MyMoneyMinute.com

This is a guest post by David Ruiz from Lender411.com.

The much-talked-about $8,000 homebuyer credit is coming to an end, but that doesn’t mean the government is no longer supporting first-time homebuyers or potential owners and borrowers. The federal Housing Administration (FHA) enables thousands of prospective homebuyers to access loans that they wouldn’t otherwise qualify for. As a result of the recent economic downturn, FHA loans now make up nearly a third of all mortgage loans in the United States.

Initially, this may sound like more of the same irrationality that got us
into our current financial crisis-unqualified buyers buying homes that they
can’t afford with loans that they can’t pay off. Admittedly, there are some
risks and controversies surrounding the FHA.

It’s true that FHA loans require minimal down payments, and it’s true that
loans with minimal down payments are harder to pay off and easier to default on. It’s true that individuals with poor credit scores often turn to the FHA to finance their homes because conventional loans are unavailable to
them. It’s also true that the FHA has picked up where the now-defunct
subprime market left off by providing loans to many of the highest-risk
borrowers in the nation.

But that’s kind of the point. Originally, the FHA was intended to be a back
door into homeownership for individuals who otherwise wouldn’t have made it onto the playing field due to economic strife. This is the kind of social development that our government and our taxes are intended to support. And in the end, the FHA isn’t actually lending money at all. The FHA insures loans made by conventional mortgage brokers to qualified candidates. This sets the FHA up as a safety net for lenders in case things go awry. Under the FHA, the exchange of money back and forth is still happening primarily in the private sector.

When you compare mortgage rates you will find the they currently at record lows right now, but many potential buyers with steady incomes and the ability to pay for homes are being turned away by lenders out of reactionary fear. Banks don’t want to take risks because the nation is in crisis. But allowing more potential borrowers access to mortgages will help kick-start
the flow of money in the housing industry again, and this may ultimately set
the foundation for continued growth and recovery. The FHA helped get the
United States out of the Great Depression. It’s reasonable to conclude that
a similar strategy may be successful in our current financial situation.

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Jason Holmes is a regular writer with Debt Consolidation Care and is also a contributory writer with other financial sites. His expertise is woven around various aspects of the debt industry and with his e-books he tries to impart to people the different situations and simple solutions to get out of difficult situations. Some of his works include e-books like Credit Score The Quintessential Therapy for a Happy Pocket, Take Creditors and Collection Agencies to Small Claims Court and My Story- From Depression To a Smile.

Do you have a Roth IRA account? If yes, then you should know about Roth IRA rules for 2010 so that you can use your retirement funds effectively. Go through this article to know about the key rules of Roth IRA in 2010.

Rules of the Roth IRA in 2010

Here are 5 key rules of the Roth IRA in 2010:

1. Maximum contribution limit: Roth IRAs have an annual contribution limit. In 2010, you can contribute $5,000 to a Roth IRA account. If you are above 50 years, then you can contribute an additional $1,000 for a total of $6,000. You can own both a Roth IRA and Traditional IRA. However, you should know that the maximum IRA contribution limit is $5,000 including both Traditional and Roth IRAs. This implies that if you contribute $2,000 to a Traditional IRA, then you can only contribute $3,000 to a Roth IRA.

2. Easier to convert 401k into Roth IRA: Before 2010, it was very difficult to convert a 401k into a Roth IRA. Previously you had to establish a Traditional IRA and then roll the 401k into a Traditional IRA. Next you had to open a Roth IRA account and then complete the conversion formalities. When the conversion was complete, you had to close the Traditional IRA account as it was no longer required. But in 2010, you can directly rollover your 401k into a Roth IRA.

3. Income limits: There are some income limits that restrict your capability to contribute to a Roth IRA. The income limits are based on your adjusted gross income and federal income tax filing status.

* Single filers: If you are “single” or “head of the household” and “married filing separately” and your adjusted gross income is $105,000, then you can contribute the full $5000 to a Roth IRA account. You can make partial contribution when your adjusted gross income is between $105,000 and $120,000. And in case your adjusted gross income exceeds $120,000 then you will not be able to make contribution to a Roth IRA.

