In a time where economic uncertainty looms large, many investors find themselves unsure of how to navigate their financial choices. Despite some positive economic indicators, a significant portion of the population mistakenly believes that the U.S. is currently in a recession. This misconception can lead to panic and poor financial decisions as people try to
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Former President Donald Trump and Vice President Kamala Harris have both expressed support for eliminating taxes on tips for service and hospitality workers. This idea has generated mixed reactions from policy experts, with some criticizing the potential consequences of such a policy change. Harris recently voiced her support for tax-free tips during a rally in
The Social Security Administration is facing a crisis with a “record-breaking backlog” of open cases, which has led to approximately $1.1 billion in projected improper payments to beneficiaries. According to a new report from the Social Security Administration Office of the Inspector General, the backlog of pending actions has climbed to an all-time high of
The recent fears of a looming U.S. recession have reignited concerns about the efficacy of the unemployment benefits system. Experts warn that the system, which crumbled under the weight of the Covid-19 pandemic, remains ill-equipped to weather another economic storm. Michele Evermore, a senior fellow at The Century Foundation, has been vocal about the system’s
The southeastern U.S. was hit with torrential rains and flash floods from Hurricane Debby, emphasizing the importance of flood insurance coverage for homeowners. While many may assume that flood insurance provides comprehensive coverage for all damage, it’s crucial to understand the limitations, particularly when it comes to basements. Peter Kochenburger, an insurance expert, warns that
The Biden administration’s new affordable repayment plan, known as SAVE, is facing a significant roadblock due to numerous legal challenges. The program, officially named the Saving on a Valuable Education plan, has garnered attention for its promise of being the most affordable student loan plan to date. However, the implementation of SAVE has been put
Former President Donald Trump recently reiterated his proposal to remove taxes on Social Security benefits for seniors. While this plan may seem appealing to many retirees, policy experts warn that it could have serious repercussions on the long-term sustainability of Social Security and Medicare trust funds. By eliminating this tax, Trump’s plan could potentially accelerate
The latest statistics released by the Federal Reserve Bank of New York paint a concerning picture – Americans now collectively owe a staggering $1.14 trillion in credit card debt. This represents a significant increase from previous years, with the average balance per consumer sitting at $6,329, up by nearly 5% compared to last year. Delinquency
The issue of taxing Social Security benefits has gained bipartisan attention in recent years, with proposals at both the federal and state levels. While Former President Donald Trump has advocated for exempting Social Security from federal income taxes, Minnesota Governor Tim Walz has signed state legislation to achieve a similar goal. However, there are key
The recent data on unemployment rates in July has raised concerns among economists due to the significant increase in marginally attached workers. These are individuals who are willing and available to work but have not actively searched for employment in the four weeks leading up to the survey. The fear is that these workers may