Best of the Blogs: Are Americans Richer Than They Think?
Minyanville's daily roundup of some of the best financial commentary from around the Web.
Link: Why Tax Policy Assumes People Are Richer Than They Think
The deceptively simple term “income” is at the heart of much of the debate about taxation. That was illustrated in a recent column in The New York Times, which provocatively reported that a certain James Ross of New York City paid 102 percent of his income in taxes in 2010. But to be precise, that rate was what he paid on his taxable income — a figure considerably less than the definition of income used to calculate federal income taxes, which is “adjusted gross income.”
All Things D
Link: An LTE-Capable iPad Paves the Way for the 4G iPhone
If, as is expected, the next iPad adds support for faster LTE networks, it could give Apple the experience it needs to add similar capabilities into its flagship iPhone. The Wall Street Journal says that the iPad that debuts next month will support LTE, the next-generation network technology being used by both Verizon and, more recently, AT&T. Apple has traditionally eschewed early support for faster networks, instead preferring to let such technologies mature before adding them into the iPhone. But adding a new network technology first to the iPad makes a lot of sense. (Also Read Apple Will Unveil iPad 3 in March, Say Sources.)
China Real Time Report
Link: Chinese Firm Steps Up Attack on Apple in iPad Trademark Spat
The company that registered the “iPad” trademark in China doesn’t just want to keep Apple from selling the popular tablet device inside China. Now it wants to keep Apple from shipping iPads across China’s borders as well. Proview Technology (Shenzhen) has filed a request with Chinese Customs to block the import and export of the iPads on trademark grounds, Yang Rongshan, the company’s CEO, told China Real Time on Tuesday. China’s Customs Administration could not be reached for comment.
Link: Regulators Bless Google/Motorola Marriage
Google on Monday won approval for its $12.5 billion purchase of Motorola Mobility Inc. in both Europe and the United States, a decision that could have wide-ranging implications on the Silicon Valley giant’s ability to take on rivals like Apple, RIM and Microsoft. (For related content, see 6 Misconceptions Around the Google, Motorola Mobility Merger.)
Link: Happily Ever After?
Same-sex couples can get married, at this point, in six states and the District of Columbia. But that doesn’t mean their personal finances have gotten much easier. The problem remains the same: Under the Defense of Marriage Act of 1996, the federal government doesn’t recognize same-sex marriage, even if a state government does. At the moment, Connecticut, Iowa, Massachusetts, New Hampshire, New York, Vermont and Washington, D.C., allow same-sex marriage.
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