* Joint filers: Joint filers with adjusted gross income between $167,000 and $177,000 can make a full contribution to their Roth IRA account.

* Married filing separately: If you are married and filing separately and your adjusted gross income exceeds $10,000, then you can’t contribute to a Roth IRA account.

4. Withdrawal rules: Under certain circumstances, you can withdraw funds from your Roth IRA account without paying a penalty. You will have to pay 10% early withdrawal penalty as well income taxes (on the amount withdrawn) if you take out funds from the account before you reach 591/2 age.

5. Save tax: In 2010, taxpayers with adjusted gross income higher than $100,000 can directly convert a Traditional IRA to a Roth IRA. Usually a tax is imposed on the conversion amount. But according to the new rule, you can report 50% of the IRA conversion amount as taxable income in 2011. The remaining 50% of the conversion amount can be reported in 2012. This implies that the income taxes payable on the 2010 conversion amount can be spread over 2011 and 2012.

Finally, you have the option to withdraw from your Roth IRA account to make payments for qualified higher education fees while escaping the 10% early withdraw penalty.

Retirement 401k, 403b, conversion, IRA, Retirement, Roth

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Americans Could Lose Unemployment Benefits Soon
Americans in Debt Face Additional Hurdle

FT. LAUDERDALE, FL – On June 24th the U.S. Senate failed for the third time to act on extending unemployment benefits, which are currently set to expire in November. Although more than 1.2 million Americans will exhaust their unemployment benefits by the end of June, senators are struggling to reach a compromise. A New Horizon Credit Counseling, a nonprofit credit counseling organization, noted that those who are unemployed and in debt face an even tougher challenge with the loss of this important resource.

According to Stephen Marcus, president of A New Horizon, “Many people relying upon unemployment benefits often find that the majority of their check is spent on making minimum payments towards existing debt, such as credit card bills.” When unemployment benefits end, said Marcus, people find that they quickly become delinquent on their bills. With the unemployment rate hovering just below 10 percent, the number of Americans facing potential financial peril is staggering.

Many experts predict that the bankruptcy rate will continue to climb as jobless Americans become unable to meet their debt obligations. According to Marcus, “A New Horizon has already experienced an influx of clients who turn to their debt management services, which help consumers avoid delinquency or bankruptcy”. While A New Horizon can help its clients reduce their debt, those consumers facing bankruptcy are not alone; the number of bankruptcy filings virtually doubled between 2006 and 2009, totaling nearly 1.4 million.

Senate Democrats calling for an extension of benefits have faced tough opposition from Republicans, citing the rising national debt. Senator Olympia Snowe of Maine may be the first link to a bipartisan agreement. Snowe has asked the democrats to propose a standalone bill, rather than the previous package deals they have offered. As the end of June approaches, however, many unemployed Americans with debt will likely face a tough road.

A New Horizon Credit Counseling Services is a nonprofit credit counseling organization that has been helping consumers with credit card debt since 1978. For more information about their programs, contact 1-800-556-1548. They can also be found on the web at http://www.anewhorizon.org, or reached via email at slieberman@anewhorizon.org

Guest Post A New Horizon, press release, unemployment

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This post is from PT of ptmoney.com, author of 52 Ways to Make Extra Money.

The Roth Individual Retirement Arrangement (IRA) is a retirement savings account created by the US federal government, regulated by the IRS, with the intention of creating a tax incentive for you to save more for retirement. It was created years after the traditional IRA to please those looking to shelter future income from taxes vs current income. Here’s how it works: you open up a Roth IRA, start contributing after-tax funds, choose your investments, retire, and withdraw your Roth IRA funds tax free. That’s right. You get to withdraw your money in retirement without paying taxes. If you expect to save enough to retire on, then your account will see significant gains (earnings) over the long haul. And in a normal taxable account, you’d pay upwards of 35% in taxes for those earnings. With the Roth IRA you don’t have to pay those taxes. Nice.

