Federal Money is Thrown Around! |
Federal income taxes are expected to grow next year for a couple of reasons. One, many tax breaks are due to expire next year. Two, the country cannot sustain trillion dollar losses in its budget every year. When you divide a trillion dollars by the total number of Americans, the cost per person is more than $3,000. However, if you exclude non-working Americans like retirees, students, etc, a trillion dollars is more than $6,000 per working American.
The federal deficit has accumulated to over $14 trillion, which is nearly the same value of the Gross Domestic Product (GDP) or all the goods and services that the United States produces in one year. Every American's share of the national deficit is currently about $42,000 and growing rapidly. In addition, the interest that is owed on the national debt is also growing rapidly - faster than the typical American's salary each year.
Unless Congress intervenes, one of the taxes due to increase on January 1, is social security tax. It will be restored to its full tax rate of 6.2%, up from the 4.2% Americans are paying this year. A 2% increase in the social security rate may not seem like much, but it could have an impact on the economy. With Americans seeing a 2% drop in their paychecks, consumer spending should be affected which in turn will affect business revenue, profits, dividends, etc. This could affect the overall economy and the anemic job market.
If you have any questions or need advice, please contact me at allaich@aol.com
This comment has been removed by the author.
ReplyDeletethe role of HR is to plan for the roles that the company needs- to identify talent and provide the resources necessary to help people develop.
ReplyDeletejob interview questions
It is a time of year that many people dread, however it is the law and it has to be done. For many people, tax time is a nightmare from which the need to be rescued from.guarantor
ReplyDeleteThe blog has a to an extraordinary degree restrain focus that opens up, shockingly into broad assortment of concerns.
ReplyDeletehttps://www.resumeyard.com
One very popular trick at the moment is https://mailchi.mp/cc08635ff53e/solopreneursguide for advisers to contact people who have been saving for many years into a pension fund and suggest we move our money.
ReplyDeleteOver my career, many clients have told me that their purpose for financial planning is the same - peace of mind. payday loans in maryland no credit check
ReplyDeleteRegardless of whether you have a vocation or your very own independent venture, there's free tax advice accessible to enable you to cover less regulatory obligations.mediazione del credito
ReplyDeleteIts tax framework is all around directed and is not exactly in the other created nations.lower singapore tax singapore
ReplyDeleteWhat a fantabulous post this has been. Never seen this kind of useful post. I am grateful to you and expect more number of posts like these. Thank you very much. career coach
ReplyDeleteThank you because you have been willing to share information with us. we will always appreciate all you have done here because I know you are very concerned with our. remote company registration
ReplyDeleteA Fiduciary may just make an incomplete dispersion to recipients or banks without worry of individual obligation for bequest tax inadequacies if adequate resources are held to pay all tax liabilities.Verfahrensdokumentation Vorlage
ReplyDeleteThanks for posting this info. I just want to let you know that I just check out your site and I find it very interesting and informative. I can't wait to read lots of your posts. KIU
ReplyDeletePositive site, where did u come up with the information on this posting?I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work. top paying freelancer jobs
ReplyDeleteTake note of how much money you get to keep after taxes. If you are getting a promotion, or choosing between two jobs, the one with the most income after all taxes and expenses should be the one you choose. Ortus Accounting Bookkeeping Services
ReplyDeletemmorpg oyunlar
ReplyDeleteInstagram Takipçi Satin Al
tiktok jeton hilesi
Tiktok Jeton Hilesi
antalya saç ekimi
referans kimliği nedir
instagram takipçi satın al
metin2 pvp serverlar
instagram takipçi satın al
Perde modelleri
ReplyDeletesms onay
Turkcell mobil ödeme bozdurma
nft nasıl alınır
ANKARA EVDEN EVE NAKLİYAT
trafik sigortası
dedektör
kurma web sitesi
ask romanlari
Smm panel
ReplyDeletesmm panel
iş ilanları
HIRDAVATÇI
beyazesyateknikservisi.com.tr
servis
jeton hilesi
çekmeköy lg klima servisi
ReplyDeletekartal lg klima servisi
ümraniye lg klima servisi
ataşehir lg klima servisi
çekmeköy alarko carrier klima servisi
ataşehir alarko carrier klima servisi
çekmeköy daikin klima servisi
ataşehir daikin klima servisi
maltepe toshiba klima servisi