politics

How the End of Net Neutrality Could Impact Your Wallet

Toni Husbands — Thu, 04 Jan 2018 10:00:06 +0000

The net neutrality debate has been dominating headlines for some time now. A lot of people have trouble understanding all the fuss from either side of the political spectrum.

First of all, net neutrality is the idea that internet service providers have to treat all network traffic the same — a bit is a bit, no matter where it started and where it ends up. This means that providers can't offer various levels of service for various kinds of traffic. Whether it's from Netflix or your neighborhood bird-watching blog, ISPs have to treat the traffic equally.

Opponents of net neutrality tend to be telecommunications giants who saw the additional regulations imposed by the Federal Communications Commission (FCC) and the implementation of the 2015 Open Internet Order as problematic. Proponents of the net neutrality rules including Google, Facebook, and Netflix largely supported those rules.

But how did we even get to this debate?

How net neutrality came to be

In 2007, Comcast was told to stop blocking traffic from a file sharing service, BitTorrent. The FCC stepped in and accused Comcast of unfair business practices. Comcast sued, claiming the FCC didn't have the proper authority. Fast forward three years, and the courts agreed with Comcast.

Back then, Comcast was accused of throttling traffic between person-to-person file-sharing services on their networks. Comcast explained that they were clamping down on the spread of pirated material. Some online communities were outraged, but the government didn't have the authority to make them stop. Comcast was free to operate as they saw fit.

In another example, in 2012, AT&T stopped iPhone users from making FaceTime calls unless they purchased a new shared data plan package. Customers with older data plans were out of luck. AT&T claimed the video calling app would cause congestion on its networks. Opponents accused AT&T of disrupting a service that would compete with their primary business — making phone calls.

In 2015, new FCC commissioners and the Obama administration found a way to wrangle the authority needed by the FCC to weigh in when they felt broadband companies weren't using their power fairly. Thus net neutrality was born.

As you know, 2016 ushered in a new Trump administration. With that, new FCC commissioners recently voted to put an end to the Order of Open Internet. Net neutrality has been relegated to the history books.

Central to this debate is whether an internet service provider, or broadband company, should be treated as a public utility. If you agree, you believe it should be regulated by the FCC and forced to comply with rules aimed to ensure fairness. If you don't, you're in favor of letting the markets (i.e. consumers) decide and vote with their dollars, and were probably happy to see net neutrality go.

I tend to think most of us are in the camp that wonders how these rules, regardless of which side of the argument you're on, will impact our lives personally.

How the end of net neutrality may affect your wallet

As with most things in the news, I often wonder how this will affect my life.

The impact these changes will have may not be known for some time. If the FCC's long, storied history is any indication, these rulings will be challenged in court and the final outcome won't be settled for years. Public Knowledge and the National Hispanic Media Coalition, along with other public interest groups, have already announced plans to challenge the net neutrality changes in court.

For now, we must rely on the experts to understand how the rule changes may impact our wallets. Some are predicting that broadband companies could limit access to certain content providers unless you pay for higher tier services. This means that you have a choice; do without high-speed access to your Game of Thrones weekly fix, or upgrade to a higher-priced internet package.

We could also see higher costs passed on to us as content providers like Netflix try to ensure their customers retain the same level of access and enjoyment.

If experts in favor of the changes are right, fewer regulations will encourage competition and that could bring the prices down while encouraging innovation.

At this point, we're best served by keeping an eye on our expenses. If prices begin to rise to a point where your wallet is screaming uncle, shop around for alternative sources to supply your connection to the internet. And keep paying attention to how these changes may impact your wallet long after the debate has faded from the headlines.

One thing is for sure: This issue is far from settled.

Like this article? Pin it!

This article is from Toni Husbands of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

9 Things to Know Before Retiring Abroad

Nick Wharton — Mon, 11 Sep 2017 08:30:05 +0000

For an increasing number of Americans, moving abroad to enjoy retirement is an enticing idea. There are lots of reasons that lead people to make this choice, including better weather, cheaper health care, and an increased standard of living at a lower cost. But it's not a decision to be taken lightly. There are a number of important considerations that retirees sometimes overlook. Here are nine things you must know before retiring abroad. (See also: 5 Countries Where You Can Retire for $1,000 a Month)

1. U.S. tax laws are still applicable

Some retirees are under the impression that if you skip the country, the IRS somehow magically stops requiring you to file your income taxes. However, regardless of where you decide to live in the world, if you remain a U.S. citizen, your worldwide income is subject to U.S. taxes. Failing to pay your taxes is a serious offense with sometimes dire consequences that aren't worth risking, and ignorance is not a mitigating factor. (See also: Don't Let These Expenses Spoil Your Retirement Abroad)

If you are a U.S. citizen or green card holder who lives outside of the U.S. for 330 days during any period of 12 consecutive months, you may be able to apply for the Foreign Earned Income Exclusion. This allows you to exclude from your taxable income a certain amount of income that you earn abroad. The exclusion amount changes each year as it adjusts for inflation. For 2017, the amount is $102,100.

So, if you live abroad for 330 or more days in 2017 and earn under $102,100, you may not have to pay taxes. This exemption is not automatic and you must apply for the exclusion. Check the IRS website for more details. Keep in mind that even if you don't owe any money, if you meet certain income and status requirements, you are still required to file a U.S. tax return every year.

In addition to U.S. taxes, you'll need to find out if you're subject to taxes in the country you move to. Check with local tax authorities to learn more. (See also: 5 Countries That Welcome American Retirees)

2. Medicare doesn't cover you outside the U.S.

The first thing to be aware of is that, except in rare instances, any medical expenses you incur when you're not in the United States cannot be paid for with Medicare. That said, it may still be worthwhile to sign up for Medicare Part A (hospital coverage) because it is free. If you plan to move back to the U.S. or make frequent trips back, it may also be worth paying the premium for Medicare Part B, which covers doctor visits and outpatient care. To determine whether this will be of benefit to you, you should thoroughly check the information provided on the Medicare website.

Keep in mind that health care is often much less expensive in other countries. Mexico, for example, is more than 50 percent cheaper for doctor visits, prescription drugs, and health insurance. (See also: How Almost Anyone Can Afford to Retire in Mexico)

3. Currency fluctuations may affect your bank balance

Even if your monthly income remains the same, the amount that this translates to in your local currency may go down. This is entirely dependent on the strength of the U.S. dollar at any given time, which could have a large impact on your finances, particularly if you're on a fixed income.

Remember, however, that this could also work in your favor if the dollar strengthens against your local currency, allowing you to purchase more of the local currency. Though you can't control currency fluctuations, you should have a contingency in place for if and when they do happen. (See also: Retire for Half the Cost in These 5 Countries)

4. You can probably get Social Security — and maybe more

You can still receive Social Security payments in most countries around the world but it's important to check the list of excluded countries before settling on a location. If you've lived and worked abroad for part of your career, you may also be able to combine retirement credits from the U.S. and another country where you worked, for a larger benefits payout. The other country must be among more than two dozen that has a reciprocal agreement with the U.S.

5. You need to put a plan in place for when you die

There are two main considerations for putting a plan in place for the event that you pass away while you're abroad. First, you should know that the U.S. State Department will not pay for the return of your remains or ashes. Second, different countries have different regulations around what happens to your assets.

You need to have funds in place if your wish is to have your remains repatriated to the U.S., as this can be a costly and time consuming process. You should make yourself familiar with local succession rules, as some countries won't automatically honor your wishes for assets that lie within them unless you have an eligible will.

6. You can probably still vote in the U.S.

Just because you no longer live in the U.S. doesn't mean you don't take an interest in the U.S. political situation. In the vast majority of circumstances you are still eligible to vote absentee in federal primary and general elections. In some states, you're even able to vote for state and local office candidates and referendums.

You will need to submit a new Federal Post Card Application each year in order to qualify, and you should do so at least 45 days before an election. But from there it's a simple process. You'll be able to submit your vote either by mail or electronically depending on where you're registered.

