Middle class seniors forced to pay for that 40% corporate tax cut with reductions to Medicare

Happy holidays came a few days early for big corporations and rich shareholders. Their income tax rate in 2018 will drop from 35% to 21% - exactly a 40% decrease. Next year, Medicare premiums will go from $109 to $134 per month - a 23% increase in one year. This additional deduction from Social Security … Continue reading Middle class seniors forced to pay for that 40% corporate tax cut with reductions to Medicare

Seniors – get divorced and save on income taxes?

Now that nearly everyone, of every persuasion, seems to want to be married, seniors should advise the newly matrimonial-prone that true love expressed can cost you big bucks, when dealing with Uncle Sam. Here is a mock 1040 for a mythical single filer Herman Schmidlap: Herman is filing single, and the return would be the … Continue reading Seniors – get divorced and save on income taxes?

Medicare tax gets you mandatory program for health insurance that costs fortune in co-pays, deductibles

The usual self-centered politicians and their masters at Fix the Debt, Libertarian Caucus, Tea Party and Fox News, along with a pack of pitiful former government officials like Ed Rendell, this week bemoaned the so-called "doc fix", which brings Medicare payments to providers up to miserable levels, instead of a 21%  cut. That reduction in … Continue reading Medicare tax gets you mandatory program for health insurance that costs fortune in co-pays, deductibles