Former President Donald Trump and Vice President Kamala Harris have both voiced their support for ending taxes on tips. Harris made her statement during a rally in Las Vegas, and Trump shared a similar idea at a rally in the same service economy hotspot. While this proposal has garnered some bipartisan support in Congress, it
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The Social Security Administration is currently facing a critical challenge in the form of a record-breaking backlog of open cases. This backlog has led to an estimated $1.1 billion in improper payments to beneficiaries, according to a recent report from the Social Security Administration Office of the Inspector General. As of February, the backlog of
As fears of a U.S. recession begin to resurface, attention has once again turned towards the issue of unemployment benefits. Experts warn that the current system, already strained by the Covid-19 pandemic, is ill-prepared for another economic downturn. According to Michele Evermore, a senior fellow at The Century Foundation and former deputy director for policy
The Biden administration’s new affordable repayment plan, known as SAVE, may be on hold for months, or even longer, due to a series of legal challenges. The White House has reported that approximately 8 million individuals are currently enrolled in SAVE, also known as the Saving on a Valuable Education plan. Despite being described as
Residents in the southeastern United States recently experienced heavy rainfall and flash floods from Hurricane Debby, underscoring the importance of adequate flood insurance coverage. While many homeowners may have flood insurance to protect their property from such events, they may be surprised to learn that most policies do not cover damage to personal property and
Former President Donald Trump has reiterated his plan to eliminate taxes on Social Security benefits for seniors, a move that has sparked controversy among policy experts. While Trump claims this measure will benefit retirees, critics argue that it could have negative consequences for Social Security and Medicare trust funds. Policy experts warn that Trump’s plan
Recent reports have shown that credit card debt in America is on the rise, reaching a record high of $1.14 trillion. This increase has been fueled by a variety of factors, including higher average balances per consumer and an increase in delinquency rates. According to experts, consumers are maxing out their credit cards, indicating that
In the midst of financial struggles faced by many retirees, there has been a growing call to exempt Social Security from income taxes. This issue has gained bipartisan support and has now become a focal point in the 2024 election. Former President Donald Trump and Minnesota Gov. Tim Walz, the running mate of Vice President
The recent data on the unemployment rate in July has raised some concerns among economists, particularly in relation to marginally attached workers. These individuals, as defined by the Bureau of Labor Statistics, are those who are available and willing to work, but have not actively sought out employment in the four weeks leading up to
The personal financial records of Vice President Kamala Harris have recently come under scrutiny as she vies for the presidency of the United States. Despite maintaining a relatively basic approach to their finances, experts have pointed out missed opportunities for tax savings and improved financial strategies in her recent tax filings. According to Craig Hausz,