7. You might not like it

Unfortunately, the reality doesn't live up to the dream for some retirees relocating abroad. There are so many factors to consider that it's almost certain that issues will arise that you've not even thought about, from financial problems to culture shock.

It's best to try a place out for a while before taking the plunge and relocating your whole life. Even if it's a location you know well from having visited over the years, residing somewhere permanently is different from vacationing there. Just bear in mind that it may not work out as you hoped.

8. Relocation can be extremely expensive

When it comes to calculating just how much it's going to cost you to live in a foreign country, it's important to include relocation costs. Shipping possessions like furniture can be costly, but not transporting them may also be expensive if you have to buy new items when you arrive.

If you have pets there may be vaccinations and quarantine periods that you have to shell out for, as well as separate transport costs. In addition, your own visa application could be expensive and complicated depending on the location. Look out for those hidden costs.

9. Things will be different

It's stating the obvious, but no matter how familiar the country is that you're retiring to, things will be different from the U.S. Everything from the local customs, to what groceries you can get in the supermarket will be new.

You'll more than likely be away from close friends and family and there will probably be a sharp adjustment period. It's important not to underestimate the effects this could have on your happiness when making what will be one of the most significant decisions of your life.

Like this article? Pin it!

This article is from Nick Wharton of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Are We Headed Toward a Bull or Bear Market?

Tim Lemke — Mon, 15 May 2017 08:00:09 +0000

The stock market has been on a roll over the last year. Since the winter of 2016, investors have enjoyed a delightful bull market that has seen the S&P 500 index rise by more than 25 percent.

Whenever there is a lengthy run-up like this, investors always want to know how long it can last. Are we due for a big correction or even a record-breaking crash? Or will we see the markets continue to rise?

Trying to time the market's movement is a fool's game, but it's always smart to look at the various indicators that may foreshadow future performance. With the current market, there is evidence to back up both bullish and bearish predictions.

Indicators of a bull market

The good times won't end anytime soon.

Most economic indicators are strong

For the most part, the American economy is stable. Unemployment is at its lowest point in a decade. Inflation is not out of hand. Manufacturing output is up, along with consumer confidence. There are some concerns about overall growth and productivity, but nothing that spells immediate doom for American investors at this point. Generally speaking, if the underlying foundations of the economy are sound, a sudden drop in stock prices is unlikely.

Interest rates are still historically low

We've seen interest rates creep up a bit, but they are still very low by historical standards. If you're placing money in a bank account, don't expect to receive much in the way of income. Bond yields are also very low. Thus, there's a good chance we'll see people continue to invest in stocks, as they have recently offered much better returns than most other options. As long as interest rates remain low, demand for stocks will be high.

Technical analysis supports it

Many analysts and financial planners prefer to examine a technical analysis of the stock market's performance, which looks at long-term trends that have historically repeated themselves. Most observers of these trends believe we are halfway through a growth cycle that began around 2010 and will continue another five to 10 years.

Corporate earnings are good

The stock market has been known to take a dive when stock prices are high, based on the underlying earnings of companies. In other words, when stocks are overvalued, the market will eventually find out, and you'll see a big correction. Recent earnings reports suggest that the stock market growth is justified. Earnings reports for the first quarter of 2017 look to be among the best in more than five years, so there's no indication that stocks are generally overvalued as a whole.

Lawmakers are pushing pro-business policies

President Trump was elected in part because of promises to lower corporate taxes and reduce business regulations, and he has the majority support of Congress. These are policies that are generally favored by the business community, and investors have responded positively. As long as businesses remain optimistic about policy changes, the stock market will be propped up.

Indicators of a bear market

On the other hand, maybe the good times are about to end.

Companies are heavily leveraged

U.S. companies have more debt than ever, and a lot of it comes due in the next few years. Moody's Investors Services estimated that a record $2 trillion corporate debt will come due between now and 2021, and warned that the market's ability to absorb all of these maturities is "below average." Few analysts are predicting a massive wave of corporate bankruptcies, but an inability to refinance debt could curb corporate profits and cause stock prices to fall.

There's a possible epidemic of auto loan defaults

When the stock market last suffered a big crash in 2008, it was largely due to a flurry of defaults on mortgage loans. Many Americans obtained home loans that they ultimately could not afford, and ended up in foreclosure when home values dropped.

These days, it appears that there may be a similar concern facing the quantity and quality of auto loans. It may not be as big a crisis as the housing bubble, but Americans ended 2016 with a record $1.2 trillion in auto loan debt, an increase of 9 percent from the previous year. Nearly one-fourth of these outstanding auto loans are considered subprime, and the delinquency rate from these loans is at its highest in seven years. This doesn't pose the same systemic risk as the mortgage crisis, but the auto industry is a key part of the American economy.

Europe is facing uncertainty

The United Kingdom is in the process of leaving the EU. There are rumors that other countries (France?) may follow suit. There are lingering concerns over terror attacks in the region. On one hand, economic trouble in the EU may benefit U.S. companies, but many American firms operate in Europe and are impacted by geopolitical uncertainty anywhere.

Political concerns

President Trump and members of Congress have been pushing pro-business policies, but eventually, they will have to deliver the goods. Their struggles in passing a repeal of the Affordable Care Act has been viewed as a sign that they may not have the wherewithal to accomplish big things, such as tax reform. A failure to follow through on any of these major promises could eventually cause a pullback in the markets.

This article is from Tim Lemke of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

6 Conversation Tricks That'll Get You Out of a Political Discussion

Amanda Meadows — Tue, 09 May 2017 08:00:08 +0000

Between election fallout, constant political news, and the occasional public controversy highlighting our country's ongoing crawl toward social justice, it's hard to keep quiet. At the same time, just because people are shouting doesn't mean you should, too. There is a way for you to engage smarter, especially when you know how and when to leave a conversation altogether. Here are six conversation hacks that'll save you from a political battle. (See also: 4 Financial Reasons to Keep Your Political Views Private)

1. Excuse (or recuse) yourself

There will be times when you are too close to the topic to see crystal clear. Let's say someone tells you that the Congressperson you voted for has duped you. No one wants to feel like a rube, so naturally, you would want to argue why that is not the case. Stop, and take a deep breath. People say, "a hit dog will holler," but if you don't holler at all, you've withheld the thing that person wanted: the satisfaction of getting a rise out of you. By ignoring the prompt to engage, there will be an unbearable awkward silence, and someone will change the subject.

What you can say

"Hey, as a [blank], I think you know what I think about [topic]. I'd love if we could talk about something on which we agree and enjoy our time together."

"If your goal is to convince me that you're right about [topic], that's not going to happen today. I'd appreciate if you respected my views."

"I'm a little too close to this subject to fight fairly on this one, so maybe we can just exchange some articles online and consider each other's views privately?"

2. Find the source and de-escalate

Figure out why the fight is taking place. Is this a repeat of another previous argument on a hot-button issue? If so, then whoever initiated must not have felt heard the first time. Acknowledge that and work toward a goal together. Is this fight about basic facts that can be proven? Remember that facts matter. If the person you're speaking with does not have evidence to back up their claims, this argument will go nowhere. Does someone just want to feel more informed than you? That's an arms race that will only lead to a damaged relationship. Give them the opportunity to share their information and thank them. Understand where the other person is coming from and take a moment to go back to the start and make a common goal.

What you can say

"I'm glad to know where you stand on this, but is there a reason why you chose to talk about this now?"

"I understand what you mean, because we have talked about this issue before. Is there something new you want to add?"

"I know we both want to have civil discussion about this, but we might feel better if we first establish what we agree on and go from there."

3. Pump the brakes at hate speech

Arguments can get heated, and in a tense moment, someone might express some ugly thoughts. No one likes confrontation, but it's hard to avoid if you are the victim of or a bystander to hate speech. Usually someone who spouts hate thinks they will get away with it because everyone must agree with them — or are afraid to disagree. Politely speak up, which might prevent this in the future. Then, comfort any possible victims in the room however you can. Everyone else in the room will be glad you did.

