The Roth IRA mega backdoor loophole, exploited to reap larger returns than normally possible, is on the precipice of being closed by the Biden administration’s new tax plan. Investing columnist John Wang explores both its intended and unintended consequences.Continue Reading
The COVID-19 pandemic is estimated to have killed 200,000 Americans and temporarily closed millions of businesses. But as metropolitan areas begin to open up and loosen restrictions, for rural Americans, the worst is still yet to come. Continue Reading
The Northeast Corridor serves 17% of the US population, but covers 2% of the land in the US. In a 2014 report by Amtrak, the Northeast Corridor helps support the education and powerhouses that are located in the area. The train is competitive because it connects multiple affluent urban areas within a short distance of each other. From a passenger’s standpoint, the travel time and costs are comparable to driving or flying. Through price discrimination, Amtrak is able to charge higher prices for the consumer.Continue Reading
States have a tax problem. The most consistently profitable companies in the Fortune 500 only pay about half the statutory federal income tax rate—a fourth pay less than 10 percent. Some even get refunds from Uncle Sam—despite making over $160 billion in pre-tax profits, an astounding 30 companies have enjoyed a negative income tax rate in the past three years.Continue Reading