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Inflation Reduction Act won’t reduce inflation. That’s just one of its faults

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With Americans being crushed by inflation as the midterm election nears, desperate Democrats led by President Joe Biden are patting themselves on the back for passage of the Inflation Reduction Act. The IRS finally is going to be able to beef up its staff so it can do its job, including processing tax returns promptly and catching tax deadbeats.

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Rising interest rates have been a hot topic the past year, as the Federal Open Market Committee raises interest rates for the Federal Reserve system, the central bank of the United States. Jon Stewart, Retail Team Leader, Coastal Community Bank, said he talks to customers daily about their questions regarding interest rate increases. Stewart explained that…

Five of six South Florida residents who were indicted on charges that they defrauded investors out of millions by claiming the money would develop a mobile gaming application have now pleaded guilty. The scheme centered around a company called Social Voucher, formed in 2013 by co-defendants Gerald Parker, 73, of Juno Beach, and Michael Assenza, 44, of Boca…

He purchased a $1.5 million house for himself and his wife in Clarence, where he lived from 2015 to 2019, and bought another home for $738,000 in Florida for a relative. Pastor allegedly spent $294,000 on jewelry, $95,000 on furniture for a rented home in California and $57,000 on clothing at a high-end men's clothing store in Amherst. Their audacious lies,…

A Manalapan resident has been charged with defrauding victims in an investment fraud scheme out of at least $1 million and with fraudulently obtaining a loan of approximately $96,000 meant to help small businesses during the COVID-19 pandemic, U.S. Attorney Philip R. Sellinger announced on Aug. 17. He was scheduled to make his initial court appearance on Aug. 17…

In fact, according to recent Fidelity Investments ® research 2, more than half of American workers indicate they are“ extremely or very concerned” about the health and stability of the economy— and as a result, nearly 1 in 5 say they have adjusted their retirement strategy and are taking a more conservative approach to their retirement savings.

In some corners of the personal finance advice world, getting into debt is just about the worst thing you can do. "Good debt can help you move forward with your career and life," says Mark Reyes, a certified financial planner and senior manager of financial assistance at financial services app Albert. That's not a bad debt to have; it's going to put a roof over your head, "…

There's never a good time to have a lot of personal debt, but now would have to be one of the worst times. Since March, the Federal Reserve raised interest rates by a cumulative 225 basis points, or 2.25%. The high interest rates make credit-card and debt-consolidation programs attractive routes for consumers, said Bruce McClary, senior vice president of…

In addition to inflation, the role of Social Security insurance was also top of mind for many retirees, with 25% saying they'd be motivated to rejoin the workforce if Social Security no longer covered their expenses. "At a time when more retirees need additional income and employers need their expertise and experience, older workers continue to face hiring…

The legislation, which was approved by Congress last week, won't directly address some of the main drivers of surging prices— from gas and food to rents and restaurant meals. The nonpartisan Congressional Budget Office concluded this month that the changes would have a“ negligible” impact on inflation this year and next. Such forecasts also undercut the…

On August 10, 2022, the Securities and Exchange Commission obtained a final judgment against defendant Ross Barish, a registered representative at a broker-dealer located in Mineola, New York, whom the SEC previously charged with defrauding retail customers that resulted in over $800,000 in losses. The SEC's complaint was filed on August 13, 2020, in federal…

Angela Chevaux and her husband have made a good living in York, Pa. She's an insurance claims supervisor and he's in construction. But still, a recent inheritance from her father-in-law has been life-changing. He left them a retirement account, a life insurance policy, an annuity— and her husband and his brother inherited an old farmhouse in a secluded spot with a…

Over the course of my career, I've heard many people dismiss the importance of saving for retirement. It was often because they didn't think they'd live to a ripe old age. I like to remind them that when you retire you're giving up a steady income plus contributions to Social Security and dedicated retirement accounts.

Kansas has a retirement problem, and it's exactly what you think it is. More and more Kansans find themselves financially strapped as they grow older and Social Security replaces less of a retiree's income than it once did. For Kansas families, this creates quality of life decisions that are painful and demoralizing.

What tips can you recommend for choosing a good active adult housing community? My husband and I, who recently retired, are planning to relocate to an area closer to our grandkids and are interested in buying a house in an age-restricted 55- plus housing community. If you're contemplating moving into an age-restricted community, finding one that's right for you…

The bill, with Sinema's alterations intact, was given final approval by Congress on Friday and is expected to be signed by President Joe Biden this coming week. But the $983,000 she has collected since last summer more than doubled what the industry donated to her during all of her preceding years in Congress combined, according to an Associated Press review of…

Wall Street expects another mixed quarterly report card from Walmart. Last month, Walmart lowered its profit outlook for the second quarter and full year, saying shoppers have been cutting back on clothing and other discretionary items that carry higher profit margins. The National Association of Realtors issues its July snapshot of U.S. home sales Thursday.

Gas prices continued to fall Thursday as the national average reached $3.99 per gallon, falling below $4 for the first time since march, according to AAA. Thursday's rally, however, waned as the day went on, with investors looking ahead to expected interest rate hikes from the Federal Reserve in coming months. "Investors, while they're relieved that inflation is…