Contributions to the Roth IRA are limited to $5,000 annually ($6,000 if you are older than 49). Withdrawals from your Roth IRA earnings can be made tax and penalty free at the age of 59 and a half. Keep in mind that there are income limits to those who qualify to use a Roth IRA.

Most people use a Roth IRA in combination with their 401K or company pension. Why? Well, because it has an opposite tax treatment, and thus, will give you tax diversification in retirement (i.e. pay taxes on some savings now, pay some later).

So how do you open up a Roth IRA? Well, it’s pretty easy these days. You can go to a bank, a mutual fund company, or you can pick from one of the best online stock brokers. If you’re looking to do mainly passive investing within your Roth IRA, then I suggest a mutual fund company like Vanguard. If you are going to be more of an active trader wanting to do cheap stock trading, then choose a low-cost online broker. Skip the banks, as they may be expensive and have a limited choice of funds.

Once you have your account opened, you will need to choose some investments. You can usually invest in a variety of investment types within your IRA: individual stocks, bonds, funds (index, mutual, EFTs), and more. Find an asset allocation model that fits your age and risk tolerance and choose the investments that will give you that mix.

Now that you have an account and some investments picked out, create automatic savings contributions to the account. It’s critical that you set up automatic contributions. Since this account is not tied to your employer, it’s up to you to remember to save. Creating an automatic savings plan will help to take the pressure off of trying to remember. Start small and work your way up to contributions that will get you to your annual limit of $5,000.

Have you considered a Roth IRA? What’s stopping you from opening one up today?

Guest Post, Retirement Guest Post, IRA, PT, PTmoney, Roth IRA

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Home Buyer Tax Credit To Expire

The deadline to qualify for the Federal Housing Tax Credit is this Friday, April 30th.  Many housing markets are in a midst of a flurry of activity as the deadline looms.  This government program provides an $8,000 tax rebate for anyone buying their first home, and up to $6,500 to home buyers who have resided in their previous home at least five years.  To qualify, you must be under contract by this Friday, and close on your purchase by June 30, 2010.

Market Manipulation

While the actual stimulus program can (and should) be debated, it is no accident that this will be a busy week in residential real estate.  Some agents are even trying to capitalize on the momentum by privately extending their own “tax credit” of up to 3% of the purchase price after the government credit expires.  Very creative if you ask me!

I have a personal stake in the matter since my house is on the market.  I know it will help us get showings this week, but I’m not sure if it’s the best use of taxpayer money.

What About You?

Are you trying to purchase a house and beat the deadline?  Was this Federal Housing Tax Credit a good idea?  Should it be extended?  Tell me your thoughts or experiences with the Federal Housing Tax Credit.

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Personal Finance buyer, credit, government, home, real estate agent, realtor, stimulus, tax

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Last week I went to Washington, D.C., with my wife and mother-in-law.  As a political science major and later law school graduate, surprisingly I’d never been to our nation’s capital.  I had a wonderful time, and hopefully came up with a few blog posts about my trip.

Waiting In Line

There’s no getting around it — when you go to Washington, D.C., you’re going to wait in lots of lines for tickets to enter museums and tours.  On the last day of our trip, I was in line at 9:00am to see the Holocaust Museum, which opened at 10:00am.  We were cold and hungry, and luckily there is a cafeteria next to the museum, so I went inside to grab some coffee and bagels while my wife held our place in line.

You Want Me To Pay For A Paper Bag?

After getting two coffees, a bagel, a doughnut, and a cookie (I know, I know.. not the healthiest food to eat when you’re out of town!), I realized I needed a bag to carry all that stuff outside.  When I asked the clerk, she said she had to charge me 5 cents for a paper bag.  Seeing the perplexed look on my face, she further explained that D.C. had become the first American city to institute a bag fee.  The effort would help reduce waste, and the money collected by the fee would go to help clean up the nearby Anacostia River.

