Secure Act 2.0: Further Bastardization of Good Legislation to Benefit the Rich

In its original form, the Employee Retirement Income Security Act of 1974 (ERISA) and its offshoots, including individual retirement accounts (IRAs), was an extraordinary piece of legislation. It created vehicles for workers not covered by pensions to save for retirement on a tax-advantaged basis. They could establish an IRA simply by filling a form.  Unfortunately, over the years, ERISA’s were hijacked by Wall Street. What … Continue reading Secure Act 2.0: Further Bastardization of Good Legislation to Benefit the Rich »

Billionaire Income Tax Could Eliminate Tax on First $17,500 of Income for All Americans ($35,000 for Married Couples)

Some of you might remember that, prior to the Trump tax cuts for the rich in 2017, you were able to claim a personal exemption on your taxes that eliminated income tax on the first $4,050 in income ($8,100 for couples).  It was a big help to many of us, but Trump did away with the personal exemption for working Americans as part of his … Continue reading Billionaire Income Tax Could Eliminate Tax on First $17,500 of Income for All Americans ($35,000 for Married Couples) »