What to know about proposed Biden tax on the wealthy to fund Medicare
President Joe Biden delivers remarks on his plan to protect Americans access to affordable health care in Virginia Beach, Virginia, on Feb. 28, 2023.Saul Loeb | AFP | Getty ImagesPresident Joe Biden this week called for higher taxes on wealthy Americans to boost Medicare as part of his 2024 budget, aiming to help fund the […]
Amid stubborn inflation, 60% of Americans live paycheck to paycheck
Despite higher prices, consumers are still spending, although not as much as they were a year ago, which is giving their budgets some breathing room.As of January, 60% of all U.S. adults, including 45% of high-income earners, were living paycheck to paycheck, according to a new LendingClub report. That’s down from 64% a year earlier, suggesting […]
1 in 6 retirees are considering a return to the workforce
Mixetto | E+ | Getty ImagesFor some retirees, heading back to work has emerged as an aspiration.Roughly 1 in 6 retired Americans say they are mulling over whether to get a job, according to a recent study from Paychex. On average, those “unretiring” individuals have been out of the workforce for four years.The top reasons […]
Opinion: Bernie Sanders and Elizabeth Warren’s bold tax hike to shore up Social Security
Elizabeth Warren and Bernie Sanders want to shore up Social Security by raising the top rate of income tax by a third, and the top rate of capital-gains tax by more than a half. The Democratic senators have made the proposals in a new bill that would balance Social Security’s books, and expand benefits. It […]
More Auto Payments Are Late, Exposing Cracks in Consumer Credit
MarketsFinanceBorrowers with low credit scores fall behind in numbers unseen since 2010 Source link
54% of Americans are dipping into savings to pay for everyday expenses
Inflation is still taking a hefty toll on households, recent reports show.Prices continued their upward momentum in January, rising 0.5% for the month and 6.4% over the past 12 months, according to the latest consumer price index data released by the U.S. Bureau of Labor Statistics.To make ends meet, 27% of Americans said they’ve had to take money […]
Wholesale egg prices have ‘collapsed’ from record highs in December
Egg shelves in New York on Jan. 21, 2023 with a note apologizing to customers for the price increase.Fatih Aktas/Anadolu Agency via Getty ImagesWholesale egg prices have cratered in recent weeks from record highs, meaning consumers may soon see relief at the grocery store.But the dynamics of egg pricing from the wholesale to retail market, […]
Households Burn Through What’s Left of Their Pandemic Savings
The cushion of savings many built up during the pandemic is thinning out. In some households, it is already gone.Americans have spent down about 35% of the extra savings they accumulated during the pandemic as of mid-January, according to an estimate from Goldman Sachs. By the end of the year, the company forecasts that they […]
What happens to my youngest daughter’s share of my estate if I die before she’s 18?
Dear Harry, I’m a divorced single mother with three daughters. The older two are married and live separately from me. The youngest is under 18 and lives with both myself and her father (my ex-husband). I currently do not yet have a will. If I died, would any of my assets go to my ex-husband […]
Chinese moviegoers — starved for entertainment and craving normalcy — are set to put the country’s film industry back on top
While global and domestic businesses eagerly await the return of Chinese consumer spending, one industry in particular is already doing gangbusters. China’s box-office receipts this year have hit the 10 billion yuan ($1.5 billion) mark — the earliest in any year that it has ever done so. The explosion of moviegoing comes as authorities in […]