Tax and Spend Tuesday, a roundup of news, views and policy proposals affecting your paycheck and pocketbook. Bye-bye tax cut? Remember President Trump’s 2017 Tax Cuts and Jobs Act? The largest overhaul of the tax code in three decades created a single (permanent) corporate tax rate of 21% and, in most cases, lowered the rates in the seven individual-income tax brackets. The tax benefits for individuals and families are set to expire in 2025. H&R Block reports the average tax cut was approximately $1,200, based on the returns it processed for … Continue Reading →

Tax and Spend Tuesday, a roundup of news, views and policy proposals affecting your paycheck and pocketbook! The $1.9 trillion COVID-19 package that passed the U.S. House and awaits Senate action has raised hackles in states that stand to benefit less – because their economies have been open – than states that implemented tough lockdowns. Georgia was among the first to reopen its economy, in April 2020, with Gov. Brian Kemp issuing some sensible direction in his executive orders and resisting the pressure from some local governments to shutter more … Continue Reading →

Tax and Spend Tuesday is a roundup of news, views and policy proposals affecting your paycheck and pocketbook! The election: It’s going to be a while before today’s election ballots are tallied and results are official. There will be a president, but the tax and spending plans, of course, depend on whether the president is a Democrat or a Republican. It’s like the old joke: “I told my friend that my brother is having a baby and he is asked if I knew whether I was going to be an … Continue Reading →

Tax and Spend Tuesday: October 20, 2020 Welcome to the inaugural edition of Tax and Spend Tuesday, a roundup of news, views and policy proposals affecting your paycheck and pocketbook! The candidates: Our friends at the Tax Foundation have analyzed the tax plans of the presidential candidates. Democrat Joe Biden promises to cut taxes for Americans earning less than $400,000. Those making more, however will face double-digit tax increases, including higher taxes on individual income, capital gains and payroll. He would also raise the 21% corporate income tax rate to … Continue Reading →