Did it thrill you to see your children cash their first paycheck? Do you display that special kind of inner pride knowing your children have that special kind of responsibility that makes employers want to hire them despite their young age? Then hold on to your seats, it’s about to get a whole lot more
Taxes
Everyone likes free stuff, no matter who they are, and the Academy Awards every year hands out pricey gifts. Maybe things are more austere this year, since a gift bag for top nominees in the past has been jam-packed and worth $205,000. This year, it’s a more svelte $140,000 worth of stuff, but that’s still
Topline As part of his proposed budget for the upcoming fiscal year, President Joe Biden on Monday released a proposed minimum income tax rate applying to the highest-earning Americans, marking the first time the White House has ever directly targeted billionaire wealth after a similar Democrat-proposed measure failed to move forward last fall. Key Facts
President Biden is unfurling his proposed “Billionaire Minimum Income Tax,” as part of his new budget, but his chances of success remain murky. Not even all democrats are likely to agree. As he unveils a new tax on billionaires, it is supposed to “ensure that the very wealthiest Americans pay a tax rate of at
Today’s Social Security column addresses questions about how and when COLAs are applied, switching to spousal benefits after early retirement benefits and divorced survivor’s benefits before retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. Shouldn’t My Age 70 Benefit Estimate Increase