Is it possible to pay zero in Federal Income taxes on a $150,000 income? The answer might surprise you.
The tax system in the United States might as well seem like a foreign language to most individuals. Vague statues. Obscure language. When you examine the tax system carefully it heavily favors those with higher incomes and those who invest. The investing part is not necessarily bad since Americans need to save more given the [...]
Really interesting data provided by Visualizing Economics regarding various tax rate structures across different scenarios. The data is put together using 2009 IRS data and gives us an interesting look at various tax scenarios in the U.S. We find a mix of progressive, regressive, and flat taxes across a multitude of fields. It also highlights [...]
California Total General Fund down $237 Million in August. Recent Estimates Put State in Deficit of $8 Billion for Next Year.
It only took a few weeks for California to miss its budget estimates again. The California State Controller’s Office released data for August receipts last week and the state is already under by $237 million from the recently revised budget figures. Keep in mind that the recent budget figures were completed in the midst of [...]