Current News
Hundreds Of Billions Lost As Major Cryptocurrencies—Including Bitcoin, Ethereum, Solana, Cardano—Tumble In Crypto Crash
Hundreds of billions has been wiped from the cryptocurrency market Tuesday amid a market-wide crash that has seen the prices of major cryptocurrencies—including bitcoin, ethereum, cardano and solana—plummet and fall sharply from near record highs this week. Read More.
Accounting games: Democrats are downplaying the price of their massive spending bill, watchdog says
Programs made temporary to cut hide real cost, tax enforcement revenue underestimated, budget watchdog says
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The Grassroots Corner November 15, 2021
🇺🇸 The Grassroots Corner - Week Beginning 11/15/21: “Meet Jeb Hanson” Read More.
New IRS rules for R&D credits causing angst
The Internal Revenue Service’s recent move to set new requirements for claiming refunds on research tax credits is provoking an uproar among tax professionals. Read More.
Education Department Announces $2 Billion Of Student Loans Will Be Cancelled Within Weeks
The U.S. Department of Education is cancelling another $2 billion of student loans.
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New York Fed’s Empire State manufacturing business index rebounds in November
The numbers: The New York Fed’s Empire State manufacturing business conditions index rose 11.1 points to 30.9 in November, the regional Fed bank said Monday. Economists had expected a reading of 22, according to a survey by The Wall Street Journal.
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Biden’s massive spending bill set to collide with debt ceiling, funding fights after CBO score delay
Defense authorization bill, government funding, debt ceiling and social spending bill will make December hectic, high-stakes month in Congress Read More.
Comparing two tax systems
Taxes can be collected in a number of ways: tariffs, value added tax (VAT), flat tax, negative income tax, consumption tax and income tax. Some 20 years ago, politicians were touting a flat tax as a way to simplify the tax code, revive the economy and promote growth. Read More.
The Chairman’s Report November 12, 2021
The Merriam Webster Dictionary defines crony capitalism as: an economic system in which individuals and businesses with political connections and influence are favored (as through tax breaks, grants, and other forms of government assistance) in ways seen as suppressing open competition in a free market.
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Inflation rose to 6.2% in October, the highest annual rate in 30 years
Consumer prices rose to 6.2% in the year ending October, the Department of Labor reported Wednesday, the highest rate of inflation in 30 years. Read More.
Independence Institute submits signatures for Colorado initiative targeting the 2022 ballot to lower the state income tax rate
On Oct. 29, 2021, the Independence Institute of Colorado reported submitting over 216,000 signatures for an initiative targeting the 2022 ballot to decrease the state’s income tax rate from 4.55% to 4.40%. Read More.
Infrastructure Bill To Be Signed By President Biden Includes Tax Provision Concerning To Cryptocurrency Community
On Friday, the House of Representatives passed a $1.2 trillion infrastructure bill in a 228-206 vote, sending the legislation to President Joe Biden for his signature. Read More.
IRS Announces Higher 2022 Retirement Account Contribution Limits For 401(k)s, Not IRAs
Inflation means you can—and probably should—contribute more to your workplace retirement account in 2022. Read More.
Democrats have no intention of making the rich pay their 'fair share'
For all their talk about raising taxes on the top 1% and forcing the wealthy to pay its “fair share,” Democrats have absolutely no intention of doing either. Read More.
Buttigieg: We’d Be ‘Closer to’ Wealthy Paying Fair Share with 50% Top Tax Rate
On Saturday’s broadcast of the Fox News Channel’s “Cavuto Live,” Transportation Secretary Pete Buttigieg said that top income earners would be paying “closer to” their fair share of taxes if their tax rate is raised to 50%. Read More.
