middleclass
California started sending out the inflation relief payment, called the Middle Class Tax Refund from October of last year. Although the state is already done sending the refund money, it is estimated that over a million Californians have not yet claimed the Middle Class Tax Refund. Not Yet Claimed The Middle Class Tax Refund? What To DoEligible recipients received up to $1,050 in the form of a Middle Class Tax Refund. The amount of refund varied based on filing status, number of dependents and the adjusted gross income. For instance, individuals with an annual income below $75,000 were eligibl...
ValueWalk
By Mohammed Kudrati Recently, at an event organised by Panchjanya magazine, Finance Minister Nirmala Sitharaman said that she identifies herself as 'middle class', to convey that she understands the pressures and problems they face. Sitharaman also said that the government does not tax income under ₹5 lakh, with no extra taxes being imposed on the 'middle class' under the government; portraying facilities like metros, smart-cities and better drinking water coverage to be middle-class friendly initiatives. However, there is no fixed definition of who can be called economically middle class. Rat...
BOOM Live
After a rapid recovery from the pandemic, the U.S. economy faces significant challenges from surging inflation and slowing economic activity, according to a new OECD report. Growth is projected to slow to 1.5% in 2022 and 0.5% in 2023 with inflation and tight financial conditions weighing on spending. Inflationary pressures – driven by strong demand, supply constraints and rising commodity prices following Russia’s war of aggression against Ukraine – have broadened, with services inflation now accelerating. Inflationary pressures may prove persistent, prompting additional monetary tightening. ...
ValueWalk
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