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WINDFALL

The Wire

A glance at the California Voting Rights Act

NAME: California Voting Rights Act

Jackpot: Lawyers earn fees from law they wrote

Every lawsuit filed or even threatened under a California law aimed at electing more minorities to local offices — and all of the roughly $4.3 million from settlements so far — can be traced to just two people: a pair of attorneys who worked together writing the statute, The Associated Press has found.

New Mexico enjoying revenue windfall from oil, gas

New Mexico is reaping a revenue windfall because of high prices for oil and natural gas, and a debate is brewing about whether the extra cash should be spent on highways, schools, health care or tax rebates.

Closeout Racks Overflowing for Holidays

Paul Murphy went bargain hunting at a discount store called Building 19, and ended up with quite a find: A charcoal gray wool men's suit for $66 that he found priced at $329 at a major department store.

Reid Used Campaign Money for Bonuses

Senate Democratic leader Harry Reid has been using campaign donations instead of his personal money to pay Christmas bonuses for the support staff at the Ritz-Carlton where he lives in an upscale condominium. Federal election law bars candidates from converting political donations for personal use.

AP Exclusive: Reid Got $1M in Land Sale

Senate Democratic leader Harry Reid is awaiting word from the Senate ethics committee on whether he failed to properly account for a business deal that allowed him to collect a $1.1 million windfall on land he hadn't personally owned for three years.

The Vine
Bonuses: time for a windfall tax - Aren't you sick and tired of bankers ripping you off?
Source: New Statesman Contents

Can there be a more shameless, selfish, self-centred, navel-gazing bunch of bankers than the RBS board? How on earth can a failed bank, bailed out to the tune of billions of pounds by taxpayers, now try to blackmail those same taxpayers, ie, their new shareholders? Vince Cable is …

Pelosi: Democrats consider windfall tax on insurance
Source: Reuters

Democrats are looking at the possibility of a windfall profits tax on insurance companies as part of healthcare reform, House of Representatives Speaker Nancy Pelosi said on Thursday.

Get Rich Slow – Windfall Wealth Could Clobber Ya. Norway: a Case in Counterpoint

When the Spanish conquered America, pretty soon gold was all that mattered. It was like finding cash. Spanish coffers were brimming with the stuff, never had the world seen such wealth. Then they went and blew it all on the Spanish Armada and castles in the sand.

Wealthy widow repays villagers' kindness by leaving them £400,000 in her will - that's £500 each in cash
Source: the Mail online

Eight hundred villagers are to get tax-free windfalls after their community was left a fortune by a wealthy widow as a thankyou for the welcome she received there after she retired.

$10m Toto Draw
Source: Straits Times Interactive - SINGAPORE

BY THE end of tonight, one or a few lucky punters will walk away with at least $10 million, the prize at stake in this year's Toto Hong Bao Draw. As of last night, that was the prize amount, but it may grow if more people place bets today, said Singapore Pools.

Election windfall: Gift of office equipment from the Obama campaign thrills Sto-Rox schools
Source: post-gazette.com

Word spread quickly last week through Sto-Rox High School when students learned that the administrative offices were filled with Barack Obama paraphernalia.

During RNC Speech, Palin Touts Oil Profits Tax That McCain Opposes
Source: Think Progress

During her address to the Republican National Convention last night, Sen. John McCain's (R-AZ) running mate, Gov.

Queen of Mean Leona Helmsley lavishes $8bn on dogs from beyond the grave
Source: The Times

The multibillion fortune of New York's "Queen of Mean" could be going to the dogs.

2 Energy Bills, Including Windfall Tax, Stall in Senate - NYTimes.com
Source: The New York Times

A bill that would have rolled back some $17 billion in tax breaks on Big Oil and pressured the companies to invest in new energy sources by hitting them with a windfall-profits tax if they did not failed to get enough votes to move forward.

As Stimulus Rebates Go Out, Stores Want All of It
Source: The New York Times

As the government sends out roughly $100 billion in economic stimulus checks to about 130 million American homes, retailers are trying to persuade consumers to spend their windfall at a time of high anxiety about the economy.

Coping With Loss, Military Kin Also Struggle With a Windfall
Source: The New York Times

For some relatives of service members killed in Iraq and Afghanistan, the money feels, at first, like an affront, as if the government were putting a price tag on a loved one's life.

Smart Plans for Your 'Bush' Tax Rebate
Source: ABC News

a family of four could be looking at a quick $4,000. I based that figure on last year's average tax refund of about $2,200 and the $1,800 a married couple with two children could receive under the House rebate plan.

Bonds' Homerun Ball Could Net Owner a $200K Tax Bill
Source: Yahoo! Sports

....Before he celebrates his windfall, the New York Mets fan who emerged from a violent scrum clutching Barry Bonds' record-setting home run ball should probably call his accountant.

Broke? 20 ways to save on a shoestring
Source: MSN

20 ways to save on a shoestring How much you save has little to do with how much you make, a study suggests. So forget the excuses; here's a roadmap for finding money you didn't know you had. Savings.

Big Oil's Big Windfall
Source: The New York Times

"A public already groaning under huge deficits does not need more red ink. An oil industry already rolling in record profits does not need more tax breaks. But both are sure to happen unless..."

The Misconception of Windfall Profits

What exactly are windfall profits? If you Google this term for the most part you'll get "profit that occurs unexpectedly as a consequence of some event not controlled by those who profit from it." Don't we all want that?

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