Americans Better About Paying Credit-Card Debt in 1Q
Americans got better about paying their credit card debt on time in the first quarter, a period when many borrowers use income tax returns to tackle their holiday season debt.
payroll tax
Consumer Confidence Jumps on Better Outlook for Hiring, Pay
U.S. consumer confidence rebounded in April as Americans felt better about the outlook for the economy and their income prospects, the Conference Board says.
Hike in Payroll Taxes Hasn't Halted Consumer Spending -- Yet
U.S. workers' pay, already struggling to keep pace with inflation, was shrunk by an increase in Social Security taxes on Jan. 1, but consumers so far are stilling spending.
Olive Garden Owner Darden Restaurants Warns on 3rd Quarter
Darden Restaurants, struggling to draw more customers into its Olive Garden, Red Lobster, and LongHorn Steakhouse restaurants, said Friday that its third-quarter profit could fall below Wall Street's expectations and cut its outlook for the year.
Walmart Blames Taxes for February Sales 'Disaster'
Walmart released its fourth-quarter results Thursday morning, reporting a mixed bag on earnings and sales. But the big story of the day was the retail giant's February sales "disaster," which it blamed largely on tax issues.
7 New Social Security Rules for 2013
The Social Security Administration has implemented a variety of new rules and features for 2013. Here's a look at some of the recent Social Security changes that go into effect this year, and how they'll affect your payments.
Despite Deal, Taxes to Rise for Most Americans
While the tax package that Congress passed New Year's Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013. That's because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring.
Counterpoint: Soften the Blow of Social Security's Fall
Thanks to the expiration of the temporary payroll tax cut at the end of this year, President Obama has a historic opportunity to shore up Social Security. The Motley Fool's Chuck Saletta explains how this tax hike could be the best thing for the country.
Goodbye, Payroll Tax Holiday; Hello, Tax Hike for the 47%
Even if you're part of the 47% who don't pay federal income taxes, you probably do pay payroll taxes. A few years ago, President Obama and his allies in Congress cut you a break to ease the pain of the recession: a 2 percentage point payroll tax holiday. Well, the holiday is over.
What's Happening to Social Security Next Year?
If you're receiving Social Security benefits, your check will rise by 1.7% in 2013, thanks to that program's most recent annual cost-of-living adjustment. If, on the other hand, you're still working and paying into Social Security, your taxes are going back up next year.
Safety Net Success Stories: Four Former 47%-ers Speak Out
At some point in your life, were you a 47%-er? On the heels of a leaked videotape in which GOP presidential candidate Mitt Romney spoke harshly of those who pay no federal income tax, some now-successful Americans have been stepping up publicly to answer this question in the affirmative.
Pop Quiz: Who Are the 47%, and What Do They Really Pay in Taxes?
Mitt Romney's criticism of the 47% of Americans who don't pay federal income tax has re-energized the debate over who pays into our system, and who reaps its rewards. But the answers to those questions are trickier than you might guess. Think you know how the tax system really works? Take a peek at our quiz.
Is Social Security Becoming a Bad Deal for American Workers?
Here's a disturbing fact about Social Security you may not have heard about: For an increasing number of new retirees, the amount that Social Security will pay out in benefits will end up being less than the payroll taxes they paid in.
Social Security Not the Deal It Once Was for Workers
People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits after they retire. It's a historic shift that will only get worse for future retirees.
5 Intriguing (and Less Painful) Fixes for Social Security
When it comes to Social Security's woes, the potential cures discussed the most are unpleasant: Raise the retirement age, reduce payments, or raise the tax rate. Fortunately, those aren't the only options.
2011 in Business: 7 Stories That Affected You Most
Between debt ceiling debates, the crisis in the eurozone, and battles over tax rates, money issues filled the front pages in 2011. Here are our picks for the seven stories that most directly affected your wallet.
House Passes Payroll Tax Cut for Obama's Signature
The House has passed a two-month renewal of payroll tax cuts for 160 million workers and unemployment benefits for millions of jobless, giving President Barack Obama a resounding victory over Republicans who control the House. The Senate approved the bill earlier Friday.
House, Senate Show No Give in Payroll Tax Fight
House and Senate leaders traded demands Wednesday but remained mired in a bitter holiday-season stalemate that is threatening 160 million workers with Jan. 1 tax increases and millions of the long-term unemployed with an end to their benefits.
Bachmann Proposes Tax Hikes for All -- Reagan Style
On Thursday, GOP presidential candidate Michele Bachmann may have inadvertently made one of the boldest moves of the 2012 primary campaign. Speaking on Fox News, the Minnesota congresswoman stated that she wants to adopt Ronald Reagan's tax plan, a rate structure that's much higher than current tax rates.
Social Insecurity: Inside the 'Trust Fund' Illusion
Washington has been borrowing Social Security's surpluses for decades and issuing IOUs in return. However, the ability to pay those IOUs depends on the Treasury borrowing more money on global bond markets at affordable rates. That's hardly a sure thing.
Obama's Tax Deal Will Save At Least One Job: His
The $858 billion compromise tax bill passed the House Thursday at midnight, and is on its way to President Obama's desk. With its passage, and the GDP growth it will propel, his reelection is more in the bag than ever. What effect it will have on jobs for the rest of America, though, is far less clear.
Who Loses Under the Tax Deal? The Working Poor
President Obama insists that his agreement with Republicans will help working people avoid a pay cut. But as tax experts look at the full package more closely, it has become clear that low-end wage earners will indeed take a painful hit.
Health Care Reform's Hidden Tax on Annuities
The Obama administration is trying to encourage people to buy annuities for retirement. But a little-noticed provision of the new health care reform law slaps a 3.8% tax on payouts from certain annuities. And, not surprisingly, the life insurance industry isn't happy about that.
