Tag Archives: Americans

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, September 21, 2022 Today’s newsletter is by Janna Herron, Yahoo Finance’s personal finance editor. Follow Janna on Twitter @JannaHerron. The Federal Reserve is largely expected to raise its benchmark interest rate by three-quarters of a point on Wednesday, following two other similarly sized hikes this year. Whether the central bank… Source link

Pushing yourself to save can be a challenge, but more and more consumers are tallying up their monthly expenses to find they have nothing left to save anyway. A recent study shows 58% of Americans report living paycheck to paycheck in May, up from 54% the same month last year. Of those earning $50,000 to $100,000, about 62% were stuck in this cycle. But it’s not just lower-income groups struggling to foot the bills, according to the report produced by payments and commerce platform PYMNTS… Source link

This is an op-ed from Charles P. Rettig, the 49th Commissioner of the IRS. As the nation’s tax administrator, the IRS plays a unique role in our nation. It can be a difficult job. After all, does anyone really like paying taxes? Of course not. But they’re essential to fund the roads we drive on, the schools our children attend, support our military and so much more. Unfortunately, given the nature of this work and historical stereotypes, the IRS is often perceived as an easy target for… Source link

It’s a deal set that is set to use hundreds of billion dollars over the coming decade to reshape the fight against climate change, how Obamacare works, the price of prescription drugs, and the U.S. tax code’s treatment of big corporations. Sens. Chuck Schumer (D-NY) and Joe Manchin (D-WV) surprised the world on July 27 when they released their sweeping bill known as the Inflation Reduction Act (IRA). Then on August 4, Sen. Kyrsten Sinema (D-AZ) propelled the deal closer to the finish line… Source link

It’s a deal set to raise over $800 billion in the coming decade for everything from fighting climate change to extending Obamacare. And it’s projected to bring down the deficit to boot. Sens. Chuck Schumer (D-NY) and Joe Manchin (D-WV) surprised the world on July 27 when they released a sweeping, 725-page bill known as the Inflation Reduction Act (IRA) — instantly resuscitating a key Democratic agenda item aimed at bringing down costs for the middle class. The compromise comes after… Source link

As the nation swelters through a summer filled with record-high temperatures, the Biden administration is unveiling a new set of actions intended to help Americans cope with the heat and the soaring electricity costs that accompany it. On Tuesday, the federal government launched Heat.gov, a website that promotes planning and preparedness for the extreme heat waves made more frequent because of climate change. The website is the public portal for the National Integrated Heat Health Information… Source link

Whether dodging taxes or legal peril, wealthy Americans often succeed in concealing assets from the government by hiding their money in offshore bank accounts. Research from the IRS and a group of economists last year found that the top 1% of earners in the U.S. neglect to report 20% of their income — and that random audits almost never detect offshore accounts. “The level of sneakiness around very wealthy American clients hiding their money abroad is kind of staggering,” best-selling… Source link

Gold medalist Fred Kerley, of the United States, center, stands with silver medalist Marvin Bracy, of the United States, right, and bronze medalist Trayvon Bromell, of the United States, after the final in the men’s 100-meter run at the World Athletics Championships on Saturday, July 16, 2022, in Eugene, Ore. (AP Photo/Ashley Landis) The American men swept the medals in the 100 meters at the World Athletics Championships on Saturday night. Fred Kerley was the gold medalist, out-leaning Marvin… Source link

Just 18% of Americans say President Biden should run for reelection in 2024, according to the latest Yahoo News/YouGov poll — the lowest number to date. Nearly two-thirds (64%) say he should bow out. And for the first time, more Democrats now say Biden should pass on a second term (41%) than say he should pursue one (35%). The survey of 1,672 U.S. adults, which was conducted from July 8 to July 11, represents perhaps the starkest evidence to date of the president’s deteriorating position… Source link

Lumber prices hit a nine month low as borrowing costs surge.Carolyn Cole/Getty Images Lumber prices are spiraling as red-hot house prices and the rising cost of mortgages is hitting affordability. Nearly 80% of National Housing Survey respondents reported now is the worst time to buy a home. It’s set to worsen as Americans foresee their financial situations deteriorating over the next year. Lumber prices have been on a steep decline as a combination of rising interest rates, record-high… Source link