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What Are 2019’s Tax Brackets, and Who Gets Audited the Most?…

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The federal government taxes people based on how much they make each year. Seven tax brackets — based on income ranges — determine how much you pay…In addition to those brackets, there are four main categories, also known as “statuses,” that affect how you are taxed…

Americans Spent More on Taxes in 2018 Than on Food, Clothing and Health Care Combined…

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Americans on average spent more on taxes in 2018 than they did on the basic necessities of food, clothing and health care combined, according to the Bureau of Labor Statistics Consumer Expenditure Survey. The survey’s recently published Table R-1 for 2018 lists the average “detailed expenditures” of what the BLS calls “consumer units.” “Consumer units,” […]

McConnell: Congress Will Eventually Raise the Debt Ceiling…

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Congress will raise the nation’s debt ceiling, as the United States will never be allowed to default on its debts, Senate Majority Leader Mitch McConnell said, adding that reaching a deal between President Donald Trump and House Speaker Nancy Pelosi would be the best option to prevent chaos and the potential of shutdowns. The deal, […]

NYT Trump Taxes Story is Funniest News of Year (so far)…

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I can just picture the The New York Times gathering a team of actuaries, legal accountants, tax historians, advisers and financial consultants around a big executive office table, piled high with reams of papers and spent coffee cups, saying: “We’ve got him now…. as soon as people understand: fixed asset depreciation schedules; and if the […]

Bernie Sanders and Beto O’Rourke Give Almost Nothing to Charity…

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Last night, The Washington Post reported that Beto O’Rourke released his tax returns for the past ten years. Of course, the feel-good, inevitably government-expanding presidential contender should probably have been more hesitant to release his returns because it doesn’t take much sleuthing to figure out from them that the O’Rourkes made $370,412 in 2017 while […]

The Tax Cuts Didn’t Steal Your Tax Refund…

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Democrats like Sen. Kamala Harris and the media are spreading hysteria over smaller tax refunds this year and painting the Tax Cuts and Jobs Act of 2017 as the Grinch that stole your tax refund. The real problem is the lack of financial education among Americans that allows lawmakers to hoodwink taxpayers. Harris, a presidential […]

Government Report Reveals CBO Was Scandalously Off in Obamacare Estimates…

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A new report from government actuaries has revealed that the Congressional Budget Office was scandalously off in its estimates of the impact of Obamacare’s individual mandate, a miscalculation that has had significant ramifications for healthcare and tax policy over the past decade. CBO estimates about the importance of an individual mandate to a national healthcare […]

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