Romina Boccia For nearly 90 years, a widespread misconception has shaped how Americans view Social Security. Many believe that their payroll taxes are saved in a trust fund, to be drawn down when they retire. But in reality, Social Security has never operated as a savings system. Instead, it functions as an income transfer program, where the taxes collected from today’s ...
The Post Office has announced potential closures of 115 Crown Post Office branches, placing up to 1,000 jobs at risk in a significant restructuring aimed at reducing losses. The proposed changes may lead to franchise arrangements with third-party operators like WHSmith taking over affected branches. However, this shake-up has drawn sharp criticism from unions and community advocates. The Communication Workers ...
HMRC will reduce the interest rate it charges on late tax payments to 7.25% from 18th November, following the recent cut in the Bank of England’s base rate. However, this reduction highlights a stark disparity: taxpayers will receive only 3.75% interest on tax refunds, leaving a 3.5% gap in favour of HMRC. The revised interest rates apply to new tax ...
Celebrating the best in British business, the Lloyds British Business Excellence Awards last night honoured entrepreneur and style icon Trinny Woodall with its prestigious Inspiration Award. London’s Grosvenor Hotel set the scene for an evening celebrating Britain’s business elite at the Lloyds British Business Excellence Awards. With twenty categories spotlighting the country’s most innovative and resilient businesses, the ceremony’s highlight ...
House Republicans are gathering behind closed doors Wednesday to elect their leaders in the next Congress. Speaker Mike Johnson, R-La., Majority Leader Steve Scalise, R-La., and Majority Whip Tom Emmer, R-Minn., are all running for their current roles again with no stated challengers as of Tuesday afternoon. National Republican Congressional Committee Chair Richard Hudson, R-N.C., is also running for another ...
Just over a week after his sweeping election victory, former and future President Trump returns to the White House on Wednesday. Trump is returning to 1600 Pennsylvania Ave., his first time back in nearly four years, at the invitation of the man he knocked out of the 2024 White House race: President Biden. The two presidents will sit down in ...
Elon Musk, who was selected by President-elect Donald Trump to head the Department of Government Efficiency (DOGE) with former Republican presidential candidate Vivek Ramaswamy, shared some insight on X on Tuesday into how the department will operate. Musk said that the department will take suggestions and concerns from everyday Americans regarding how the government spends money. ‘Anytime the public thinks ...
Barclays has introduced the Business Prosperity Index, a new quarterly report offering a detailed view of UK business performance and growth opportunities. Created with the Centre for Economics and Business Research (Cebr), the index combines data from over one million Barclays business clients—including lending, cash flow, and international payments data—and survey insights from 1,000 business leaders, providing a comprehensive gauge ...
Tensions were high among House Republicans on Tuesday with a group of GOP hardliners threatening to protest Speaker Mike Johnson’s leadership during the next day’s House GOP Conference leadership elections. Three sources told Fox News Digital that members of the conservative House Freedom Caucus were exploring ways to show their discontent with House GOP leaders during the closed-door races to ...
President-elect Donald Trump announced on Tuesday that he will appoint South Dakota Gov. Kristi Noem to serve as secretary of the Department of Homeland Security (DHS) in his upcoming administration. Noem, who was once considered a potential running mate for Trump, has served as governor of the Mount Rushmore State since 2019. Before becoming governor, Noem was South Dakota’s at-large ...