Dangerous “Progressive” Tax Plan 2021
September 22, 2021
Behind closed doors and protected from average Americans by a newly reconstructed fence around the Capitol Building, Joe Biden, Nancy Pelosi, and Bernie Sanders recently hammered out their Taxation Wish List. In true Washington style, the euphemism American Families Plan, or AFP, was bestowed upon their List. The plan is to implement AFP in a […]
Did You Get the Dreaded IRS Math-Error Letter?
September 15, 2021
May 17, 2021, is long gone, and many of you probably forgot why it was an important date. Due to COVID-19 and other factors, the usual IRS April 15 tax filing deadline was extended for 2020 Tax Returns. Today, except for those taxpayers who filed for an Automatic Extension, 2020 Returns have been examined. Now, […]
Needless Evictions Coming?
September 8, 2021
Financial giant Goldman Sachs recently released a dismal report regarding potential upcoming evictions of American renters. According to Goldman, in the absence of government action, about 750,000 American households are subject to eviction by the end of the year 2021. This group owes their collective landlords about $17 Billion in back rent. Landlords, whether individuals […]
Be Responsible for Your Advisor Relationship
September 1, 2021
Becoming a responsible Client is partly about your financial advisor, who must (but may not) be honest, but the onus is on you, the Client, who must remain alert. Looking out for Number One (that’s you, the Client) requires attention. While realizing an appropriate return on your investments over time is the important objective, not […]
Is Your 401(k) Underworked?
August 25, 2021
Average American workers miss out on $1,336 annually of “free” money. According to Fidelity Investments, that is the amount that workers fail to receive in 401(k) employer matching funds every year. This is due to insufficient salary deferrals by working people, who are not contributing enough to reach the employer’s contribution matching limits. Failure to […]
About Unnecessary Inflation
August 18, 2021
August’s release of the July Producer Price index (PPI) showed an increase of 1.0% for July, following an increase of 0.8% in June. The earlier Consumer Price Index (CPI) showed annualized gains of over 6% and accelerating. Gasoline at the pump is up about $1.01 per gallon since this time last year. Inflation is here, […]
Deniers of Inflation are Fueling Inflation
August 11, 2021
Americans everywhere are talking about the elephant in the room, but Congress and the Biden Administration remain in denial. Ditto the Federal Reserve (FED). That beast is inflation, and only Americans of a certain age can remember the last time consumer prices escalated with the ferocity we are experiencing today. Our current situation was not […]
Can Social Security be Fixed?
August 4, 2021
Social Security is going broke. It needs to be fixed, and quickly, or future benefits will be sharply reduced. That would be extremely unpopular among the high-voting population we affectionately call “Seasoned Citizens.” Currently, that population is about 61 million strong. Congress created the Social Security System, and, unfortunately, only Congress can fix it. For […]
Warning About the New Child Tax Credit
July 28, 2021
Bank accounts of millions of Americans received a boost in July, as IRS issued the first round of payments under a new Child Tax Credit program. Roughly 60 million parents received Child Tax Credit payments in July, and others may be eligible. The new payments range up to $300 per child for eligible families. Similar […]