What you can say

"Party foul! What did you just say about [blank]?"

"No, that is actually not true and I'm really saddened to hear you say that."

"Is that something you really believe? I thought you knew better."

To victims: "Excuse me, I saw/heard what happened and I'm very sorry you had to endure that. What can I do to help?"

4. Know when to flee

Is someone exploiting an opportunity to turn a friendly discussion about current events into a dramatic inferno of rage? Perhaps someone you know likes to make controversy and is looking for a way into a fight. Don't let argument hobbyists push your buttons. Take a breath, then make a decision: Do you want to engage on this, or would you rather flee the scene? Don't forget that you do have that choice.

What you can say

"I'd love to focus on [original topic at hand]. I'm not interested in arguing with you."

"I hear what you're saying, but I can't have this discussion right now."

"Hey, I'm just here to [whatever you were doing]. Sorry."

5. Don't be a Devil's Advocate

Are you ever in a conversation where most people agree, then someone goes, "Well, just to play Devil's Advocate here...." and everyone's eyes roll? Don't be this guy. Arguing the point opposite of the person in front of you for its own sake is not only insincere, but it can be needlessly cruel in certain circumstances. Read the room, take stock of who's listening, and ask yourself whether this argument is warranted. If someone is doing this to you, there's no reason to argue back unless you wish to do so.

What you can say

"Is this how you actually feel? If not, why would you make this argument?"

"I'm pretty clear on the opposing arguments on this, thank you."

"Please don't insult my intelligence by assuming I don't understand the other point of view."

6. Don't abuse your power

If you're the senior manager, the older sibling, the parent, or any other position in which you may have some power over the others in the room, please acknowledge that position before things get heated. Regardless of your politics, telling others what to think makes you a bully. Bullying family members and coworkers will ultimately cause you to lose the respect of the very people from whom you desire it. Use your power to lead the discussion with wisdom.

What you can say

"I hope you know that while I am your [blank], I do not expect you to agree with me."

"It's none of my business what you believe, unless you think it is relevant to share with me."

"I'd love to keep this conversation free of opinion and speculation, please. We all want to respect each other after this, don't we?"

This article is from Amanda Meadows of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

4 Ways Your Money Can Support Your Values

Emily Guy Birken — Tue, 25 Apr 2017 08:30:08 +0000

Giving to charity is an important line item in my family budget — but it's only one line. There are far more charitable organizations that I want to support than I can possibly give money to.

But what if there were a way to support your values without having to free up more money to give to charity? In fact, there is a way. You can do the same things you always do with your money — bank it, invest it, spend it on utilities, and shop — all while providing important financial benefits to the causes you care about.

Socially responsible robo-investing

I'll never forget the stricken look on my financial adviser's face when I told him I was uncomfortable with big oil, tobacco, or firearms as investments in my retirement portfolio. He took a deep breath and told me that I would probably have to be a little flexible about that if I wanted to maintain my passive investment strategy. The only other option would be to individually choose the investments I wanted so that my money was aligned with my values. Not only would that be expensive and time consuming (someone would have to do the stock picking), but it would not necessarily grow my money.

Passive investors like me now have the option of investing in funds that only go to companies we approve of. The new robo adviser OpenInvest offers investors the ability to personalize the specific issues they care most about. You simply create an "issue profile" that narrows down the types of companies you would either like to invest in or steer clear of. The robo adviser's algorithm then creates a basket of about 60 stocks that match your values and should match the returns of the broader market.

Your money grows just like it would with any investment, but you are supporting companies that reflect your values. (See also: 5 Stocks to Buy If You Love the Earth)

Cellphone activism

It's hard to imagine life without your cellphone — which makes it an excellent tool to help support your values. Simply changing your cellphone provider can make paying your bill part of your activism.

Whether your politics align left or right, you can switch to an activist cellphone carrier that will use a portion of their profits to fund important causes. Credo Mobile is a mobile and long distance provider that has donated $83 million to various progressive nonprofit groups since its inception in 1985. On the right, Patriot Mobile offers conservatives the opportunity to choose the organization that a portion of their monthly phone bill will be donated to.

In both cases, the mobile carrier allows you to keep your phone and phone number when you make the switch. You are already paying for your cellphone usage; why not have the money fund causes you care about?

Shop your values

Amazon has become the most convenient way to handle shopping in the modern age, but did you know it can also be the most convenient way for you to donate to charities you love?

AmazonSmile is exactly like the Amazon store you already know, with the exact same prices and fees, and the exact same login you already use. But when you sign on with AmazonSmile, you are allowed to choose any one of over a million 501(c)(3) charitable organizations to benefit from your shopping. Each time you make a purchase, AmazonSmile gives 0.5 percent of the purchase price to your charity.

While not all purchases are eligible for AmazonSmile, the vast majority are. In addition, there are occasionally limited-time special promotions that increase the donation percentage.

Once you have signed up with AmazonSmile, just make sure you start any Amazon shopping from that page to keep your donations going to your favorite charity whenever you shop.

#BankBlack revitalizes communities

You might remember seeing the rapper Killer Mike on MTV in 2016 asking 1 million people to open a savings account with a black-owned banking institution. That helped start the #BankBlack movement, which is credited with bringing $50 million in new deposits to black-owned banks over a six-month span in 2016, according to the Huffington Post.

But banking with a black-owned financial institution is more than just a hashtag. These institutions were once the only places where African Americans could expect fair treatment when discrimination was rampant in the banking industry. Nowadays, black-owned banks offer access to necessary banking services in distressed neighborhoods, while also providing economic revitalization.

Since black-owned banks specifically market to the African American communities that are disproportionately unbanked or underbanked — meaning they rely on check cashing services and pawnshops for their banking needs — opening an account with a black-owned bank is an excellent way to put your money to work for social justice.

The Blackout Coalition offers a map of black-owned banks and credit unions across the United States, so you can find one near you. Alternatively, if you are not in an area with a local black-owned bank, OneUnited is an online bank that is also the nation's largest black-owned bank.

Put your money where your values are

Not everyone has money in the budget to support the social programs they are most passionate about. But making a few tweaks to how you bank, invest, call, and shop will allow you to make the world a better place without spending any more money. You'll feel good about how your money represents your values, and your favorite causes will benefit from your choices. It's a win-win.

Like this article? Pin it!

This article is from Emily Guy Birken of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

10 Unprofessional Habits That Could Kill Your Career

Kentin Waits — Fri, 14 Apr 2017 09:00:09 +0000

If you're like most people, you've put a lot of time, energy, and money into your career. And you know that getting ahead in that career takes conscious (sometimes herculean) effort. With all you've invested, don't let a few bad habits drag you down the corporate ladder. Here are 10 unprofessional habits that could kill your career.

1. Ignoring the finer points of email

Sure, it's quick and casual, but electronic communication comes with its own set of rules. Crafting long-winded emails, not responding to messages in a timely fashion, typing in all caps, and forgetting to include fundamentals — like a personal salutation, or a please and a thank you — are all email no-no's. (See also: 10 Things You Should Never Say in a Work Email)

2. Using grade school grammar

In speech or in writing, stupid grammar mistakes can make you look uneducated and hurt your professional prospects. Polish your image by reviewing the fundamentals of good grammar, becoming more aware of how you communicate, and proofreading every word you write.

3. Dressing for a demotion

Though most work environments are casual these days, that doesn't mean anything goes. If you're confusing business casual with clubwear, wearing wrinkled shirts and slacks, and letting your pant cuffs drag on the floor, you're dressing for a demotion. Pay attention to wardrobe fundamentals like condition, fit, cleanliness, seasonality, and suitability. (See also: Build a Work Wardrobe for Any Job on a Budget)

4. Constant questioning

Asking questions is smart up to a point, but cross that invisible line and you become a drain on management. When given a new assignment or a different set of responsibilities, get all the information you can up front and then show your initiative by figuring out the rest as you go along.

