County in Illinois Establishes Permanent Guaranteed Basic Income Program
Cook County Makes Basic Income Program Permanent Cook County, Illinois, has decided to make its basic income guarantee program permanent after launching it as a pilot in 2022, supported by federal COVID-19 relief funds. Last week, the Cook County Commission approved a budget of $7.5 million to solidify the program, according to reports. Notably, Cook […]
Cook County in Illinois creates a lasting guaranteed income initiative
Cook County Launches Permanent Basic Income Program The second-largest county in the U.S., Cook County, has recently established a permanent basic income guarantee program. This follows the results of a previous pilot project that garnered attention. Last week, the Cook County Commission approved a budget of $7.5 million to support this initiative. For context, Chicago, […]
Rising prices hinder US income increases before the holiday shopping season
Inflation Impacting U.S. Incomes Ahead of Holidays Inflation is currently straining U.S. incomes similarly to how it did during the Great Recession of 2008, potentially diminishing consumer purchasing power right before the important holiday shopping season, as outlined in a report from JPMorgan released on Tuesday. As of October, the median income growth for individuals […]
Treasury Department Introduces Regulation to Stop Unauthorized Immigrants from Obtaining Income Tax Credits
Treasury Department to Restrict Tax Credits for Undocumented Immigrants The Treasury Department, under President Trump’s directive, intends to introduce new regulations preventing undocumented immigrants and foreign nationals from obtaining significant earned income tax credits like the Earned Income Tax Credit and the Supplemental Child Tax Credit, as reported by Breitbart News. In a statement on […]
Social Security for Fiscal Year 2025: Trust Fund Amount, Income, Expenses, Deficit, and Interest Rates
Benefit Payments Up, Deficit Doubles as Income Stagnates This year, the Social Security Trust Fund, officially known as the Old Age and Survivors Insurance (OASI) Trust Fund, saw some significant changes thanks to the Social Security Fairness Act, which President Biden signed on January 5, 2025. This new law expands benefits for certain retirees—particularly those […]
Understanding how retirement income is taxed: It may be more than you realize.
Understanding Taxes in Retirement You likely have a handle on your retirement savings, but do you know what your tax obligations will look like once you retire? “Not knowing the tax implications of your savings and investments can lead you to underestimate your spending power in retirement,” notes financial advisor Ryan Tucker, who leads BOSS […]
Looking for Long-Term Passive Income? Here are 3 Stocks to Purchase and Keep Indefinitely.
AbbVie stands out as a dividend king, showcasing a positive outlook. Enbridge provides a notably steady dividend. Realty Income boasts a high dividend yield and promising growth prospects in Europe. 10 stocks we like better than AbbVie › The concept of passive income is appealing—just sit back and let the money flow in. Though, achieving […]
Silicon Valley suggests universal basic income as a solution to job loss from AI.
Silicon Valley’s Vision for the Future Silicon Valley is envisioning a future shaped by its own decisions. With the rise of AI leading to significant layoffs in white-collar jobs—as seen last month with numerous tech companies announcing reductions—universal basic income (UBI) is once again being discussed. Influential figures in tech, including Sam Altman, Elon Musk, […]
IRS reveals income limits for Roth IRA in 2026
The IRS Announces 2026 Roth IRA Contribution and Income Limits The IRS has released its updated contribution and income limits for Roth Individual Retirement Accounts (IRAs) for the year 2026. In a recent announcement, the agency raised the IRA contribution limit to $7,500, up from $7,000 in 2025. Additionally, the catch-up contributions for investors aged […]
Suozzi suggests increasing federal income taxes for New Yorkers and US residents earning $400,000.
Mixed Messages on Taxation from Long Island Rep. Tom Suozzi It seems like Long Island Representative Tom Suozzi wants to navigate a tricky path when it comes to taxation. He identifies as a moderate who’s against socialism, yet he’s advocating for higher taxes on affluent individuals. However, his views don’t quite align with those of […]