Quote:
Originally Posted by davew
and IRS is becoming militarized with over a million rounds of ammunition.
Matt Gaetz has proposed a law prohibiting the IRS from having more than five million rounds of ammunition. Matt Gaetz is an idiot. Correction. If Matt Gaetz improved his intelligence 1000% he still would not reach the level of idiot. Five million rounds gives each IRS enforcement agent four bullets a day.
but no new taxes if you make less than $400K
Correct. There are no new taxes if you make less than 400k a year.
the Biden economy has increased personal credit card debt by 13% in last year and most people need to work an extra month to get what they had 2 years ago.
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https://www.lendingtree.com/credit-c...bt-statistics/
Credit card balances are up only because they were so low during Covid. They are down about 60-70B from 2019.
The important statistic is delinquencies.
From the Lending Tree link.
According to the most recent delinquency data from the Fed, the 30-day delinquency rate (or the number of folks who are currently at least 30 days late with their credit card payment) rose from 1.63% to 1.73% in the first quarter of 2022.
That’s the third straight quarter of increases. However, delinquency rates are still near historic lows, staying below 2% for the fifth consecutive quarter. Before this streak, rates had never dropped below 2% since tracking began in 1991.
It’s a huge difference from what we saw during the Great Recession, during which delinquencies peaked at nearly 7% in 2009.
Credit card debt only matters if you can’t make your payments.