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Vice President Kamala Harris has recently proposed higher taxes on wealthy Americans and corporations, aligning her economic agenda with that of President Joe Biden. This includes a 25% minimum tax on total income, which would also target unrealized gains exceeding $100 million. However, experts are skeptical about the feasibility of this plan gaining traction. Wealth
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The latest research from Bank of America indicates that travel spending among American households is exceeding pre-pandemic levels, largely due to a growing interest in international trips. Economists Taylor Bowley and Joe Wadford note that vacationing abroad is a significant factor in the current trend, with spending up by 10.6% per household compared to 2019.
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The concept of automated 401(k) plans has been widely embraced by employers in recent years. However, new research reveals that the positive impact of these initiatives may not be as significant as previously assumed. A study published by the National Bureau of Economic Research highlights overlooked factors that diminish the long-term effectiveness of policies like
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As the season of fall foliage and pumpkin spice lattes approaches, the job market may also be turning over a new leaf. Career experts have noticed a trend known as the “September surge,” where more job postings become available after Labor Day. This surge is attributed to the end of a summer slowdown when job
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Retirees who are concerned about the rising costs of prescription drugs have a glimmer of hope on the horizon. Starting in 2025, Medicare drug plan enrollees will have their annual out-of-pocket drug costs capped at $2,000. This change is expected to bring significant relief to participants in Medicare drug coverage, also known as Medicare Part
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Many investors are aware of asset allocation, where they balance stocks and bonds to manage investment risk and return. However, another crucial aspect that is often overlooked is asset location. This strategy focuses on minimizing taxes to enhance after-tax returns, particularly for wealthier investors. Asset location is especially beneficial for investors in the 24% federal
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The U.S. Department of Education recently announced additional details about the rollout of the new Free Application for Federal Student Aid (FAFSA) for the upcoming academic year, aiming to address the issues that plagued the previous college aid application cycle. The 2025-2026 FAFSA will undergo a phased rollout, starting with beta testing for limited student