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He Spent Down the Roth First to 'Save' the IRA for His Kids. He Left Them a $120,000 Tax Bill Instead of a Tax-Free Account
10+ hour, 15+ min ago (540+ words) Saving the Roth for the kids sounds generous, but a rule most retirees missed in 2020 turned that good intention into a six-figure tax burden spread across a decade of their children's peak earning years. Life After Work desk. Editor: David…...
U.S. Debt Doubles Under Trump and Biden -- Now Exceeds $40 Trillion
2+ day, 13+ hour ago (548+ words) Federal debt just crossed a threshold no Treasury ledger has ever seen, and the speed of the final trillion reveals something about where the money is actually going and who is paying for it. The professional research desk has always…...
Broad Payer & Consumer Coalition Urges Congress to Close Loopholes in No Surprises Act That Inflate Health Costs
2+ day, 14+ hour ago (537+ words) Families USA Broad Payer & Consumer Coalition Urges Congress to Close Loopholes in No Surprises Act That Inflate Health Costs Two new issue briefs highlight the abuse of the appeals process by private equity and corporations, and also successful solutions at…...
US federal budget deficit reaches $2 trillion
2+ day, 19+ hour ago (142+ words) atlaspress.news Estimates from the Congressional Budget Office show that the US federal budget deficit reached $2 trillion in the first 11 months of fiscal year 2026 According to the estimate, the newly recorded figure is only $6 billion less than the deficit in…...
US' record-breaking $40 trillion national debt raises global concern
3+ day, 4+ hour ago (660+ words) The US Department of the Treasury must find immediate ways to reduce the record-breaking national debt of over $40 trillion, or "feel the pain" of dealing with it later on, warned economists, who said if it remains high it will affect…...
Every Babysitting Dollar Her Granddaughter Earned Since 14, Grandma Has Matched Into a Roth. The Girl Is 22 and Has Never Paid a Cent of Tax on an Account That Will Outlive Grandma by Sixty Years
3+ day, 5+ hour ago (850+ words) A grandmother found a rule buried in the tax code that lets someone other than the child fund a retirement account in that child's name, and she has been quietly using it since her granddaughter was fourteen. Most families who…...
US National Debt Now Exceeding GDP
3+ day, 9+ hour ago (103+ words) NC Scout is the nom de guerre of a former Infantry Scout and Sergeant in one of the Army’s best Reconnaissance Units. He has combat tours in both Iraq and Afghanistan. He teaches a series of courses focusing on small…...
Commentary: Soaring debt is bucket of ice water
4+ day, 5+ hour ago (642+ words) The recent news that our national debt has swollen to $40 trillion should be the “bucket of ice water” America needs to finally address our financial woes. Our nation is on an unsustainable borrowing trajectory, and it is getting much worse....
The US has a $40 trillion debt crisis. Billionaire Warren Buffet knows how to solve it
4+ day, 19+ hour ago (704+ words) America had a headline-grabbing milestone this summer. Unfortunately, it wasn’t our America 250 celebration. Rather, it was passing the $40 trillion mark on our national debt. $40 trillion is a number that is very difficult to get your head wrapped around. It’s more…...
Commentary: Why America’s debt binge is starting to matter
5+ day, 6+ hour ago (430+ words) If long-term interest rates decisively breach the 5 per cent threshold, the impact could derail the AI boom, says Ruchir Sharma for the Financial Times. NEW YORK: Doomsday warnings about America’s rising debt date to the 1970s, when the US government began…...