Rationally Irrational Behavior

Instinctively, I declined to pay for a paper bag.  Why on Earth would I pay extra for it?  But once I realized I couldn’t physically carry two burning hot coffees with sketchy lids plus our snacks, I decided to have a moment of clarity and decided to drop a nickel on a paper bag.

Behavioral Economics

It is funny how even the smallest monetary charge deters us from a purchase.  Reports have D.C.’s plastic bag consumption down 60%!  This means people have gone with reusable grocery bags or just try to carry their groceries out by hand.  Of course, it also can have negative economic consequences — there are some people who have chosen to pick up groceries in nearby Virginia or Maryland, with possible higher sales taxes, just to avoid paying 5 cents for a bag!

I find it fascinating that the deterrence has nothing to do with the amount of the charge, but in confronting citizens and forcing them to choose to accept an additional 5 cents/bag on each transaction.  Similarly, we are manipulated when we use plastic over cold, hard cash.  Plastic is painless to swipe, but cash is more of a physical & mental transaction, and you are likely to spend less money when using cash.

Point is, we are all human beings, and subject to subtle manipulation in our financial habits, which have an effect on our lives in different ways.  If this new bag tax doesn’t affect D.C.’s economy, I think it was a great way for the District to promote conservation & recycling.  Of course, it’s a bit IF, so we’ll see how it shakes down.

What about you — would you pay 5 cents per bag?  Are there other instances of ‘behavioral economics’ where you are encouraged/manipulated into making certain financial choices?

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Politics bag tax, behavioral economics, D.C., lincoln, tax

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Welcome to the Yakezie Challenge Carnival!  The Yakezie is a network of personal finance bloggers who are dedicated to improving our individual blogs through selfless promotion and information exchange between fellow members in the group.  The Challenge, at least initially, is to raise our Alexa rankings.  When my site, MyMoneyMinute.com, first began the challenge, my blog was ranked well into the 3 millions; now, as of today, I am ranked #264,844 — and I owe it all to this great network of bloggers!

This Week’s Yakezie Highlights

Here’s some select posts from our Yakezie members:

Free From Broke gives us Different Bank Cards And Their Uses.

Not Made of Money shows us How To Save Money When Buying Plane Tickets.

Eliminate the Muda tells us about Health Care For Kids When You Can’t Afford It!

Jason from One Money Design submitted a video in a contest on how to Save Money Commuting To Work.

Jeff from Deliver Away Debt hosted a carnival of his own — 111th Money Hackers Carnival: Don’t Hassel-the-Hoff Edition!

The Millionaire Nurse gives you 8 Tips To Improve Your Credit Score.

The Simple Life In France asks: Do You Wish You Spoke Any Other Languages? I wish, but I only have to my credit two semesters of American Sign Language and the curse words in Spanish.  I should get moving!

College For 10k tells us How The iPad Could Save Money.

Zordane says Getting Into Debt Doesn’t Solve Another Debt.

Craig from Money Help For Christians gives us a double-dose of high-quality posts this week:  The Best Personal Finance Software for 2010 and Can Kids Open A Roth IRA?

The Yakezie, Death & Taxes!

April 15th was last week, which can mean only thing — taxes!  Here’s some great articles from the Yakezie archives that are tax-related.  Enjoy!

20s Money — What Is The VAT Tax?

Beating Broke — What We’re Doing With Our Refund

Bible Debt — Legalize Marijuana: The Answer To Our Budget Problems?

Buck$ome Boomer — How To Spend $1,100 On Medical Expenses…Fast!

Budgeting In The Fun Stuff — A Rebuttal to Washington Times article, 5 Myths About Your Taxes

Canadian Finance Blog — Book Review: Make Sure It’s Deductible

Car Negotiation Coach — Done With Taxes? Stop And Check Your Auto Finance Health

Christian Common Cents — What Is Tithing? (Okay, this is more of a God-tax, but I liked it.  If only Uncle Sam’s taxes were voluntary like God’s…)

Clarifinancial — Insurance Crucial In Irrevocable Trust

Conquering PF — PF Defined

Consumer Boomer — How To Check The Status Of Your Federal And State Income Tax Return

Cool To Be Frugal — Should I Put My Emergency Fund Into A Roth IRA?

