Small businesses that reimburse employees for the cost of premiums for individual health insurance policies or pay their health costs directly will be fined up to $36,500 a year per employee under a new Internal Revenue Service regulation that takes effect July 1, 2015.
According to the notice, an employer arrangement that reimburses or pays for employee individual health premiums is considered to be a group health plan that is subject to the $100 per-employee per-day penalty. The penalty applies whether the reimbursement is considered a before-tax or after-tax contribution.
In response to Sen. Rand Paul’s efforts to pass “Audit the Fed” legislation, Richard Fisher, outgoing president of the Federal Reserve Bank of Dallas, lashed out at the Kentucky senator last week. In an interview with The Hill, Fisher asked “Who in their right mind would ask the Congress of the United States – who can’t cobble together a fiscal policy – to assume control of monetary policy?”
How would America ever survive without the central planners in the Obama administration and at the Federal Reserve? What in the world would we do if there was no income tax and no IRS? Could the U.S. economy possibly keep from collapsing under such circumstances? The mainstream media would have us believe that unless we have someone “to pull the levers” our economy would descend into utter chaos, but the truth is that the best period of economic growth in U.S. history occurred during a time when there was no income tax and no Federal Reserve. Between the Civil War and 1913, the U.S.
With the Affordable Care Act to start enrollment for its second year on Nov. 15, some unpleasant surprises may be in store for some.
That's because a number of low-priced Obamacare plans will raise their rates in 2015, making those options less affordable. On top of that, penalties for failing to secure a health-insurance plan will rise steeply next year, which could take a big bite out of some families' pocketbooks.
WASHINGTON (MarketWatch) — Presidents should get the power to declare economic emergencies along the lines to declare war, said former Federal Reserve Chairman Ben Bernanke on Monday.
While the Fed retains the authority it needs to respond to another financial crisis, financial crises “tend to have a certain chaotic element to them,” that no one can predict, Bernanke said during a panel discussion sponsored by The Hutchins Center on Fiscal and Monetary Policy.
Look at this description of Detroit from today’s Observer:
What isn’t dumped is stolen. Factories and homes have largely been stripped of anything of value, so thieves now target cars’ catalytic converters. Illiteracy runs at around 47%; half the adults in some areas are unemployed. In many neighbourhoods, the only sign of activity is a slow trudge to the liquor store.
MURFREESBORO — The country should eliminate all income, corporate and payroll taxes and replace them with a consumption tax, Libertarian Party 2012 presidential nominee Gary Johnson told an audience today.
“I believe that our lives would be changed for the better,” Johnson, a former Republican governor of New Mexico from 1995 to 2003, said during his keynote address before the Libertarian Party of Tennessee State Convention at the Embassy Suites and Conference Center off Medical Center Parkway near Interstate 24.
I am going to attempt to convey some rudimentary knowledge on one of the most cryptic and esoteric institutions ever devised by man. That institution goes by the name of the Federal Reserve. You hear them referred to a lot by the media as merely “The Fed.” First of all, even the name is deceiving, as the Federal Reserve is neither Federal nor does it have any reserves. But what it does have is tremendous power. More power, in fact, than any politician or world leader.
Most people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization. He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in that role until 2017. The Bank for International Settlements is a rather boring name, and very few people realize that it is at the very core of our centrally-planned global financial system. So when Jaime Caruana speaks, people should listen.