Headlines
Obama budget seeks to help middle class, tax corporate overseas profits
President Obama is set to release a $4-trillion budget Monday with liberal priorities that have little chance of passage but will serve as an initial foray in negotiations with the new Republican Congress and help define the Democratic Party in…
AMAC: Aging workforce good for employers and the economy
America’s aging workforce is a good thing for employers and the economy, according to Dan Weber, president of the Association of Mature American Citizens, noting that a new Gallup poll shows that “employee engagement increases with age, even well into…
Taxing Social Security Benefits
Legislation introduced Wednesday in the House of Representatives would stop the practice of double-taxation of Social Security Benefits. Dan Weber, president of the Association of Mature American Citizens, said that AMAC “stands squarely behind the bill and will relentlessly encourage the…
Why Spending Is Back in Season in Washington
America’s partisan divisions are so familiar it sometimes seems the fight never changes. But on the federal budget, the battlefield has been transformed. Four years ago, when budget deficits topped $1 trillion, congressional Republicans turned their midterm election triumph into…
Congress torn over depleted disability fund
A Social Security fund that provides benefits to nearly nine million disabled people is projected to run out by the end of 2016, and a new House rule could cause headaches for majority Republicans during the upcoming push to shore…
New Report: Deficit Will Exceed $1 Trillion Before Decade’s End
The new Congressional Budget Office report released today shows deficits and debt rising over the next decade, despite a short-term improvement in the 2015 budget year. The report contains several pertinent facts concerning spending, taxes, deficits, and debt, including these…
How Obama’s New Tax Plan Discriminates Against Stay-at-Home Parents
President Obama’s new tax plan, which he discussed in part in the State of the Union, lays out new proposals that he claims would help low- and middle-income families. These included a new tax credit program for dual-earner families and…
This Medicare Mess Could Delay Your Retirement
Healthcare costs are one of the biggest threats to your finances after you retire, and retirees rely on the Medicare program to help them cover the bulk of those costs. Yet Medicare has a huge financial time bomb that constantly…
Why the Real Social Security Crisis Will Start in 2020
Social Security has a substantial funding gap. According to its trustees’ best projections. its Disability Insurance Trust Fund will run out of money next year. Its Old-Age and Survivors Trust Fund will empty in 2034. If those two trust funds are…
Uncle Sam Is Coming After Your Savings
Earlier in the week, I discussed the Obama administration’s proposal to tax earnings on so-called 529 college savings plans, part of a package of tax hikes that will pay for new programs such as his proposal to make the first…