Government Rebates and Payments

2012 Food Stamp (SNAP) Income Eligibility Levels, Deductions and Benefit Allotment Payments

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The Federal Food Stamp Program is now known as the Supplemental Nutrition Assistance Program (SNAP). Eligibility for SNAP depends on things like the number of people in your household, income, and resources (cash, bank accounts, etc…). Income includes money earned from work. It also includes benefits like Social Security and unemployment. The following table shows [...]

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2012 Medicare Part B Monthly Premiums By Income Levels And Tax Filing Status

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2012 Medicare Part B monthly premium rates that cover hospitals plus physician and outpatient expenses, are shown in the following table (by individual and joint filers) and reflect the 2012 COLA increase. The standard Medicare Part B monthly premium ($99.90) for existing beneficiaries reflects a $3.50 increase over the 2011 “harmless” premium of $96.40. New [...]

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Super Committee Fails to Reach Debt Deal – Automatic Triggers To Cut Defense and Discretionary Spending

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[Latest Update]  As many had predicted, the debt Super Committee has failed to come up with a deficit reduction plan. Basically the not-so-super members failed to get past party line bickering and will now face the prospect of justifying to an angry public why they could not compromise. Further, the automatic triggers to cut defense [...]

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Rick Perry’s Cut, Balance and Grow Plan – Tax and Spending Reform To Restore America’s Economic Future

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After covering Hermain Cain’s 999 tax plan, I thought I would look at Rick Perry’s recently released “Cut, Balance and Grow Plan” discussed in his recent WSJ op-ed piece. Here are highlights from his Cut, Balance and Grow (CBG) plan: – Personal Tax Reform: Americans will have a choice between a new, flat tax rate [...]

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2012 COLA (Cost-of-Living Adjustment) 3.6% Increase for Social Security, SSI, Federal Retirees and Medicare Premiums

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[Updated October 19 - Official 2012 COLA Increase is 3.6%] The Social Security Administration (SSA) announced that the Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 60 million Americans will increase by 3.6 percent in 2012. The 2012 COLA increase would be the first in two years, reflecting a rise in [...]

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Obama’s 2012 Job Creation Stimulus and Tax Cuts – Can the New Economic Plan Really Boost The Economy and Lower Unemployment?

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[Update - American Jobs Act a.k.a 2012 Economic Stimulus] In what is essentially the 2012 stimulus package, President Obama has released details on the American Jobs Act which involves spending over $400 billion dollars to boost economic growth. The key provisions are: – Extension of employee payroll tax cuts into 2012, which were due to [...]

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Health Insurance Tax Credits to Help Millions of Middle-Class Families in Affordable Insurance Exchanges

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As part of new regulations under Obama’s health care legislation the U.S. Department of the Treasury and the Department of Health and Human Services (HHS) today took the next steps to establish Affordable Insurance Exchanges – one-stop marketplaces where consumers can choose a private health insurance plan that fits their health needs and have the [...]

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2012 Payroll Tax Credit and Unemployment Insurance Benefits Extension (February-March Update)

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[Updated Feb 2012]  The ongoing Payroll Tax Credit and Unemployment Insurance Benefits Extension is set to resume in Congress following the lapse of the two month 2012 extension. The debate is expected to be fierce, but Congress will pass the full year extension after sufficient political theater. I will provide updates on key developments and [...]

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New Tax Credits and Programs to Help Unemployed Veterans – Wounded Warrior Work Opportunity & Returning Heroes Tax Credit

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The Obama administration has proposed a host of new tax credits and programs to encourage employers to hire our growing army of veterans, particularly those that have been unemployed for a considerable time. This latest commitment to service members and veterans aims to provide a comprehensive plan to lower unemployment and ensure that service members [...]

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Debt Ceiling Increase Deal Reached – Social Security, Veterans, Military and the Rich Least Impacted. AAA Rating May Still Go

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The President announced late on Sunday that Congress and the administration have reached an in-principle agreement to raise the nation’s debt ceiling by $2.1 trillion and cut the federal deficit by as much as $2.5 trillion over a decade. House and Senate leaders must now sell this deal to their parties, before it is passed [...]

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How Much A Debt Deal Will Cost You With Higher Taxes, Fewer Deductions, Lower Benefits and Working Longer

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[Update as of July 23rd] It’s time to pay for the American dream. In various discussions around how to cut the national debt, so that we don’t have to keep raising the debt ceiling, one theme that is common in most plans is that Americans now and for generations to come are going to feel [...]

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2012 Military Pay Charts with 1.6% Raise Over 2011 Rates

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[Updated with approved 2012 rates] In 2011, US armed forces members received a 1.4% pay raise after a drawn out budgetary process. However in 2012, Congress has approved a  slightly larger 1.6% increase in military pay. The 1.6% raise was part of the $662 billion National Defense Authorization Act for Fiscal Year 2012 bill (H.R. [...]

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