to pay taxes on a large sum of money that you have never seen.
Take your tax form you just finished and see what $15,000 or $20,000
additional gross does to your tax debt. That's what you'll pay next year.
For many, it also
puts you into a new higher bracket so it's even worse.
This is how the government is going to buy insurance for the15%
that don't have insurance and it's only part
of the tax increases.
Not
believing this??? Here is a research of the summaries.....
On
page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE OFFSET PROVISIONS-(sec.
9001,
as modified by sec. 10901) Sec.9002 "requires employers to include in
the W-2 form of each employee the aggregate cost of applicable employer
sponsored group health coverage that is excludable from the employees
gross income."
- Joan Pryde is the senior tax editor for the Kiplinger letters.
- Go to Kiplingers and read about 13 tax changes that could affect
you. Number 3 is what is above.
Closing with this:
A distraught senior citizen
phoned her doctor's office.
'Is it true,' she wanted to know, 'that the
medication you prescribed has to be taken for the rest of my life?'
'Yes, I'm afraid so,' the doctor
told her.
There was a moment of silence
before the senior lady replied, ‘I'm wondering, then, just how serious
is my condition, because this prescription is marked
'NO REFILLS'.'
May “Guardian Angels” sit on the shoulders of all of our race drivers and race fans, and guide them safely around the tracks!
Drive safe!
As usual, you can reach me
at: ygordad@yahoo.com