5. Always being late

Arriving chronically late to work or meetings shows a disregard for your professional commitments, your coworkers' time, and your job in general. Protect your professional image by being punctual, or even better, showing up a few minutes early.

6. Taking sides in office politics

Nearly every workplace suffers from a bit of office politics. Choosing sides carries two risks: First, it takes your eye off the most crucial aspects of your job — performing well, learning all you can, and moving up. Second, you could simply align yourself with the wrong (that is, losing) side and suffer the direct or indirect consequences. Stay employed by diligently avoiding office politics goofs.

7. Displaying terrible table manners

Client dinners, lunch meetings, and all-day networking events are part of modern work life and opportunities to showcase your professional refinement. If your eating style is reminiscent of a bear fresh out of hibernation, it might be time to brush up on the basics of good table manners. (See also: 13 Things People With Good Table Manners Never Do)

8. Swearing like a sailor

No offense to professional sailors, but swearing in most work settings is a career-limiting communication habit. Even if it's the norm where you work, using profanity shows that you're not articulate enough to come up with more acceptable language. It may also make you appear quick to anger and unable to work through challenges constructively.

9. Bringin' the drama

How do you make tear-filled stories of sudden breakups, unfair arrests, and credit card problems even worse? You share those stories on the job and get fired. Constantly bringing personal issues into the workplace implies a problem with boundaries and a lack of professional focus. Save the drama for close friends and only discuss it outside of work.

10. Proselytizing

Proselytizing is just a fancy word for promoting a particular belief or attempting to convert people from one religion to another. Living your faith is one thing, but pushing it at work is quite another. Belief systems are intensely personal — the result of life experience, cultural influences, and long family histories. Don't alienate your coworkers or risk your job by making your personal faith a professional matter.

This article is from Kentin Waits of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

5 Unexpected Costs of Political Activism

Paul Michael — Mon, 20 Mar 2017 11:00:15 +0000

Protests are breaking out all over the U.S. these days. For frustrated Americans, taking part in a peaceful demonstration can help restore a sense of personal control. And protesting works. Not always, and sometimes not to the degree that people wish, but history is full of examples of how public movements have brought real and positive change.

If you're thinking of joining a protest, it helps to understand just what the personal repercussions might be. Not that you should always let fear rule out over conscience. But consider these unexpected costs of activism, so you know exactly what you're getting yourself into.

1. You can jeopardize your career

You have every right to protest whatever you want. It's what makes America, and many other civilized countries, great. However, just because it's your right doesn't mean your current or future employer will look favorably upon your decision to speak out. Employers may not agree with your political stance.

Even if they do, they may worry clients or the public will look down on it. And with smartphones and social media a staple of society, chances are, you'll be caught on camera. If you are in any kind of position that is public-facing, be it a teacher, a lawyer, or a public relations manager, you could be on shaky ground.

Almost all U.S. states are "at-will employment" states, meaning employers can terminate you for any reason and without warning. Unless there are state laws, or company or union policies in place that specifically protect you, you could be fired for engaging in lawful political activity. (See also: 4 Financial Reasons to Keep Your Political Views Private)

2. You may need to take time off work

Protesting is usually not convenient. It is frequently centered around an event or day that has meaning, and that means it will often fall on a work day. For those of us who have jobs that are flexible with hours — or allow vacation and personal days for such things — no problem.

But you may not have that luxury. Can you afford to take a day off without pay? Can you afford for that to become two, three, or four days without pay if the protest continues to gain momentum? Some people maintain that the monetary cost is nothing compared to the moral cost of staying silent, but remember, that noble reason will not fly with the bank when the mortgage is overdue.

3. Your protest may put you in the spotlight

Protests can turn a relatively unknown issue into something that everyone is talking about. That's good in that it leads to a greater chance for change.

Just make sure you're prepared to have the spotlight turned on you personally as well, even if it's only within your circle of friends and acquaintances. The 2016 election left the country more divided than any time in recent memory, so once you make your stance known, you will most likely be met with tension from the other side. Ask any outspoken person with a large following on Twitter, and they'll tell you how often their political opinions are met with threats. Not that you should let fear of internet trolls keep you from defending the greater good, but it is something to be aware of.

4. You could get arrested … or worse

Peaceful protests don't always stay that way. When two sides come together with vastly opposing views, tempers flare. When authorities are dispatched to keep the peace, it can be the start of unrest, which can turn violent.

Hopefully, you will be involved in a peaceful protest that makes its point without leading to chaos or physical harm. But this is not an ideal world. There may be fights. You might be arrested because of a simple miscommunication, intentional abuse of police power, or just for being in the wrong place at the wrong time. You may even be injured, perhaps severely. Many people believe these risks are worth taking, but if you have a family that depends on you, think twice.

5. You could fall out with family and friends

Polarizing opinions can be fatal for friendships and family dynamics. A recent news article told the story of how a 22-year marriage ended over the election of Donald Trump.

Attending a protest for anything could cause disruptions in your relationships, leading to arguments and irreparably hurt feelings. While it is important to have your own opinions, voicing them publicly can have consequences. Just make sure you are prepared for the fallout.

No matter which side your political views align with, you probably will never regret fighting for what you believe in. And fear of anything listed above certainly is not a reason to avoid political activism entirely. Just know what you're up against going in, so you're ready if any of these repercussions do begin to surface.

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 World Currencies That Took a Hit in 2016

Tim Lemke — Tue, 17 Jan 2017 11:00:10 +0000

It's been a tough stretch recently for global currencies. Economic uncertainty, political shake-ups, and other world events have sent the value of currencies down sharply over the past year in many countries. Moreover, the decision of some nations to float their currency on the foreign exchange market has had troublesome results. Currencies in South America have been hit especially hard, but others in Europe and Africa haven't been immune to weakening.

Here are eight currencies that dove in 2016.

1. British Pound

Thanks, Brexit! The UK's vote to leave the European Union stunned the world and sent the pound plunging over fear of the move's impact on the British and global economy. Right now, the British pound equals about $1.23 U.S., or nearly 20% less since June, 2016. The pound was worth $1.50 right before the Brexit vote. It dropped nearly 15% immediately and kept declining before rebounding slightly at the end of 2016.

2. Mexican Peso

In the spring of 2016, one U.S. dollar was worth about 17 pesos, but the value of the Mexican currency has been tumbling ever since. The anti-immigration and anti-trade message coming from Donald Trump during the presidential campaign led to a weakening of the peso, and Trump's election in November made matters worse. The dollar/peso trade is now above 21, marking a 23% decline in value for the peso.

3. Venezuelan Bolivar

The Venezuelan economy is a mess, with massive inflation, shortages of food and medicine, and general mismanagement. This has led to a collapse of the nation's currency, with the value dropping by more than 36% in late March of last year. But accurate data from Venezuela is so hard to come by that the actual value of currency is anyone's guess.

4. Argentine Peso

Argentina's currency began falling right at the start of 2016, then rebounded in the summer before enduring a long decline since. The U.S. dollar is now worth about 16 pesos. That means the value of the peso is down about 17% since this time in 2016. This drop is largely blamed on the decision to begin floating the currency on the foreign exchange market. The move was supposed to encourage foreign investment, but that has yet to bear out, and the currency has taken a hit as a result.

5. Turkish Lira

National security fears and inflation have hammered Turkey's currency, which hit a new all-time low in early January. The currency began tumbling last spring, and is now off more than 23% since a peak in April. Interest rate hikes in the U.S. have created additional pressure; it now takes about four lira to equal a U.S. dollar.

6. Egyptian Pound

Egypt's currency tumbled in October, after the nation's government announced it would free float its currency. The Egyptian pound's 45% loss in a single day is believed to be a record. The pound had been trading at an 8:1 ratio to the U.S. dollar, but now it takes 18 pounds to make a dollar. Observers say that in the long run, a weaker currency could boost exports and tourism, but there is concern about inflation in the short term.