Couple Money — Our Tax Return Plans

Credit Card Chaser — Are You Sure You Want To Pay Your Taxes With A Credit Card?

Darwin’s Finance — My Effective Tax Rate Is Under 5% – That’s Just Wrong

Downturn Living — Fifty Four Billion, Awww That’s Nuthin’!

Early Retirement Extreme — Marginal Earnings, When Working Is No Longer Worth It

Ending The Rat Race — Being Ready For Tax Season (Canadian blog)

Engineer Your Finances — Financial Lessons From Running

Eventual Millionaire — Highlights the Carnival of Personal Finance: Famous People With Tax Troubles

Evolution of Wealth — Gives you his Finale post in a series titled Tax Savings.

Financial Samurai — Tax Refunds Are Good For Most People, Because Most People Can’t Save

Fiscal Fizzle — Why Tax Refunds Are Bad

Foreigners Finance — Reader Question: Roth & U.S. Taxes While Working Abroad

Frugal Zeitgeist — Cheapest Places To Live: Texas

Girl With The Red Balloon — State Politics And Student Loan Repayment

Inexpensively — The Library – A Fantastic Tool For The Budget Minded

Learn Save Invest – Teach Your Kids About Money With The Family Tax

Little House In The Valley — Choosing A Neighborhood Based On Schools

Monevator — Do You Realise You’re Paying More Income Tax? (U.K.)

Money Beagle — Taxes Are Done

Money Crush — http://www.moneycrush.com/a-comedy-of-tax-related-issues/

Money Funk — Taxes 101: 3 Ways To Reduce Your Taxes

Money Reasons — The Catch With Winning A Free House

My Financial Objectives — 4 Part Series on Tax Savings

My Journey To Millions — Why Doesn’t Anyone Feel Remorse When It Comes To High Earners And Income Taxes?

Narrow Bridge — Would a 20% Tax Make You Give Up Candy And Soft Drinks?

Out Of Debt Again — I’m Surprised More People Don’t Cheat With Tax Problems

Peak Personal Finance — Can’t Pay Your Taxes? Get An Installment Loan From The IRS

Personal Finance By The Book — The Fair Tax: Is It Too Good To Be True?

Personal Finance Firewall — The World’s Worst Credit Card Spenders

Personal Finance Journey — Should I Tithe Off My Income Tax Return?

Personal Finance Ninja — Why You Don’t Need To Rush Out And Take Advantage Of The Expiring Housing Credit

Planting Dollars — How Much Will My Paycheck Be After Taxes?

Punch Debt In The Face — Taxes Are Funny!

Rainy Day Saver — Finally: Our Tax Refund Has Arrived

Redeeming Riches — What You Need To Know About Roth IRA Conversions

Saving Money Today — 7 Smart Things To Do With Your Tax Return

Single Guy Money — Taxes Filed – Results Not As Bad As I Thought

Single Mom, Rich Mom — If You’re Getting A Tax Refund, You’re Doing Something Wrong And The Government Is Playing With Your Mind

Stay At Home Mom CFO — Getting a BIG Tax Refund Was Keeping Us In Debt

Sweating The Big Stuff — Funniest Tax Return Ever? (LOL!)

The Amateur Financier — 10 Ways To Celebrate Tax Day!

The Centsible Life — You Win Some, You Lose Some

The Saved Quarter — Why It Doesn’t Pay For Me To Go To Work

The Debt Hawk — Opening A SEP To Lower My Taxes

Ultimate Money Blog — I Still Haven’t Finished My Taxes

Wealth Pilgrim — 9 Overlooked Tax Tips For Self-Employed Fools Like Me

Well-Heeled Blog — I Like Getting A Tax Refund

Young And Thrifty — Tiger Woods: Here Are 16 Last Minute Tax Tips For Year End (hey! same number as your mistress count!) [Canadian blog]

No Refund Needed

Read articles from my fellow Yakezie members – it’s the gift that keeps on giving!  Thanks for stopping by this week.  For an entire world of selfless personal finance bloggers, continue to follow my fellow Yakezie members.  Last week’s Yakezie Challenge Carnival was hosted by Don at Money Reasons, while next week’s carnival will be hosted by Austin from Foreigner’s Finances.

