It seems like taxes are unavoidable no matter what you are talking about, even if it is Social Security benefits, but the reality is that these taxes are relatively new. The federal government began taxing benefits in 1984 for those whose income exceeded a certain threshold. The measure was implemented after Congress completely overhauled the program to protect the Social Security trust fund from insolvency. When this new taxation policy started in 1984, only less than 10% of beneficiaries owed tax on their benefits, meaning only the wealthiest Americans had to pay, but since he thresholds have not been updated frequently to ensure they keep up with the cost of living, nowadays, according to data from the Social Security Administration (SSA), about 40% of beneficiaries now owe tax on their checks. Trump’s Social Security campaign promise During the election, Republican presidential nominee Donald Trump vowed to eliminate the tax declaring firmly on his social media “Seniors should not pay tax on Social Security ” He later repeated the premise in interviews, cementing it as part of his campaign promises. His base, comprised by seniors, hope to see this new policy implemented, although it may be more complicated and less effective than they expect. The first thing everyone should know is that Social Security benefits are not taxed on their own at the federal level (or at the state level, only nine US states have taxes on Social Security benefits ). What is taxed is combined income. Combined income is defined as the sum of adjusted gross income (AGI) plus nontaxable interest plus one-half of Social Security benefit, so for those who have no savings other than benefits, their income is already not taxed. For those who have some savings, the threshold is somewhat high to pay taxes, although some people may have to pay the lowest amounts. The SSA gives the following data so that seniors can see whether or not their benefits are taxed: Do remember that, in any case, only 50% of your benefits would be taxed, as the tax is on your combined income. Unfortunately for seniors the elimination of this tax is not likely to happen any time soon, Social Security is dealing with a shortfall and eliminating the tax on benefits would make the problem worse. The harsh truth about eliminating the tax on Social Security benefits Trump has not been the only one to suggest eliminating this tax, Rep. Angie Craig (D-Minn. ) introduced a bill earlier this year that would exclude Social Security from taxable income beginning in 2025 and even that piece followed many others. Congress has not approved any of them because of the evident lack of funds that Social Security is dealing with. The Social Security Board of Trustees estimates the funding shortfall at $22.6 trillion through 2098, but without help from Congress the Social Security trust funds would be depleted by 2035, making only 83% of scheduled benefits payable. This would be worse should the tax on combined income be eliminated, as it helps fund the program. While Trump’s idea panders to his base very well, the reality is that it is not a solid plan meant to work, as Rep. John Larson (D-Conn.) explained during an interview with CNBC in August. “He comes out and says he’s going to have a tax break but doesn’t say how he’s going to pay for that,” Larson explained. “In essence, his proposal would end up cutting the Social Security trust fund.”JuJu Watkins and No. 3 USC can't hold back No. 6 Notre Dame in first loss
In the fast-paced world of gaming, where technology evolves at lightning speed, ASX Vul is emerging as a groundbreaking force poised to redefine the future. Despite being under the radar, this visionary project integrates cutting-edge technology with the gaming ecosystem to enhance user experience and development processes significantly. ASX Vul is a platform designed to streamline the development of cross-platform games. By using advanced algorithms and an AI-powered framework, it allows developers to create games that seamlessly transition across various devices, be it PCs, consoles, or mobile. This convergence not only broadens the market reach for developers but also provides gamers with a consistent experience, irrespective of their chosen platform. One of the most innovative aspects of ASX Vul is its integration of blockchain technology. This enables a transparent and secure in-game economy, where players can own, trade, and sell virtual assets across games that support the ASX Vul ecosystem. This decentralization is set to empower players with true ownership, echoing a future where players are more than just consumers—they are stakeholders. Moreover, ASX Vul’s potential to offer scalable multiplayer solutions through cloud technologies addresses a vital need for modern games requiring vast data resources and real-time player interactions. With its promising blend of AI, blockchain, and cloud technology, ASX Vul stands at the forefront of the gaming revolution, ready to meet future demands and reshape how games are played and developed. Prepare for a new era of immersive and borderless gaming experiences. ASX Vul: The Future Pioneer in Cross-Platform Gaming and Player Empowerment In the ever-evolving landscape of gaming technology, ASX Vul emerges as a transformative platform set to redefine gaming’s future. Designed to streamline the creation of cross-platform games, ASX Vul blends advanced algorithms, AI, blockchain, and cloud technology to offer an unprecedented gaming experience. Features of ASX Vul 1. Cross-Platform Compatibility: ASX Vul excels in ensuring seamless gameplay across PCs, consoles, and mobile devices. This feature not only broadens market reach but also provides gamers with a consistent experience. 