7. Nigerian Naira

Nigeria also free-floated its currency in 2016 in an effort to lure investment, and results were not quite as bad as in Egypt. After being pegged to the dollar for more than a year, the naira dropped 30% in a day in June. One U.S. dollar is now worth about 315 naira, compared to 199 naira before the slide. To make matters worse, a decline in the value of oil has not helped the currency for this OPEC nation.

8. Euro

General concern about the European economy has depressed the value of the currency used by more than 330 million people on the continent each day. One euro is now worth about $1.05 U.S. It had been trading above $1.15 before enduring a long, slow decline over the second half of 2016.

This article is from Tim Lemke of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Will Your Brand Boycott Actually Make a Difference?

Dan Rafter — Mon, 12 Dec 2016 10:30:24 +0000

Interest rates aren't the only thing on the rise after Donald Trump's election night win. Threats of product boycotts are soaring, too.

Breitbart News, for example, is encouraging its readers to boycott Kellogg's after the cereal maker pulled advertising from the conservative site. Supporters of the incoming president also threatened a boycott of Pepsi after mistakenly believing that the company's chief executive officer said that Trump supporters should take their business elsewhere.

Opponents of Trump have threatened their own boycott of shoemaker New Balance after its vice president of public affairs told The Wall Street Journal that the company's officials believe that "things are going to move in the right direction" after the businessman's election. The comment actually referred to the debate over the Trans Pacific Partnership trade agreement, but many in the anti-Trump camp thought the shoemaker was tossing out a "support Trump" message.

Will any of these boycotts work? Will enough consumers stop buying Cornflakes or Diet Pepsi to actually hurt the companies making them?

And if you stop buying these products, will you make a difference?

The Struggle to Make an Impact

Consumers have vowed to boycott plenty of products. But only a small number of these boycotts actually work. Those that do succeed, according to a story by the Harvard Business Review, are highly strategic and have clear goals. They want to force a company into a specific concession, such as eliminating a controversial ad campaign or removing a potentially harmful ingredient from their products. But boycotts that simply call for consumers to stop buying a certain brand forever? Those rarely have a long-term impact.

Boycott's Long History

The word boycott as a form of shunning actually came into being way back in 1880 in County Mayo, Ireland. Back then, Captain Charles Boycott — a land agent working for an absentee landlord — threatened to evict 11 tenants from the land he managed when the landowner refused to reduce these tenants' rents by a high enough percentage after a particularly poor harvest.

The community took on an organized and effective campaign to shun Boycott, with local business owners refusing to trade with him and the postal worker even refusing to deliver his mail. That first boycott was effective. Many that have followed have not been.

The Guardian has reported that while boycotts might make an initial dent in a company's sales, they rarely impact these firms for the long haul. The Guardian pointed to the 2003 U.S. boycott of French wines. Many U.S. consumers were furious with France's refusal back then to support the war in Iraq. So they decided to stop buying products from the country, including its wines.

The boycott caused a quick 26% drop in sales of French wine in the United States. That sounds impressive — but the sales drop was a blip. The Guardian quotes Larry Chavis, a professor of entrepreneurship at the University of North Carolina at Chapel Hill, who said that sales returned to their normal trajectory just six months after the boycott began, meaning that the long-term effects of it were nil.

This is an example of the type of boycott that rarely works: one without a clear goal. French wine sellers had no power to change their country’s stance on the Iraq War. The boycott, then, had little chance of forcing a change in France's policy.

What's more effective is when boycotts ask for a specific change while at the same time attacking a company's brand through social media, traditional media appearances, and large protests. In such boycotts, the actual boycotting of a company's products might have little long-term impact on sales. But the negative public relations can hurt a brand's image enough so that the company eventually makes a change to appease protesters.

The Nike Example

The Guardian cites the boycott of shoemaker Nike in the 1990s as one of the most successful. Activists heavily criticized Nike for relying on child labor, and calls for a boycott did hurt the company's sales. But the real long-term impact came from the negative hits against the company's brand image. This has forced Nike to work hard ever since to rehabilitate its image, change its labor practices, and exert greater oversight over its shoe production.

There are plenty of boycotts going on right now, with Ethical Consumer currently listing more than 65 active boycotts. There are boycotts against ice cream maker Ben & Jerry's because of its contractual relationship with an Israeli franchise that sells ice cream in Israeli settlements in the occupied West Bank and East Jerusalem; an ongoing boycott against oil giant BP for the Deepwater Horizon spill in the Gulf of Mexico; and one against Chevron Texaco for allegedly dumping toxic waste in the Ecuadorean Amazon rain forest.

Will these boycotts accomplish their goals? The odds are against them. But there are always those boycotts that do make a difference.

Consider the recent boycott against Orlando amusement park SeaWorld. Animal welfare activists, including PETA and the Captive Animals' Protection Society, demanded that SeaWorld stop holding and displaying orca whales, saying that the captivity was harmful for these animals. In March of 2016, SeaWorld announced that it would end its orca breeding programs. The park said that it will also phase out its orca whale shows. Ethical Consumer has listed this boycott as one of the most successful.

Like this article? Pin it!

This article is from Dan Rafter of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

The Real Cost of Moving to Canada (If That's Your Post-Election Plan)

Dan Rafter — Fri, 14 Oct 2016 09:01:03 +0000

The odds are high that you don't like either Hillary Clinton or Donald Trump. According to an ABC News/Washington Post poll released in late August, 56% of U.S. adults viewed Hillary Clinton unfavorably. The same poll found that 63% said the same about Donald Trump.

No matter who wins the presidential election this November, a lot of people are going to be upset. You might even have heard people claiming that they'd flee to Canada if Trump — or Clinton — wins. Maybe you've even made this boast yourself.

But you might be surprised to learn that life can get costly over the border. Here is a quick look at what you'll pay when you flee to our neighbors to the north after Nov. 8.

Conversion Rate

First, a bit of good news. One U.S. dollar as of Oct. 6 was equal to $1.32 in Canada. So if you head north with $30,000, you'll have a bit more than $39,640 once you cross the U.S./Canadian border.

Taxes

Hate paying taxes in the United States? Well, you won't like it in Canada, either. The Fraser Institute think tank reported that the average Canadian family spent $34,154 in taxes in 2015. By comparison, NerdWallet in 2015 reported that the average American family paid about $14,000 in taxes. That figure, like the Canadian one, includes real estate, income, and sales taxes.

That difference looks less imposing when you factor in the U.S.-Canada currency conversion rate. In Canadian dollars, the average U.S. family in 2015 paid nearly $26,000 in taxes. That is still quite a bit lower than in Canada.

According to the Fraser Institute, the average Canadian bill for income taxes collected by governments in 2015 was $10,616, while payroll and health taxes came out to an average of $17,160.

Housing

Homes are expensive in Canada. The Real Estate Board of Greater Vancouver said that the average price of a single-family detached home in Vancouver rose to $1.58 million in September. That comes out to about $1.19 million in U.S. currency.

And Vancouver isn't the only expensive place to buy a home in Canada. The Toronto Real Estate Board said that the average selling price for all home types in Toronto came out to $710,410 in August (about $537,000 in U.S. dollars).

The average selling price for all Canadian homes sold in August of 2016 was $456,722, according to the Canadian Real Estate Association. That comes out to about $345,000 in U.S. currency. In comparison, the National Association of Realtors said that the average sales price for all homes sold in the United States in August was $240,200.

Renting an Apartment

So maybe you'll rent an apartment instead. That's pretty costly, too.

According to RentGorilla, the average rent for a one-bedroom apartment in Vancouver in September of 2016 came in at $2,445 a month, equal to about $1,850 in the United States. In Toronto, the average two-bedroom rent was $1,502 the same month, equal to $1,136 in the United States.

In Ottawa, the average two-bedroom rent was $1,235, while in Montreal it stood at $852. Those last two, by the way, are quite affordable, coming out to $934 and about $644 respectively in the United States.