Stay tuned this week for some observations on personal finance from my recent trip to Washington, D.C.!

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Carnivals carnival, taxes, Yakezie

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Welcome to MyMoneyMinute!

SCL Readers — Welcome to MyMoneyMinute! I’m Jason — thanks for stopping by to read the guest post marathon from Jon Acuff from Stuff Christians Like.

I’m an attorney from the great State of Texas, where I live with my beautiful wife and 3 dogs. MyMoneyMinute is all about “Personal Finance and all that Implies… In Minutes a Day!” I like to write about how all aspects of our lives — family, spiritual, career, politics — intertwine with and reflect our financial behaviors.

Did you know Jesus talked about money more than any other topic during his ministry? There’s a lot we need to learn about money, and none other than Jesus himself knew how entrenched it is in our daily lives.

Take a look around! If you like, you can receive FREE UPDATES. Just enter your e-mail address on the top-right to become a subscriber, or add me to your RSS feed.

Favorite Posts

Here’s a handful of some of my favorite posts to check out:

What We Learn From Tragedy

Unemployment Benefits – Denied!

The 200,000 Mile Club

A Spirit of Fear

There’s An App For That: 35 Ways To Slash Your Household Budget

Thanks for stopping by! Here’s Jon’s guest post:

The “Is that contestant on American Idol a Christian? Scorecard”

119. They say that they feel “called to sing.” = +1 point

120. They request that the song Fox plays when people get kicked off is “Friends are Friends Forever.” = +1 point

You can see the entire guest post from Jon Acuff at Stuff Christians Like HERE. Thanks, Jon!

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Guest Post

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April Fools!

It’s April 1st, which means you have to read everything twice to make sure it’s real and you weren’t the victim of an April Fools prank, like the ones that Baker at Man vs. Debt pulled, or the light-hearted piece PT from ptMoney penned today.

“I’m From The Government, And I’m Here To Help.”

Not quite as funny is the increasing level of dependency we have on the government to care for us when the chips are down.  With the “Great Recession” and a concerns of a double-dip housing collapse, there have been numerous federal incentives to stimulate and inorganically sustain the economy.  The necessity of these programs are debatable, but programs like Cars “Cash for Clunkers”, Appliances “Cash for Clunkers”, and the First-Time Homebuyer Tax Credit have brought extra money to the pockets of consumers.  It is redistribution of wealth at its finest!

Don’t Depend on Government!

Incentives from the government are nice to those benefiting from it, but the minute you begin to expect the assistance, you run into the problems, which at least are minor inconveniences and at worst horror stories.  Here’s a few examples:

• Home Buyer Tax Credit — A buddy of mine just bought a house last year, after living in his previous home for 5 years.  When tax time came around this year, he expected that $6,500 rebate from the government.  Awesome, right?!?  Wrong, because he bought the home before November 6, 2009, which means he doesn’t qualify.  Luckily for him, he has a decent emergency fund and wasn’t depending on the money.

• Appliances “Cash for Clunkers” — There was a fellow Personal Finance blogger who had a parent that purchased a new dishwasher under the guise of the Appliances “Cash for Clunkers” program.  Turned out, their state was not a participant in the program.  So an old appliance was replaced, but no tax rebated given.  I couldn’t find the link to save my life, so forgive me this once for poor journalism.  Just remember to check local laws and stipulations on which appliances qualify for tax rebates.

• State Pension Plans — Government jobs used to be looked at as secure jobs even if the pay was below market value.  Now, teachers are being laid off by the thousands, and pension plans are going broke.  Chickens are coming home to roost with the excessive benefits offered to public employees, and aren’t sustainable at current levels.  If you are a public employee, you can’t solely rely on a pension to provide for your retirement.

