Former President Donald Trump and Vice President Kamala Harris have both expressed their desire to eliminate taxes on tips during recent rallies, creating a stir among policy experts. This proposal specifically targets service and hospitality workers, aiming to alleviate financial burdens and increase take-home pay for a significant portion of the workforce. However, the idea
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The Social Security Administration is currently facing a crisis with a “record-breaking backlog” of open cases, which is leading to approximately $1.1 billion in projected improper payments to beneficiaries. A recent report from the Social Security Administration Office of the Inspector General highlighted that the backlog of pending actions has reached an all-time high of
The current state of the U.S. unemployment benefit system is worrisome, with experts expressing concerns about its ability to withstand another economic downturn. The system, which provides temporary income support to laid-off workers, faced significant challenges during the Covid-19 pandemic, revealing cracks that had been present for years. These challenges include massive technology failures, administrative
Living in states prone to hurricanes can be challenging, especially when it comes to the threat of flooding. Hurricane Debby recently wreaked havoc in the southeastern U.S., leaving homeowners scrambling to deal with the aftermath of heavy rains and flash floods. While many homeowners may have purchased flood insurance to protect their properties, there is
The Biden administration’s latest student loan repayment plan, known as SAVE, has faced a multitude of legal challenges that have put the program on hold indefinitely. The White House revealed that approximately 8 million individuals are currently enrolled in the Saving on a Valuable Education plan. Despite being hailed as the most affordable student loan
Former President Donald Trump has recently reiterated his plan to eliminate taxes on Social Security benefits for seniors. While this proposal may seem beneficial on the surface, policy experts have raised concerns about the potential impact it could have on the Social Security and Medicare trust funds. Trump’s proposal, if implemented, could potentially deplete these
Recent reports from the Federal Reserve Bank of New York and TransUnion have revealed some alarming statistics regarding credit card debt in America. The total credit card debt in the country has reached a record high of $1.14 trillion, with the average balance per consumer standing at $6,329. This represents a 4.8% increase year over
As more retirees struggle to make ends meet, there has been growing bipartisan support for exempting Social Security benefits from income taxes. This issue has gained attention in the 2024 election cycle, with Former President Donald Trump proposing a federal tax exemption and Minnesota Governor Tim Walz implementing state legislation in partnership with Vice President
The latest data on the U.S. labor market has raised concerns among economists, as the number of marginally attached workers has been steadily increasing. These workers, as defined by the Bureau of Labor Statistics, are individuals who are willing and able to work but have not actively searched for employment in the past four weeks.
As Vice President Kamala Harris is running for the highest office in the United States, her personal financial records have come under fresh scrutiny. In reviewing recent tax filings, experts suggest that Harris and her husband, Second Gentleman Douglas Emhoff, have maintained a simple financial strategy during her tenure as vice president. Expert Analysis According