Goods and Services

What about basic necessities, everything from a gallon of gas to a gallon of milk? You'll find that with the conversion factor, prices in Canada are similar to what you'd pay for the same items in the United States.

Consider a gallon of gasoline. According to the Expatistan Cost of Living Index, a liter of gas — which is equal to one quarter of a gallon — came out to $1.20 in Vancouver. That means a gallon of gas would cost an average of $4.80 in the city. That comes out to $3.63 in U.S. currency, a bit higher than what you'd pay at the pump in most U.S. cities today.

Two liters of Coca-Cola, though, come out to an average of $2.48 in Toronto, according to Expatistan. That comes out to $1.88 in U.S. money. A pair of jeans here costs an average of $68, or $51.46 in U.S. currency.

In Montreal, a 40-inch flat screen TV costs an average of $509, according to Expatistan. That comes out to about $385 in U.S. money, while a pair of athletic shoes sell for an average of $110 in Montreal, equal to about $83 in the United States.

Cost-of-Living Comparisons

Expatistan compiled its own cost-of-living comparisons between Canadian cities and several in the United States. As you'll see, if you live in higher-priced areas of the United States, you might actually find it cheaper to live in Canada.

For instance, the cost of living in Toronto is 9% cheaper than it is in Chicago, according to Expatistan. And it's 32% cheaper to live there than it is in New York City. On the other hand, Toronto's cost of living is 24% more expensive than it is in Omaha and 30% more than in Iowa City.

Expatistan estimates that it is 35% cheaper to live in Vancouver than it is San Francisco and 15% cheaper than Seattle. However, it is 15% more expensive to live in Vancouver than it is Wichita and 7% more expensive than living in Columbus. So much like the election, it's really up to you.

This article is from Dan Rafter of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

5 Things Millennials Can Learn About Saving Money From Gen-X

Mikey Rox — Fri, 19 Aug 2016 09:00:15 +0000

Millennials think they've got it all figured out — just ask one and they'll tell you. But while I'm an advocate of the so-called "Me Generation," allow me to freely admit we still have a few things to learn.

Recently, money-saving grocery app Ibotta conducted a three-year analysis on user shopping habits — they dove deep into 25-million-plus user receipts — and the findings were interesting. As it turns out, Millennials aren't as financially savvy as they think they are. In fact, they can still learn a thing or two from Gen-Xers, who seem to have the saving vs. spending game down pat. Here are some of the results.

1. Gen-X Shops Where They Get More Bang for Their Buck

According to Ibotta's study, Millennials shop most frequently at beauty/cosmetic stores, nutrition stores, movie theaters, convenience stores, and apparel stores. That tells us that Millennials value quality over cost, and they don't mind paying the price for it. Especially when you consider the places Millennials shop the least, including pharmacies, dollar stores, arts-and-crafts stores, footwear stores, and home improvement stores.

I have to admit, as someone who considers myself more Millennial than Gen-X (and I'm right on the cusp of both of these generations being born in 1981), I tend to shop at the places Millennials are least likely to be found. There are incredible savings at dollar stores and arts-and-crafts stores, in particular, and they're too good for me to pass up. Of course, I go to the movies a lot as well (I guess that's the Millennial in me), but you'll very rarely find me in beauty/cosmetics stores or nutrition stores when I know that I get anything I'd find there cheaper at places like Wal-Mart and Target — and I'm never too proud to shop at either of those establishments.

2. Gen-X Is Perfectly Happy Shopping at Traditional, Lower-Cost Grocery Stores

Millennials shop at natural grocery stores like Whole Foods and Trader Joe's about 56% more than non-Millennials, the Ibotta study reports. Which means that Millennial shoppers are not only trendy (or "health-conscious" if you want to be PC about it) in their food choices, but their grocery bills are likely much higher considering the steep prices of natural food markets.

Personally, I've never understood the appeal of "organic" food. I've been putting nonorganic foods in my body for 35 years, and I feel two ways about it: First, I'm A-okay, healthy as an ox. Second, the damage by preservative- and pesticide-packed foods has already been done; I hardly believe that switching to organic fruits and vegetables now will change whatever is going to happen to me down the road.

Plus, organic broccoli is the worst. I hate it, and you can't make me eat it.

On the flip side, Gen-Xers still shop at traditional grocery stores — and use coupons! — which we'll get into later.

3. Gen-X Values Their Own Hard-Earned Money More Than Making a Political Statement

I'm not at all surprised by this statistic: Millennials are 8% more likely to shop at Costco over Sam's Club. Moreover, they're 13.5% more likely than non-Millennials to shop at Costco.

I have a hunch as to why Millennials largely shun Sam's Club, and it has everything to do with being associated with Wal-Mart.

Now, I'm not someone who avoids Wal-Mart as a result of its labor practices or other political stances — I go where the savings are, just like Gen-Xers (yep, I'm fickle) — but it seems that there's an entire generation of consumers that look down on Wal-Mart as if it's subpar for whatever reason. (Although, one of those reasons might have to do with those unflattering "People of Wal-Mart" memes or the tramplings at Christmastime — who's to say, really?)

In any case, my assumption is especially valid when you consider that Millennials are 27% more likely to shop at Target than users in all other age groups.

I will contend that Target is much cleaner and more organized than most Wal-Marts I've been in, but I'm not boycotting a Wal-Mart or Sam's Club to make a political statement if at the end of the day my wallet comes out the winner. That's just common sense.

4. Gen-Xers Are Good at Making the Most of Mid-Level Consumer Goods

Millennials are brand loyalists through and through. Just look at the forever converts Apple has following its cult. The loyalty doesn't stop there, though. Whereas Gen-X is open to trying new brands, especially if they're lower priced or on sale, Millennials are willing to loosen the purse strings for established labels. When it comes to a brand like Sephora, in fact, Millennials are two times more likely to shop there than Gen X — and it ain't cheap.

But perhaps beauty vlogger Raye Boyce can change a few Millennial minds. She recently tested $600 worth of makeup on one side of her face and $60 in makeup on the other side. The results? Well, see if you can tell the difference in her video on makeup that could save you money.

5. Gen-X Clips a Good Coupon When They See It

I don't know if it's the stigma of using a coupon (maybe they feel "cheap" or embarrassed when they hand over a discount?), but Millennials are losing out on a lot of opportunity to save, which in turn is making their lifestyle way costlier than it needs to be.

The Ibotta study reveals that Millennials use 20% fewer coupons than Gen-X, and they take advantage of 7.5% fewer in-store discounts. Those numbers are crazy — especially the disparity in coupon use.

If you're a Millennial reading this right now, listen up: Your ego is making you broke, and it's time to come back down to earth.

I don't know how anybody can shop without coupons. This is coming from a guy who has and will continue to use coupons on dates (first dates even!). Because wherever I save means extra money for things I like to do, like enjoying new experiences or making investments that make me more money. That full-price pair of expensive shoes will only make you so happy — and that happiness will run right out when you're sitting in those shoes at home, broke and alone, on a Saturday night.

But at least then you'll have time to clip a few coupons with your shears… and probably a few tears.

Do you recognize yourself in any of these shopping stats and behaviors?

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

4 Financial Reasons to Keep Your Political Views Private

Paul Michael — Fri, 10 Jun 2016 10:00:14 +0000

We live in a world that makes it incredibly easy to share our views and opinions. Our phones are an instant connection to news outlets and social media sites, and the two can create a very polarizing look at the political horizon. With the Presidential election looming, it can be hard to bite your tongue. But if you don't, there are some financial risks that go along with freely spouting your political beliefs.

They Could Cost You a Job or Promotion

By far, the biggest impact political views can have on your life is work-related. Like it or not, your employer, boss, and clients can discover a lot about you through social media sites. Aside from making sure you don't appear as if you're doing anything inappropriate or illegal, you also have to be very careful about the political views you post or comment on.

