Rising prices are eating into the earnings of Americans, with inflation outpacing wages for the seventeenth month in a row in August during the Biden administration. The 12-month Consumer Price index (CPI), which measures inflation over a one-year period, came in at 8.3 percent in August, according to data from the U.S. Bureau of Labor…
Soaring Inflation Gave Americans a Wage Cut for Seventeenth Month in a Row in August
7 Tips For Keeping Harmony In Your Relationship If One Spouse Retires First
Retirement looks pretty distant when you start your career until it’s suddenly around the corner. Dedicating more than half of your life doing your dream job, pursuing your passion, or just working to sustain your daily needs, it is not easy to turn off the ignition and hand over the key to someone younger. Well,…
Americans’ Incomes Decline for Second Year in a Row Amid Soaring Inflation
September 14, 2022
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Business & Marketseconomyhousehold incomeincome inequalityinflationpersonal financepoverty ratesU.S. Census BureauUSUS News
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The real median 2021 household income of Americans, recorded at $70,784, was down for a second year in a row, while poverty crept up as the country battles inflation at a 40-year high, according to numbers released on Sept. 13 by the U.S. Census Bureau in its annual report on the nation’s financial well-being. Compared…
The 10 Most Important Questions to Ask When Choosing a Retirement Community
When it comes time to choose a retirement community, there are many factors to consider. You need to start by deciding what you want and what you expect to get out of joining a community. This involves everything from your budget, age, state of health and healthcare needs, geographical location and, of course, your particular tastes and…
How Major US Stock Indexes Fared Tuesday Sept. 13, 2022
The stock market fell the most since June 2020 following Wall Street’s humbling realization that inflation is not slowing as much as hoped. The Dow lost more than 1,250 points and the S&P 500 sank 4.3 percent. A hotter-than-expected report on inflation Tuesday has traders bracing for the Federal Reserve to ultimately raise interest rates…
Closing Prices for Crude Oil, Gold and Other Commodities (Sept. 13)
September 13, 2022
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Benchmark U.S. crude oil for October delivery fell 47 cents to $87.31 a barrel Tuesday. Brent crude for November delivery fell 83 cents to $93.17 a barrel. Wholesale gasoline for October delivery rose 4 cents to $2.48 a gallon. October heating oil fell 6 cents to $3.54 a gallon. October natural gas rose 3 cents…
Investing: How to Play a Shifting Economy
September 13, 2022
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By Kim Clark From Kiplinger’s Personal Finance U.S. companies prospered for decades as new markets opened for their goods and labor costs plummeted thanks to overseas production. But now, the pandemic and spreading political and military conflicts have stretched supply chains past the breaking point, prompting companies to bring many operations closer to home, says…
IRS to Shell Out $1.2 Billion to Taxpayers in Forgiven Penalty Fees, Here’s Who Qualifies
The Internal Revenue Service (IRS) is sending $1.2 Billion in refund or credits to more than a million Americans who filed their taxes late in the first months of the pandemic, according to an announcement on Sept. 12. Americans who missed the deadline for their 2019 or 2020 tax returns, and who have already paid…
These Are the Cities Where Inflation Is Rising the Most
September 13, 2022
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AtlantaBusiness & Marketsconsumer price index (CPI)Dallaseconomyfood pricesgas priceshigh inflationinflationpersonal financephoenix arizonaRegional-Local NewsTAMPAUSUS News
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As Americans deal with decades-high inflation, some regions of the country have been hit harder than others, such as the Arizona cities of Phoenix, Mesa, and Scottsdale; the Florida cities of Tampa, St. Petersburg, and Clearwater; and the Texas cities of Dallas, Fort Worth, and Arlington, according to official numbers released by the U.S. Bureau…
How Will Increased IRS Staffing Affect Americans?
September 13, 2022
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BrightInflation Reduction ActIRS auditsIRS Staffpersonal financePolicies & ImpactstaxUncategorizedUSWealth Management
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The Inflation Reduction Act is adding 87,000 IRS agents. With current staffing at 79,000, this more than doubles the IRS roster. This will return IRS personnel numbers to 1990 levels. The argument for the increase is tax enforcement of wealthy individuals and corporations. The projections and arguments may not hold up when analyzed. How will…
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