Black Friday was not always the start of holiday rush - Daily Mining Gazette
Black Friday was not always the start of holiday rush - Daily Mining Gazette |
- Black Friday was not always the start of holiday rush - Daily Mining Gazette
- 2020 Black Friday Deals for Car Lovers - msnNOW
- Black Friday Tour Sale: Buy One Get One Free - Untapped New York - Untapped New York
- Roth IRA Conversions: Pay Now, Live Tax-Free Later - Kiplinger's Personal Finance
| Black Friday was not always the start of holiday rush - Daily Mining Gazette Posted: 27 Nov 2020 10:22 PM PST  HOUGHTON — Believe it or not, Black Friday was not originally applied to the first official day of the holiday shopping rush. Rather, it was applied to the U.S. gold market crash of Sept. 24, 1869. What is easier to believe is that the financial crisis was the result a financier, Jay Gould and a railroad magnate named Jim Fisk. According to history.com, Gould and Fisk worked together in an attempt to purchase as much of the nation's gold as they could and drive the price up. According to the plan, they would then dump the gold back into the market at huge profits. On that Friday in Sept., the conspiracy unraveled; the stock market went into a free-fall, bankrupting everyone from Wall Street barons to farmers. Dating back to the Middle Ages, the adjective black has been applied to days upon with calamities occurred, or has been applied to calamitous events, such the period of the Black Death of Europe and Asia in the 14th century. Black Death, also referred to as "the plague," refers to an epidemic of bubonic plague caused by the bacterium Yersinia pestis, states livescience.com. In his book, The Black Death, 1346-1353: The Complete History, Ole Jørgen Benedictow estimates that 50-60 percent of the population of Europe died during the Black Death, an even higher proportion than the often-cited "one-third" of Europeans lost to the disease. The name "Black Death," Benedictow suggests, is actually a "misunderstanding, a mistranslation of the Latin expression 'atra mors,'" meaning at the same time "terrible" and "black." There is no discernible correlation between the grisly name and the symptoms experienced by victims. In the 20th century, years before it started appearing in advertisements, the term Black Friday was applied to the day after Thanksgiving by Philadelphia police officers. According to Adam Hayes' essay, "Black Friday," on the website investopedia, in the 1950s, crowds of shoppers and visitors flooded the the day after Thanksgiving. Not only did Philadelphia stores tout major sales and the unveiling of holiday decorations on this special day, but the city also hosted the Army-Navy football game on Saturday of the same weekend. "As a result, traffic cops were required to work 12-hour shifts to deal with the throngs of drivers and pedestrians," states investopedia, "and they were not allowed to take the day off. Over time, the annoyed officers started to refer to this dreaded workday as Black Friday." In 1950s Philadelphia, Thanksgiving weekend was a mob scene, states Brian Martucci on moneycrashers.com. "The Army and Navy college football teams celebrated their fierce rivalry each year with a neutral-ground clash in Philly on the Saturday after Thanksgiving, the article, The Real Reason Black Friday is Black, states. The day before, thousands of people from surrounding communities – as well as Army or Navy devotees from farther afield – flooded the city in anticipation of the big game. They took the opportunity to stock up on clothes, home goods, and other giftable items at central Philly's many retail shops and department stores. In other words, Martucci wrote, Black Friday was not a great day to be a public servant in mid-20th-century Philadelphia. By the 1960s, locals had taken to calling the chaotic day after Thanksgiving "Black Friday." "Amid the intense racial and social tensions of the time, this wasn't the most flattering descriptor," Martucci stated. "Local politicians and business leaders even sought to rebrand the day Big Friday, a happier construction. But it didn't stick; Black Friday did. As retailers grew, merged, and sprouted roots in the suburbs, the term spread to other cities and eventually entered the national lexicon." The term quickly gained popularity and spread to store salespeople who used Black Friday to describe the long lines and general chaos they had to deal with on that day, Hayes wrote. It remained Philadelphia's little inside joke for a few decades, although it spread to a few nearby cities, such as Trenton, New Jersey. Finally, in the mid-1990s, "Black Friday" swept the nation and started to appear in print and TV ad campaigns across the United States. Eventually, the day was embraced by department stores as a day for huge, "blow-out sales" that was designed to spur increased consumer spending in the time between Thanksgiving and Christmas Eve. Like every other cultural day or event, however, attempts have been made to politicize Black Friday by putting an ugly twist to the tradition, relying on false information to make the day something racist. In recent years, writes history.com, another myth has surfaced, claiming that back in the 1800s Southern plantation owners could buy slaves at a discount on the day after Thanksgiving. Though this version of Black Friday's roots has understandably led some to call for a boycott of the retail holiday, it has no basis in fact. Since days of the Philadelphia police being unmercifully overworked protecting the City of Brotherly Love, the one-day sales bonanza has expanded into a four-day event, and spawned other "retail holidays" such as Small Business Saturday/Sunday and Cyber Monday, history.com states. Stores started opening earlier and earlier on that Friday, and now the most dedicated shoppers can head out right after their Thanksgiving meal. |
| 2020 Black Friday Deals for Car Lovers - msnNOW Posted: 27 Nov 2020 07:53 AM PST Online holiday sales are going crazy this year with so many Americans unable to do their holiday shopping in person at brick-and-mortar outlets, and retailers are launching Black Friday deals much earlier in 2020 than in years past. We're on the hunt for deals just like you are, and we've got the hottest ones listed below. As new sales and discounts pop up, we'll update this story with more cool products for you to choose from. So, fire up your computer or smartphone and get ready to click 'Add to Cart' before these deals disappear. For more gift-giving ideas, check out our comprehensive holiday gift guide. |
| Black Friday Tour Sale: Buy One Get One Free - Untapped New York - Untapped New York Posted: 24 Nov 2020 07:42 AM PST Don't miss Untapped New York's biggest sale of the year! Buy one tour ticket and get one Free with promo code BLACKFRIDAY2020. This code lets you save on our most popular public tours such as the Secrets of Grand Central Terminal, Victorian Flatbush, Hidden Gems of Central Park's North End and more! This discount applies to purchases made now through Cyber Monday (November 30th) for tickets to any future tour date. Learn more about some of our favorite tours below, and see a full list of all our public tours here! Victorian Flatbush Tour
Greenwich Village Coffee Tour
Hidden Gems of the Financial District
Secrets of Grand Central Tour
Remnants of Dutch New Amsterdam
Physically touch history as you spend time finding out how Bowling Green got its name and why it's been so important in our city's history! Among the many relics you will experience on this tour are the foundations of New York City's first City Hall (which was also a tavern!), the long forgotten oyster pasty cannon, the original battery wall and so much more! This New Amsterdam tour is led by an expert guide from the Untapped New York team. Remnants of the World's Fairs
Hidden Gems of Central Park's North End |
| Roth IRA Conversions: Pay Now, Live Tax-Free Later - Kiplinger's Personal Finance Posted: 24 Nov 2020 04:50 AM PST There was a lot of discussion around tax increases in the run-up to the election. On one side, raising taxes on corporations and on ultra-high net worth individuals. The other side focusing on foreign taxes and tariffs. The one thing everyone can agree on is that taxes are going to go up in the future. The United States has over $27 TRILLION in debt, which is climbing rapidly. The government has issued billions in Coronavirus stimulus packages, and unemployment hit 13% in May, the second highest rate since World War II. We also have a Social Security system that is quickly running out of money. There is a clear need for more tax dollars. No matter where the focus (corporations, ultra-high net worth individuals or foreign countries), there is always a tax burden that falls on everyday Americans. It is fair to assume that burden will likely grow in the future. So how can you set yourself up now for what may lie ahead? How Do Roth IRA Conversions Work?Roth conversions are the best way to take a little pain today to give yourself options in the future. A Roth conversion is when you take money out of a traditional IRA and transfer it directly into a Roth IRA. When you do this, the amount converted IS taxable. You pay income tax on the entire amount moved into your Roth IRA. Once it is in the Roth IRA, the growth is tax-free. As long as you have had the account for five years and you are 59½ or older, you can take the entire amount of a Roth IRA out tax-free. What Are the Benefits?Tax-Free GrowthIf we are under the assumption that taxes will go up in the future, it makes sense to pay taxes on some of your money now to avoid taxes at higher rates in the future. For example, according to U.S. Census Bureau, the median household income in 2019 was $65,712. The standard deduction this year for a married filing jointly household is $24,800. That leaves an adjusted income amount of $40,912. Based on 2020 tax brackets (see chart below), this places the median household in the 12% tax bracket. This bracket goes up to $80,250 worth of income. So, there is room for nearly another $40,000 before the median household moves up to the 22% bracket. That is $40,000 of opportunity. Opportunity to convert $40,000 from traditional IRA monies to a Roth IRA. You pay 12% in federal income taxes to move this money, but the way I see it that could be a steal in the future.  Lower RMDs on Your Traditional IRAs in the FutureRequired minimum distributions (RMD) are due in April the year following your 72nd birthday. An RMD is a set percentage of your traditional IRA that you must withdraw for that given year. The percentage you must take out also increases over time. One hundred percent of required minimum distributions are taxed like income, and you cannot convert RMDs. These required withdrawals may be more money than you can spend, but it doesn't matter, they are REQUIRED. By doing Roth IRA conversions in your 50s and 60s, you are reducing the value of your traditional IRAs. Therefore, when your 70s come around, your RMD amounts will be smaller. This will minimize the taxation on your traditional IRA in the future and make tax-free dollars available in your Roth IRA for supplemental income. The Ability to Leave a Tax-Free EstateOne of the biggest negatives to the SECURE Act is the rules on inheritances. Before the SECURE Act, beneficiaries could stretch inherited IRAs over their entire lifetime. Now, with only a few exceptions, beneficiaries have 10 years to withdraw the entire amount of inherited IRAs and inherited Roth IRAs. That means 10 years to pay the taxes on inherited IRAs. Typically, when you're inheriting an IRA from Mom or Dad, you are in your prime working years, making more money than you ever had. Now, when you take that money from the inherited IRA you're paying taxes at your high, working tax rate. This can end up with Uncle Sam getting 40% of your IRA through taxes. On the flip side, inherited Roth IRAs remain tax-free for the beneficiary. Paying taxes on your IRA in your 50s and 60s can help save taxes for you in retirement AND your children after you die. Some People Who Should Think Twice before Doing a Roth IRA ConversionThe idea of doing a Roth conversion is to have a little pain now by paying the tax to have no pain or tax-free dollars in the future. Therefore, if you are a high-income earner now, a Roth conversion may not make sense for you. This is the case for many who will be in a lower tax bracket in the future. If you were to make a large conversion now, you would pay taxes at your high rate to not pay taxes at your lower future retirement rate. In this scenario, it wouldn't make sense to utilize Roth conversions. (For more, please see 6 Reasons You Should NOT Do a Roth Conversion.) The Bottom Line on Roth IRA ConversionsNobody enjoys paying taxes. However, it may be in your best interest to pay more in taxes now to set yourself up to have tax-free income in the future. Giving Uncle Sam nickels and dimes today can keep dollar bills for you and your family in the future. This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA. Vice President, Independence Wealth Advisors Phil Huff is the vice president and investment adviser representative licensed with Independence Wealth Advisors LLC, a registered investment adviser. As a former offensive lineman for Kent State University, he excels at protecting people. His focus is on optimizing his clients' life savings throughout retirement by taking a holistic approach to planning, developing and implementing personalized investment plans, retirement income planning and risk management. |
Discover the spectacular mansions and history of this unique Brooklyn neighborhood. Flatbush is a neighborhood that best encapsulates the full history of Brooklyn — from its 17th-century Dutch colonial history to the 20th century. Untapped New York tour guide Jeremy Wilcox will explore this progression and show you how centuries of history are preserved within a small area. You will also see part of Flatbush's greatest treasure: its spectacular mansions (including the Japanese House) developed at the end of the 19th-century by developers looking to break away from the Brooklyn brownstone mold. Several small historic districts, mansions, and church grounds dating back to 1654 are some of the highlights you will see on this unique tour.
Discover the surprising history of coffee in New York City while exploring Greenwich Village, its iconic birthplace. On this unique walking tour we will learn how New York and coffee go hand-in-hand both in cultural and economic development. In between sampling coffee at some of the retailers that popularized America's favorite beverage, you'll get a crash course in coffee history from its ancient discovery in Africa to its sustainable farming movements of the past few years. By the end of this experience you will have tasted: an espresso, a drip coffee, chocolate covered coffee beans and a cappuccino… so you will be caffeinated!
Acre for acre there is more history in FiDi than anywhere else in the country and most of is buried under strata of infrastructure or hidden in plain sight. On this tour you will discover Wall Street's turbulent history still visible today, trace the nearly hidden footprint of an old Dutch wall, see exactly where Washington stood when he was inaugurated, decode the most cryptic gravestone in Trinity Churchyard, pay a visit to Alexander Hamilton and his wife, touch one of the oldest standing structures in lower Manhattan, unearth a chunk of the old 18th century Battery wall buried in the subway system, step into a 19th century candy store hidden in the basement of an office building, and discover the site of NYC's long-standing slave market.
Did you know there is a hidden tennis court inside Grand Central Terminal? Or that its ceiling is backwards? On this unique walking tour you will discover the origins and history of the Beaux Arts train station, from its glittering glory days to disrepair and modern quests to save it. Whether you pass through it every day on your morning commute or stroll through the Grand Central for the first time, you are sure to leave having learned, seen, and experienced something new and extraordinary. This tour of Grand Central Terminal is great for history or architecture buffs alike.
Discover the many hidden Dutch relics south of Wall Street, as you trace the streets of Manhattan in 1667, where New York began. In this small group walking tour, you'll hear about New York's founding myths and facts while standing in the very spots where they all happened.
Didn't make it to the 1939/40 or 1963/64 World's Fairs? Well here's your chance! Explore the many remnants of the World's Fairs in today's Flushing Meadows-Corona Park including time capsules, Andy Warhol mosaics and more! Flushing Meadows-Corona Park has lived many lives from marshy tidal wetlands to an early 20th Century ash dump, to the site of not one, but two World's Fairs. This Flushing Meadows tour explores the past, present, and future of this 900-acre park which was an obsession of the late "Master Builder," Robert Moses. Join Untapped New York's Chief Experience Officer Justin Rivers as he leads you on a journey through Flushing Meadows' many unnoticed treasures.
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