Sunday, February 3, 2013

Hillary Clinton will release a memoir about her time as Secretary of State

Hillary Clinton announced recently that she will write another memoir, this one focusing on her tenure as US Secretary of State.

Clinton is currently wrapping up her time in the post, with her last day scheduled for Feb. 1.
“I don’t know what I’ll say in it yet,” Clinton said during a news conference, when she stated that she was planning on penning another memoir.

She released her first book in 1996 with “It Takes A Village,” which focused on what it takes to raise children today and the role that society should play. Her 2003 memoir, “Living History,” began with her childhood and discussed her time as First Lady in the White House. She also authored a 1998 children’s book titled “Dear Socks, Dear Buddy,” which detailed how kids could write letters to White House pets.

Clinton’s husband and former president Bill Clinton has also written several titles, including his newest, “Back to Work,” which was published in 2011 and focused on the US economy.

During the same news conference, Clinton said that she is “not inclined” to launch a presidential campaign for 2016.

“I’m not thinking about anything like that right now,” she said. “I am looking forward to finishing up my tenure as secretary of state and then catching up on about 20 years of sleep deprivation.”

North Carolina, Kentucky renew series

It's official: North Carolina and Kentucky will renew their basketball series, with a game in Chapel Hill, N.C., on Dec. 14 next season, and another at Rupp Arena in Kentucky during the 2015-16 season.

“I think it’s a great series for both schools and our fans as well as college basketball fans period,” Tar Heels coach Roy Williams said in a prepared statement. “North Carolina and Kentucky have great traditions and, regardless of who you pull for, fans mark this as a must-see game on the schedule.”

After 12 years, the schools did not play this season, citing the expansion of the ACC and SEC schedules.

UNC leads the series 22-13 and has won six of the last nine meetings.

Credit: ESPN

What you should know about the Earned Income Tax Credit

As tax filing season approaches, the IRS is reminding low-income families about the Earned Income Tax Credit (EITC). The EITC provides a wage subsidy for low- and moderate-income families and is an important income support for many.

In 2012, a family with two children could receive an income boost of 40 cents for every dollar earned, until they reached the maximum credit of $5,236 (which happens once earnings reach $13,090). The credit begins to phase down when income exceeds $17,090 ($22,300 if married) and disappears entirely for families with two children when income hits $41,952 ($47,162 if married). A smaller credit is available for smaller families and a larger credit is available for families with at least three children (see chart), but that larger credit is scheduled to expire after 2017.

The Tax Policy Center estimates that almost 36 percent of all EITC benefits for 2012 will go to families in the lowest fifth of all incomes, and an additional 51 percent will go to families in the second income quintile. Almost no benefits flow to families in the top 40 percent of the income distribution. Because incomes at the bottom end of the distribution are highly volatile, EITC receipt status is often temporary with families typically receiving the credit for only one or two years.

Research consistently finds that the EITC encourages work, especially among single moms. One study found that the EITC lifted over 6 million people out of poverty in 2009. The credit also improves infant health. In 2012, 24 states and the District of Columbia have an EITC which supplements the federal EITC by as much as 45 percent.

It is not known how many people are eligible for the EITC and fail to claim it, though widely accepted estimates based on the 1990 tax year suggest between 16 and 20 percent of eligible families fail to claim the credit. Given the value of the credit, it is important to remind low-income families that it is a big reason why they should file a tax return.

Source: Chrisitian Science Monitor