2. AI-Powered Framework: By utilizing AI technology, ASX Vul optimizes game development processes, allowing for efficient transitioning between different gaming platforms. This enables developers to maximize creativity without being bogged down by technical constraints. 3. Blockchain Integration: ASX Vul pioneers the use of blockchain to foster a transparent and secure in-game economy. Players can now own, trade, and sell virtual assets, granting them genuine ownership and involvement in the gaming ecosystem. 4. Scalable Multiplayer Solutions: Leveraging cloud technologies, ASX Vul addresses the growing demand for scalable multiplayer solutions. It caters to games with extensive data requirements and real-time interactions, ensuring smooth and immersive gameplay. Market Analysis and Trends With its innovative use of blockchain and cloud technology, ASX Vul is poised to capitalize on the growing trend of gaming as a decentralized and player-centric industry. The platform empowers players, transitioning them from passive consumers to active stakeholders in the gaming world. Predictions for ASX Vul The demand for cross-platform compatibility and secure in-game economies is expected to rise. ASX Vul’s unique offerings are likely to position it as a leader in bridging these market gaps, paving the way for broader adoption and innovation in the gaming industry. Security and Sustainability Aspects ASX Vul prioritizes security by using blockchain, enhancing the protection of virtual assets and online transactions. Its approach to gaming sustainability includes efficient use of cloud resources, potentially reducing the carbon footprint associated with extensive data processing. For more insights into innovative gaming technologies, visit the link name . As ASX Vul drives new trends in gaming, developers and players alike can look forward to a future where games are more immersive, interconnected, and equitable.
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Friends of the Earth Scotland, Oil Change International, and Stop Climate Chaos Scotland are among 29 groups that have signed a letter to the First Minister calling on developers to conduct a new environmental assessment. The new plant would be built next to the existing Peterhead station, and utilise carbon capture technology in a bid to reduce emissions. Research published by the non-profit group Carbon Tracker found that the project’s climate emissions could be five times higher than reported in official planning application documents. Campaigners say SSE and Equinor failed to account for the pollution created by extraction and transportation of the gas to be burned on site, or pollution produced when the carbon capture plant wasn’t working. Friends of the Earth Scotland climate campaigner Alex Lee said: “Ministers should be demanding the climate truth about the Peterhead gas project. “Research has exposed how the official planning documents are riddled with selective carbon accounting and wildly optimistic forecasts. “The Scottish Government’s lack of curiosity is astounding for a project that could be driving climate pollution and energy bills for the next 30 years. “New fossil fuel burning will critically undermine the energy transition and make it even harder for the Scottish Government to meet its climate commitments.” Since February 2022, the Scottish Government has been considering an application from SSE and Equinor to build a new gas-burning station with carbon capture next to the existing station. Climate campaigners have previously accused ministers of repeated breaches of the Ministerial Code in relation to their mishandling of the application and repeated meetings with the developers. They say that if approved, the Peterhead gas proposal would also lock Scottish households into paying energy prices set by international gas markets, prone to external shocks such as the war in Ukraine. Rosemary Harris, senior campaigner at Oil Change International said: “The UK has thrown £500m of public money at carbon capture schemes that have delivered absolutely nothing. “This isn’t an accident – it’s a pattern. With 80% of CCS projects worldwide either failing or stalled, the fossil fuel industry’s promises aren’t just empty, they’re expensive. “Every pound wasted on these failed schemes is a pound stolen from real climate solutions. We don’t need more costly experiments – we need proven, working solutions like renewable energy that can deliver for our communities today.” A Scottish Government spokesperson said: “It would not be appropriate to comment on a live application. “A decision will be taken by ministers in due course, following consideration of the application information, consultation responses and representations made by members of the public.” Get all the latest news from around the country Scan the QR code on your mobile device for all the latest news from around the country