• Income Tax Refunds — Ahh, there’s nothing like getting a HUGE tax refund, right?  All that money that would’ve been spent is now saved up and sent directly to you in one fell swoop from the IRS and your state government… unless, of course, you live in California.  Last year, the Governator and his Golden State legislative compadres faced a budget shortfall, and considered issuing IOUs because the state had no money.  Maybe that’s a good reason to argue that “Size Does Matter” with Tax Refunds.

• Social Security — The jokes about Social Security have been around for at least an entire generation now.  The bottom line is, you simply can’t depend on Social Security to be there for your retirement.  Consider it a nice bonus, but don’t rely on it, because it may not be there when you retire.

• Unemployment – I can’t forget my recent battles with being denied unemployment benefits.  Just remember, you don’t always qualify for the benefits.  Pay close attention and follow all the proper procedures, otherwise you may end up with nothing to fill the gap between employment.

Conclusion

What do you think?  Have you expected something from the government and it didn’t come through?  Do you budget or plan to include government incentives, or consider them an added ‘bonus’ if they come through for you?

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Politics, taxes

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In case you haven’t noticed (dripping sarcasm), the 2010 Census is upon us.  Really, who hasn’t noticed?  There’s been a barrage of advertisement reminding us to fill out our census form.  ”10 Years.  10 Minutes.  10 Questions.”

Who Do These Census People Think They Are?

Well, the short answer is, they are the federal government.  Y’know – the same people that brought you the IRS and the Marines.  Some point, at some level, you probably ought to at least listen to what they have to say.

The slightly longer answer, is that our forefathers, in their infinite wisdom, thought it would be a good idea to keep track of how many & where people were living.  Here’s what the United States Constitution has to say:

Representatives and direct Taxes shall be apportioned among the several States which may be included within this Union, according to their respective Numbers… .  The actual Enumeration shall be made within three Years after the first Meeting of the Congress of the United States, and within every subsequent Term of ten Years, in such Manner as they shall by Law direct.

– U.S. Constitution, Article I, Section 2, Clause 3

The basic responsibility of the Census is to take a head count to determine (1) congressional representation and (2) direct taxes.  We do this so representation and taxation will be proportional.  In our contemporary America, however, the Census asks a few more questions to gather statistics that help formulate public policy and most effectively distribute federal funding for educational and entitlement programs.

There are many groups out there that disagree with the extra-curricular activity of the Census, and argue that anything past a head count is beyond their duties as proscribed by the Constitution.  I’m not here to have a Constitutional debate, but if you’re so inclined you can read more about opposing viewpoints from the Tenth Amendment Center, SHTF Plan, and the U.S. Census website.

The 10 Questions of the 2010 Census

Taken directly from the U.S. Census website’s interactive sample form, here’s the 10 questions asked on the 2010 Census:

1. How many people were living or staying in this house, apartment, or mobile home as of April 1, 2010?
2. Were there any additional people staying here as of April 1, 2010, that you did not include above?
3. Is this house, apartment, or mobile home: owned outright, owned with a mortgage, rented, occupied without rental payments?
4. What is your telephone number?
5. Provide information on each person living here (Last Name, First Name, MI)
6. What is the person’s sex?
7. What is the person’s age and date of birth?
8. Is Person 1 of Hispanic, Latino, or Spanish origin?
9. What is Person 1’s race?
10. Does Person 1 sometimes live or stay somewhere else?

Duty of the Citizenry

That’s it – 10 questions.  I filled mine out easily in under 10 minutes.  So take the time to fill out the census, lest our government run even less efficiently and effectively than it already does!

Have you returned your 2010 Census form?  Was all the advertising overkill, or necessary?  Any questions you feel were overbearing, or perhaps other questions they should have included?  Let us know in the comments below.

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Politics 2010 Census, census, census form, Constitution, Tenth Amendment

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