One day, you could be raging against a new bill introduced by a Republican, or ranting about an act signed into law by a Democrat. The next thing you know, that big promotion you were gunning for at work has gone to someone else. Your political views should not have any bearing on the work you're doing (unless you are actually in politics), but people are people. It's quite possible your views will rub someone important the wrong way, and they will respond in the most effective way they know; they'll hit you in the wallet, or the career.

Perhaps the boss's wife works for a political party for which you have expressed extreme disdain. Maybe your CEO voted for Romney, and you have an Obama sticker on your car. It could even be as simple as liking a comment or story on Facebook that is in direct opposition to your employer's views. Yes, it's a free country, and yes, freedom of speech is one of the guiding principles of our nation. But do not underestimate the pettiness of regular people. If you are going to have opinions on political subjects, do not blast them far and wide. Talk them over with your friends and family. Keep your views away from anywhere that a boss or coworker can see, and worse, react to. You could even get fired or laid off, under the guise of a different reason.

They Could Cost You Customers

If you're a small business owner, you have to be very careful about the political views you take a stance on. And openly shouting about the things you believe in could cost you customers, income, and even your business. The news outlets have reported time and again about small business owners who have abjectly refused to back down from an opinion deeply-held by the political party they support.

Simply by having a sticker for either the Republican or Democratic party in the store window could be enough to scare away people with opposing political beliefs. You've just lost a sale; one that could very easily have happened if it were not for the announcement.

Online, a prospective client could do a quick search on your social activities, see a lot of blustering about certain political views, and choose someone else. Even if you're a freelancer doing writing, hair styling, or gardening, the kind of views you openly express can bite you, and that hits you in the wallet. Not only that, but word of mouth can spread, and suddenly you have not lost one customer, but five or six. Was the loss of income worth it to tell everyone something that was on your mind? Did it have to be said?

They Could Get You Sued

If you're a small business owner, or occasionally employ someone (even if it's just a guy who mows your lawn or cleans your windows), you have to be very careful about how you hire and fire people. Specific laws have been put in place to prevent employers from discriminating based on political beliefs. Not all states have these laws, but many do. And violating these laws could result in legal action.

For example, a boss could notice a lot of Republican paraphernalia adorning an employee's car. Maybe there are party line stickers on there, including pro-gun control and pro-life statements. This could enrage him or her, especially if these views are the polar opposite of what he or she believes. So, the boss has a word with HR, and the employee is terminated. That is a clear case for a lawsuit, and could cost the business owner not only a great deal of money, but perhaps the whole business. And what's more, the news could spread, meaning clients and partners decide to take their business elsewhere.

It's fine to have political views, but there are limits to the way you can act upon them. Even if you really, really hate the political opinions of an employee, you cannot terminate them just for that reason.

They Could Lead to a Costly Break-Up

This story comes from someone I used to work with. Christopher (not his real name) was known for being outspoken, especially on politics. He had very strong views, and was pro-life, pro-gun, anti-gay marriage, and hated big government. He was also engaged to be married, to someone who was of a similar mindset, but nowhere near as passionate or outspoken.

During the 2012 election cycle, his posts and rants on Facebook and other social media sites reached epic proportions. What he didn't know was that his fiancée's parents and siblings did not feel the same way about his views. They tolerated him, for the most part, until his rants crossed a line that triggered a family meeting. They did not want their daughter/sister marrying someone who was so politically opinionated.

Of course, the tension was too much to overcome, and they split up. It was not a cheap break-up (they rarely are). So be warned. If you are in a relationship with someone, and know your views will be a serious cause for concern for his or her family, keep them to yourself for as long as you can.

Have your political views ever cost you?

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Three reasons to stop freaking out about socialism

Andrea Karim — Wed, 29 Oct 2008 23:20:23 +0000

"Friends, now is no time to experiment with socialism. To me, our opponent’s plan sounds more like big government, which is the problem. Bigger government is not the solution. Whatever you call his tax plan and that redistribution of wealth, it will destroy jobs. It will hurt our economy.”

-Sarah Palin

Sarah Palin and John McCain are pulling out all the stops to prevent their Straighttalk Express from driving directly off a cliff. Among the recent allegations of treacherous wrong-doing by the Obama campaign is Obama's apparent desire to "spread the wealth around". Hyperbole meets hypocrisy in a rather desperate attempt to paint their opponent as an extreme leftist (please, let's be honest, there IS no extreme left in the United States), especially since John McCain supported the recent Treasury bailout bill that was intended to... spread the wealth around.

Yes, the old socialist tiger is being dusted off and trotted out again. Socialism - what a terrifying term! Let's look in the dictionary to see what monsters lurk beneath this horrible, horrible word:

so⋅cial⋅ism [soh-shuh-liz-uhm]

–noun 1. a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole. 2. procedure or practice in accordance with this theory. 3. (in Marxist theory) the stage following capitalism in the transition of a society to communism, characterized by the imperfect implementation of collectivist principles.

We're already socialist, kinda

The truth is, the United States government already spreads the wealth around. Most governments do. That's why we pay income taxes, and in return, enjoy government infrastructure such as paved freeways, postal service, Social Security (Medicaid/Medicare, if you qualify), Fannie Mae and Freddie Mac (sigh), and unemployment benefits. It's why we have a national forest service.

Hell, as Ron Way points out, public golf courses are technically socialist.

I'm not suggesting that these services are perfect, that our roads aren't in need of repair, or that the government operates with the efficiency of a well-oiled machine. And I do believe that it's fair to question whether government is always the best method for handling certain problems. I don't believe, like some do, that libertarianism is dead, because as long as Ayn Rand's books are still in print, there will be people who believe in putting the individual first. I do sincerely hope that we will reconsider deregulation in the future, especially since it seems that American financiers can never be trusted to earn an honest buck.

While the United States is technically a capitalist country, you'd struggle to find an example of a public service that is not funded, in some way or another, by tax dollars.*

We've had times in which our country was much MORE socialist. Take the New Deal, engineered and implemented by Franklin Delano Roosevelt at a time when our country was facing some very dire straights. You can argue, as many have, that FDR introduced socialism to the United States in a way that was palatable, as well as desperately needed. In fact, that's where Fannie Mae came from (as well as the FDIC, SEC, FHA, etc.).

If you don't think that socialism is a fairly weak force in the US, just look at labor unions. The very basis of many socialist economies, unions have never been so undermined and maligned in America as they are today.

John McCain's as big a commie as anyone else

I do believe, as John McCain apparently does, that there is a time and a place for a government to step in and fix things.

I don't necessarily know if this particular time in history is going to prove to be one of those appropriate moments for government intervention - like many Americans, I wasn't pleased with the $800 billion bailout bill that was handed to Henry Paulson, not to mention the political shenanigans that went into creating the bacon-laden bill to begin with.

Giving the banks a truckload of no-strings-attached Treasury money may or may not actually show us any returns in terms of normalized consumer lending anytime soon. All indications point to the banks holding the money to prevent their own implosion. In fact, John McCain may have a very good point when he responded to Mike Wallace in a now rather infamous interview:

WALLACE: But, Senator, you voted for the $700 billion bailout that's being used partially to nationalize American banks. Isn't that socialism?

MCCAIN: That is reacting to a crisis that's due to greed and excess in Washington. And what this administration is doing wrong, and what Paulson is doing wrong, is not going out and buying up home loan mortgages, home mortgages, and giving people new mortgages at the new value of their home so they can stay in their home. They're bailing out the banks. They're bailing out these institutions.

What McCain is talking about is nationalizing mortgages, which would be another socialist move. I actually don't disagree with the idea entirely, but then, I don't dislike socialism that much.

Palin, it is worth noting, is the governor of a state that pays people to populate it. Talk about spreading the wealth.

Many of our allies are MUCH more socialist than we are

Say what you will about the evils of Canada (and I will go on record saying that Canadians are pure, Molson-and-Tim-Horton's-filled evil), they seem to manage pulling of a mixture of socialism and capitalism with significantly less guilt than we Americans do. France and England, like Canada, have socialized medical systems, and say what you will about those French surrender monkeys, they have more pro-family government programs in place than the United States has ever enjoyed.

