The future of Bidenomics: You pay Social Security tax on all of your income?
foxbusiness.comBarron's senior writer Al Root, reporter Carleton English, and deputy editor Ben Levisohn discuss social security and the potential for revenue to be boosted by increasing taxes on earners above $400K.
It’s unfortunate that most politicians and economists don’t explain our $34 trillion of debt in a simpler fashion, but I’ll offer some insight on how the basic math works.
If you really understand the math, it’s not hard to deduce what outcomes may be here in the future. With another four years of Bidenomics, you can be certain both at the individual level and the corporate level that a perpetuity tax on Social Security will become front and center. Here's why.
The Social Security Board of Trustees estimates that in 2041, the Social Security Trust Funds will be depleted.
If you think about the government like a business (a badly run one), we really have three broad ways we bring in income since the government doesn’t sell cheeseburgers and we don’t make money putting things on Amazon. Here’s what they are:
SMALL SOCIAL SECURITY COLA COULD LEAVE RETIREES STRUGGLING TO GET BY NEXT YEAR
On the opposite side of the ledger, we run an annual fiscal deficit of roughly $1.8 trillion and here are the top four expenses.
Rep. Brian Fitzpatrick, R-Pa., and former investment banker Carol Roth discuss how Americans are being destroyed by inflation and the ‘negligent’ monetary policies on ‘The Evening Edit.’
Unfortunately, most of us don’t have a printing press in our basement that will spit out thousands of dollars let alone the trillions of dollars of money we print on what seems to be a regular basis. So, how do you clean up this mess? How do you potentially «balance» the budget?
The simplicity of this is that you either have to
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