I just turned 70…
Which means I’ll be receiving a special “birthday gift” from Uncle Sam for the first time.
Yes, I’m talking about my first Social Security check.
Even though I could’ve started taking Social Security eight years ago, I decided to wait until now since I’m still working and don’t need the money now.
Which is great because now I’ll get the maximum amount possible.
So, I’m glad I waited…
And I was even happier when I heard that in January, we’ll see an 8.7% increase in our Social Security checks with the cost-of-living adjustment (COLA) – the largest increase since 1981.
On the surface that sounds like great news, right? I mean, who wouldn’t want a bigger Social Security check?
However, the devil is in the details, especially when it comes to retirement income, government benefits, and taxes!
[Read more…] “Social Security’s Big Cost of Living Increase (COLA) Means MORE Taxes to Pay”
Updated March, 2022
Our national debt now exceeds the size of the entire U.S. economy, doubling just in the last decade. And it’s growing at a rate that will make your head spin, as a quick glance at the U.S. Debt Clock reveals:
The Congressional Budget Office (CBO) says this deserves attention
Americans will be paying for this for decades.”
Which Means that Higher Taxes are Inevitable and You Must Take Action TODAY to Protect Yourself from the Coming Tax Tsunami!
And the reality is that they can’t possibly raise enough revenue taxing just the “wealthy.”
Did you know that, according to the most recent data available, if you make $69,007 or more, you’re in the top 25% of wage earners? And if you make $118,400 or more, you’re in the top 10%.
As nice as it may sound to be in the top 10% or even the top 25%, it also means you’ve got a giant target on your back when the government is looking for more revenue to cover its obligations.
There are little-known, but legal ways to protect yourself from this tax tsunami, under current tax law. This article explains what you need to do today to shield yourself from some very unpleasant tax surprises down the road.
(Download a FREE Special Report that Reveals How to Bypass Banks and Wall Street, Gain Control of Your Money and Shield Yourself from the Coming Tax Tsunami) [Read more…] “6 Ways to Protect Yourself from Taxmageddon”
President-elect Joe Biden has repeatedly said he will increase numerous taxes and eliminate the Trump tax cuts on “day one,” which would impose a $2,000 annual tax hike on a median-income family of four.
He has promised to as much as double the capital gains tax rates on your investments.
Biden/Harris have proposed canceling student loan debt and are being encouraged to do that by executive order as soon as possible. It would add hundreds of billions of dollars to our already-skyrocketing national debt.
In reality, there’s no such thing as “canceling” or “forgiving” student debt – they can call it anything they want, but it simply means sending the bill to the taxpayers.
Biden wants to raise the corporate tax rate by 33%. [Read more…] “Taxmageddon is coming – Here’s How to Protect Yourself”