If you’ve noticed prices at the pump rising over the past few weeks, you’re not alone. Gas prices have recovered from their normal post-Labor Day slump and are now higher than they were just a few weeks ago, and anywhere from 8 to 32 cents more per gallon than they were a year ago. High oil prices are to...
With the recent passage of the tax reform bill by Congress, deductions for state and local taxes will be capped at $10,000 per year from 2018 onward. For homeowners in many wealthy areas of the country, including the Washington, DC area, that is less than the amount they pay annually on property taxes. And for those who own multiple...
While most of the provisions of the newly-enacted tax reform bill were good ones that will help most taxpayers, there is one that has gotten less publicity that won’t benefit taxpayers. That’s the use of chained CPI rather than regular CPI. And if things continue as they have been, that could cost taxpayers down the road. Tax brackets have long...
There has been a lot of hand-wringing about the effects of the newly-enacted tax reform bill. While most households will see a significant cut in their tax payments, there will be many households who will see their taxes increase. Most of that is due to caps being placed on mortgage interest deductions and deductions for state and local taxes,...
The majority of American households should see a gain in the amount of money they’re allowed to keep under the recently passed tax reform plan. Because of the lowering of tax rates, the expanded thresholds for tax brackets, and the doubling of the standard deduction, many households can expect hundreds or even thousands of dollars in reduced taxes next...
Counterfeit coins were once the bane of shopkeepers and their customers all across the world. There’s no worse feeling than selling your goods and suddenly realizing that the coins you’re holding in your hands aren’t really the gold or silver you thought they were. Thanks to the decreased usage of coins in commerce in recent times, it’s been mainly...
In a worrying sign for the fiscal health of American households, debt levels continue to increase. Levels of credit card debt have increased 8% from last year, rising to a total of $905 billion. That works out to an average of over $15,000 in credit card debt per household. While that figure is alarming, it pales in comparison to other...
Janet Yellen’s final press conference as Chairman of the Federal Reserve’s Board of Governors underscored everything that is wrong with the Fed and with the modern economics profession. Two particular examples demonstrate that, far from being able to lead the country’s economy, the Fed and modern macroeconomics is hopelessly lost and not at all able to find its way. The...
Deutsche Bank’s chief international economist recently published a list of the top 30 risks to financial markets in 2018. While many of them are only of importance to sophisticated financial investors who take positions on certain market movements, some of the bigger picture issues could cause broader risks to the market that could affect Mom & Pop investors. Here...
The government shutdown drama has come to an end… for the next two weeks. Kicking the can down the road yet again, Congress has authorized a two-week spending bill, meaning that come December 22nd this whole mess will be back in the headlines yet again. The thinking behind a two-week bill is that having a deadline so close to...
