Moving and Retirement
FactCheck: Trump Likely Benefits from Tax Bills
Estate tax. The clearest benefit for the Trump family would be the tax bills' changes to the estate tax, which falls on estates worth more than $5.49 million (nearly $11 million for a couple). The House bill would repeal the estate tax entirely in 2024. As we’ve written before, that would save Trump’s estate $564 million, according to a Bloomberg estimate, based on a net worth of $3 billion. Trump has said his net worth is $10 billion, and if so, the savings to his estate from a repeal of the tax would be $1.9 billion. more »
How Far Have We've Come? Janet Yellen, Her Resignation and the Current Economic Outlook
Janet Yellen before the Joint Economic Committee, US Congress "With the job gains this year, 17 million more Americans are employed now than eight years ago. Meanwhile, the unemployment rate, which stood at 4.1 percent in October, has fallen 0.6 percentage point since the turn of the year and is nearly 6 percentage points below its peak in 2010. In addition, the labor force participation rate has changed little, on net, in recent years, which is another indication of improving conditions in the labor market, given the downward pressure on the participation rate associated with an aging population." more »
In States, the Estate Tax Nears Extinction: Countering Arguments That Eliminating the Estate Tax Was a Gift to the Wealthy
The New Jersey tax compromise included a 23-cents-per-gallon hike in the gas tax, bringing it to 37.5 cents a gallon. The legislation also cut $1.4 billion in other taxes, including income taxes on elderly residents who can now exempt the first $100,000 of retirement income (a couple) from state income tax. Supporters said the tax break for middle-income seniors was a way to counter arguments that eliminating the estate tax was a gift to the wealthy. New Jersey took in nearly $320 million in estate taxes in 2014. The increase in the gas tax is expected to raise more than $1 billion a year. more »
A Pew Research Center Report: Wide Partisan Gaps in US Over How Far the Country Has Come on Gender Equality
Americans across demographic and partisan groups agree that women should have equal rights with men. About eight-in-ten Americans (82%) say it is very important for women to have equal rights with men in our country, and another 14% say this is somewhat important. Just 4% of Americans say gender equality is not too or not at all important. Asked whether the country has gone too far, not gone far enough or been about right when it comes to giving women equal rights with men, half of the public says the country still has work to do, while 39% say things are about where they should be; one-in-ten Americans believe the country has gone too far in giving women equal rights with men. These views differ by gender, education and, most of all, partisanship. more »