Sweden, often offered up as an example of the most egregious socialist state in the Western world, doesn't seem to be any worse for the wear. They're not experiencing USSR-style drabness of dress. Despite traditional McCarthyist claims, socialism is not actually related to totalitarianism, even though communist governments have historically trended in that direction.

What this means is that allowing the government to partially own certain industries or markets doesn't automatically strip you of your right to vote for your elected officials (we've got voter purges taking care of that right here in the US!).

Were our government not facing a monumental debt, two wars in the Middle East and Central Asia, and a looming trade deficit, I might be a stronger advocate of the federal goverment pouring non-existant dollars into failing industries; technically, I'm still on the fence about what direction I think the government should head in in order to stave off a much large crisis and recesssion. This crisis might settle down in the coming months with little intervention.

But if our economy does crash and burn, and we are facing another Depression - wouldn't that be exactly the time to start experiementing (again) with socialism?

*Removed a section from the article after a very astute reader pointed out that it was merely a rant against pork, and not pertinent to the argument that the US practices socialism of sorts through government sponsorship of social programs.

This article is from Andrea Karim of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Would you sell your vote?

Paul Michael — Tue, 02 Sep 2008 21:15:33 +0000

Being a humble Green Card holder, I don’t have a vote here in the US (makes me wonder about that old “no taxation without representation” line, but that’s another story). Anyway, as the election goes into overdrive, a question has started to bubble up inside my head. If the price was right, would you sell your vote?

It’s important to remember that voting is a right that many people didn’t have for the longest time. Here’s a very brief history of voting in the US, as listed on many sites including ActiVote America and InfoPlease :

1776 – Voting rights based on property ownership; white protestant males over 21.
1830 – Many states drop religion and property ownership as requirements.
1870 – African Americans given the right to vote.
1920 – Women given the right to vote.
1947 – All states finally grant Native Americans the right to vote.
1965 – Voting Rights Act bans use of literacy tests and poll taxes.
1971 – Voting age lowered to 18.

As Fatboy Slim once said, “we’ve come a long way baby.” People have campaigned, suffered and died for this right. Wars have been fought in the name of freedom and democracy. It seems like one hell of a privilege to give up. I know I miss my right to vote, especially as I have such strong political beliefs.

Not unlike Woody Harrelson’s character in “Indecent Proposal,” everyone has their price; (although I would rather sell my vote than do what he did). But in light of recent DieBold news, and an HBO documentary I saw last month called "Hacking Democracy," I have to wonder what has happened to that most precious gift that is your vote anyway.

As Engadget reported in August of this year, DieBold spokesman Chris Riggall explained that a "critical programming error that can cause votes to be dropped while being electronically transferred from memory cards to a central tallying point" has been part of the software for ten years. So, your precious vote may have been dropped from the system on multiple occasions.

And in “Hacking Democracy ” it’s unveiled that voting machines can be rigged, records can disappear and elections could indeed be miscounted by machines. The security of the electronic voting machines being used today is suspect to say the least, and this is not a partisan issue. Your vote is your vote, and if it’s not being counted, or it’s being manipulated for one party of the other, does it then open up the debate about selling your vote? If your vote is not as sacred as we once believed, is there less culpability involved in selling that vote?

If someone came up to you tomorrow and told you that you were in a swing state, and your vote was needed to ensure victory for one party, would you consider the offer? Would your vote be up for grabs?

It may be that you were going to vote for that party anyway. You may believe that one vote doesn’t actually make a difference. Or, you may just think the whole system is screwed anyway, so why not profit from it? And just what would your price be?

In these tough economic times, I’d be tempted if someone waved $5000 hard cash in front of me and asked me to vote a certain way (if, of course, I had a vote to sell). But as there’s no way to prove who you voted for anyway, would you then just give your word that you’d vote for one party, and then vote for the other anyway? Or would you just say no?

It may all seem like rhetoric, but it did actually make the news in July of this year. CNN reported that “University of Minnesota student Max P. Sanders, 19, was charged with a felony Thursday in Hennepin County District Court after allegedly asking for a minimum of $10 in exchange for voting for the bidder's preferred candidate.”

And this got Sanders into more than a little hot water; “Sanders was charged with one count of bribery, treating and soliciting under an 1893 state law that makes it a crime to offer to buy or sell a vote.” He tried, he failed, he says it was a joke. Maybe it was, but it still leaves the question hanging in the air…would YOU sell your vote, and if so, what would your price be? Over to you.

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

The Gas Tax Holiday; don’t fall for it.

Paul Michael — Tue, 06 May 2008 21:42:58 +0000

Both John McCain and Hillary Clinton are proposing a new Gas Tax Holiday that will run during the summer months, bringing “much needed relief” at the pumps. But will it? More than 200 economists, including four Nobel prize-winners, have already signed a letter rejecting the proposal.

The Gas Tax Holiday is yet another way politicians pander to the public, with an idea that on the surface sounds like a money-saver , but after a few seconds of consideration is actually pointless. It’s just a cheap way to buy your vote. It's an illusion.

The federal gas tax is 18.4 cents per gallon. Suspending the gas tax over the summer would save the average American around $30, according to Congressional Budget Office. That’s roughly 33 cents per day.

To me, that’s not a whole lot of cash. To people who are on the poverty line, it is. So I don’t want to dismiss it straight away. For a smart shopper, that’s enough to buy plenty of groceries. But we can’t just take it as read that people will see one cent of that money.

Fuzzy math
One of the main reasons economists are up in arms about the tax cut is that the knock-on effect has not been accounted for. Basic physics states that for every reaction, there is an equal and opposite reaction. So, if we cut the gas tax and prices go down, what happens; demand increases. Maybe not by much, on a 13-gallon tank you’re saving enough to buy a loaf of bread. But the illusion of savings will be enough to ‘drive’ more people to the pumps. And when demand increases, so does the price of gasoline. It happens every year.

So, it’s highly feasible that if/when the gas tax is eliminated, the price of a gallon of gas will remain the same or actually increase. And it’s those mega-rich oil companies that will reap the rewards. Oil companies that already report record-breaking profits and still receive grants and tax breaks from the government.

Furthermore, what happens to all the services that would have been paid for by the gas tax? Which roads will not get repaired? Which bridges will be allowed to stay in a state of disrepair? Oh wait…don’t tell me…our government will borrow the money, thus weakening our already dying economy even further. Or they’ll just let the infrastructure crumble.

I’m no economist, anyone will tell you that. But I don’t have to be. I have over 200 esteemed economists backing the argument and I for one don’t intend to stay quiet about it. Enough is enough Washington. Republican or Democrat, we need to make a stand and let them know we’re smarter than that, and they can’t buy our vote.

There is currently a petition out on the web asking for your signature. Here’s an excerpt from the petition:

Eliminating the federal gas tax all summer would only save American consumers about 30 dollars, send more money overseas, reduce our ability to invest in infrastructure, and encourage even more driving and pollution contributing to global climate change. At the end of the summer, gas prices would be as high or higher than before and no problems will be solved.

The only way to save Americans from spending huge sums on gas is to reduce the gas Americans use. We need to invest in alternative sources of energy. We need to build more fuel-efficient cars. And we need to make it easier for more Americans to accomplish everyday tasks without having to drive.

I have signed it. Over 1460 other people have signed it, too. You can find it here , and if we all get behind it maybe we can stop this insanity from happening. As Gandhi once said, “you must be the change you wish to see in the world.”

http://www.gastaxscam.com/letter.html
http://blog.wired.com/cars/2008/04/gas-tax-holiday.html
http://www.bloomberg.com/apps/news?pid=20601087&sid=aTzCmqCNyLho&refer=home
http://www.boston.com/business/ticker/2008/05/mit_prof_a_gas.html
http://firstread.msnbc.msn.com/archive/2008/04/29/958462.aspx

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread: