Keyword: tax
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A senior from Montana has delivered a viral speech about the sorry state of property taxes in the Treasure State. “I’m on Social Security, I’m 68-years-old and working just to pay my taxes,” says Kurt, in a clip shared on TikTok by Ryan Busse, who is running to be the next governor of Montana. Kurt claims that over the last couple of years, his annual property taxes have soared from $895 to almost $8,000 — an increase of around 790% — which he says is like paying almost “$700 a month rent to the state to live in our own...
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New Zealand is scrapping a scheme to price gas emissions from livestock — squelching a so-called burp and fart tax initiated under the previous left-wing government led by now departed authoritarian Prime Minister Jacinda Ardern. New legislation will be introduced to parliament this month by the ruling conservative coalition to remove the agriculture sector from a new emissions pricing plan, thus responding to farmer pressure that the plan would make their business unprofitable. “The government is committed to meeting our climate change obligations without shutting down Kiwi farms,” said Agriculture Minister Todd McClay.
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Now law is the $750 million in tax increases to fund Illinois’ largest spending plan in state history. But so is a measure increasing the state’s debt by $8 billion while giving schools more taxing authority. Pritzker signed the $53.1 billion budget Wednesday. Friday, he signed the tax measure that includes capping the credit businesses can get for claiming net operating losses and capping the discount retailers get for collecting and remitting sales taxes. Hours later, Pritzker defended another tax increase, the tiered tax on sports betting companies. “In fact, if you look at what we did, really our focus...
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One tax table is focused on taxing Americans on their ordinary income, the income you earn from your job or your business. The other tax table is focused on taxing your long-term capital gains, meaning assets that have grown in appreciation such as stocks or your business value held more than 365 days. * * * According to a report issued by the Treasury Department, led by Secretary Janet Yellen, Biden’s proposed fiscal year 2025 budget would increase the top marginal rate on long-term capital gains and qualified dividends to an astonishing 44.6%. Today, that top marginal long-term capital gains...
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For decades now, I’ve been conducting my own informal survey of American views about CEO pay. Whenever family, friends, or random strangers ask about my job, I tell them it involves research on executive compensation. Last year, for example, I found that CEOs of America’s 100 largest low-wage employers made, on average, over 600 times what their median workers made — and often thousands of times more. Invariably, people see red when I share these numbers. And they often have choice words about the unfairness of it all. A new poll reinforces my informal findings: Americans across the political spectrum...
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In today’s edition of Getting What You Vote For, the dummies in California are about to get hit with a 50 cent per gallon gas tax. Remember, California voters have handed the Democrat party full power over the former Golden State. Democrats run everything from the governorship on down. Democrats not only hold majorities in the state legislature, they hold veto-proof majorities. In other words… Republicans are powerless in California. And so… According to Triple-A, the average cost of a gallon of gas in California today is $5.29. That’s nearly $1.70 more than the national average. In some parts of...
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White House Council of Economic Advisers Chair Lael Brainard dismissed the notion that Republicans would be able to easily reverse the sustainable energy provisions passed in the 2022 Inflation Reduction Act (IRA) even if they win majorities in the general election this fall. By building the energy transition into the tax code and incentivizing businesses and households to change their behaviors rather than compelling them to do so with more top-down spending initiatives, the Inflation Reduction Act is insulated from any quick-and-dirty policy corrections that may be desired by a new Congress or presidential administration, Brainard argued Friday.
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Warren Buffett, the billionaire Oracle of Omaha, says that Washington will likely "take a larger percentage of what we own ... Joe Biden .. won't push to extend the Trump tax cuts next year ... if Congress fails to extend the Trump-era tax cuts, it means an average American family of four making $75,000 will get hit with a $1,500 tax increase. “Main Street businesses will face a 43.4 percent tax rate” and “working parents will suffer from a Child Tax Credit slashed in half” along with the standard deduction every taxpayer is due. Remember Biden's promise not to raise...
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If Joe Biden is successful in passing his massive capital gains tax rate hike, Americans in 11 states will next year be paying over 50 percent of some of the profits when they sell off their assets to the government. The president's 2025 budget proposal includes increasing the top marginal rate on long-term capital gains dividends to 44.6 percent mark, which is the highest ever since the tax was implemented a century ago. The current rate sits below 25 percent - so the increase represents a significant hike.
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Fidelity’s 2024 State of Retirement Planning shows that TikToker @my_secrets_untold is part of the “new retirement,” wherein 57% of Americans plan to keep working after retirement — at least part-time. Of those planning to delay retirement, two-thirds are in the same boat as @my_secrets_untold: they’re doing it out of financial necessity. Working past 65 will give you a greater safety net because you’ll still have income coming in. You can’t just rely on Social Security, which currently doesn’t offer most retirees enough money to live on — particularly when paying for health care (a major concern for many Fidelity respondents)....
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Atlanta News First reports that Atlanta taxpayers endured extensive queues outside the city’s Tax Assistance Center, but not everyone was looking for last-minute help from the IRS ahead of the April 15 tax filing deadline. The center was open Saturday with extended hours, allowed individuals to engage directly with IRS representatives regarding their refunds, but the demand to do so led to hours-long waits under the sun. A majority of the people in line had received an email or letter from the IRS stating they had to verify their identity in person. The notification went on to say their refund...
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The Inflation Reduction Act created a pilot program that’s finally given Americans a free and easy way to file their federal taxes with the government, and it’s getting rave reviews. A man holds a sign advertising a tax preparation office for people that still need help completing their taxes before the Internal Revenue Service deadline on April 14, 2010 in Miami, Florida. Cindy Black of Lynnwood, Washington, has almost always done her own taxes. The 62-year-old nonprofit executive’s situation is straightforward: She only has one or two W2 forms for her employment, sometimes with a 1099 for some consulting work...
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"I didn't buy groceries last pay period" "You know why?" "I currently am being charged over $200 a month, for a CARBON TAX" "There's an extra $40 on my gas bill and $187 extra on my hydro bill" "Canadians are suffering" "I fill my SUV to go to work and it used to cost me $71. Now it costs me $98" "It shouldn't have to be this way" "It's sad" "I work full time" https://media2.giphy.com/media/3oEjI8Kq5HhZLCrqBW/giphy.gif
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So why am I telling this story? Because there is a tax benefit if you have an accident that is a total loss, and you receive an insurance payout for said loss. It’s called a “sales tax affidavit” and is available by law in all 50 states. There are some variations depending on the state, the model year of the vehicle, damage assessment, etc., but it is still the law of the land.
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Colorado Democrats are pushing an 11 percent excise tax on gun and ammunition sales, as well as numerous other California-style gun controls. There is a public hearing on the excise tax proposal today, and Colorado Springs firearms instructor Ana Flanell is urging the public to rally against the tax. On Easter Sunday she posted to X: “Join me at the Capitol tomorrow to testify against this “sin” tax. Self-defense is our right and we should not be taxed an outrageous 11% to exercise our Second Amendment rights. I’ve included a screenshot below of what to select when signing up. Let’s...
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In his annual letter to shareholders, Fink called the decreasing ability to retire in a financially sound way one of the biggest economic challenges of the mid-21st century. "Today in America, the retirement message that the government and companies tell their workers is effectively: 'You're on your own,'" Fink wrote. A federal law that will require employers with 401(k) plans to auto enroll new workers provides a bright spot, he said.
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(NEXSTAR) – Tax season isn’t really fun for anyone, but some states’ residents have it harder than others this time of year. As families around the country collect their paperwork and get ready to file, people in Illinois may find themselves with a heftier tax bill than their neighbors in other states. An updated analysis by MoneyGeek, a personal finance site, evaluates how “tax friendly” each state is by calculating the tax burden on the average citizen. States with low tax burdens earned an A, while those with the highest tax burden earned Fs. The state that scored worst overall...
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If you don't follow far-left Massachusetts Democrat Senator Elizabeth Warren on X, you should — if only for 24 hours. Hilarity reigns, as Warren never misses a concocted opportunity to rail against "profiteering" corporations, "the rich" not paying their "fair share," and "free" this and "free" that.Warren and Vermont Sen. Bernie Sanders have long pushed for a wealth tax that would begin with billionaires. Unlike Sanders, who believes billionaires shouldn't even be allowed to exist, Warren "only" thinks they should be taxed to smithereens (See: wealth redistribution).Now Warren, along with leftist Democrat Reps. Pramila Jayapal (WA) and Brendan F. Boyle...
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Buying a home has become increasingly out of reach for Americans, who are grappling with a double whammy of high interest rates and surging home values. In his State of the Union address on Thursday, President Joe Biden proposed a new tax credit that would provide $10,000 to first-time home buyers. Biden is also proposing a separate $10,000 tax credit for current homeowners who sell their "starter home" in order to jump into a bigger house. That could help melt a real estate market in which homeowners who locked in low mortgage rates during the pandemic and are hesitant to...
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Folks, please watch this and share it everywhere. The flood of illegal immigration is going to cause severe financial strain on our schools AND everywhere else in society. Click here for documentation of massive tax dollars spent on illegal aliens.
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