Business

Paying taxes is just about as much fun as a root canal.  As such, apparently more and more people are just deciding not to do it.  As the Wall Street Journal points out today, the IRS saw a 40% surge in returns that owe tax penalties between 2010 and 2015.

For reasons that aren’t clear, a growing number of people who pay taxes quarterly are getting their payments wrong and incurring penalties as a result. These taxpayers often owe estimated taxes because they have income that’s not subject to the same withholding as wages earned by employees.

 

Authored by Simon Black via SovereignMan.com,

A few weeks ago the Board of Trustees of Social Security sent a formal letter to the United States Senate and House of Representatives to issue a dire warning: Social Security is running out of money.

Given that tens of millions of Americans depend on this public pension program as their sole source of retirement income, you’d think this would have been front page news…

Authored by Lance Roberts via RealInvestmentAdvice.com,

After a week on vacation, I got the joy of coming back to an Administration threatening North Korea over nuclear weapons.

Now, you would suspect the possibility of nuclear war might just be the catalyst to send markets reeling, but looking at the market’s reaction on Thursday, I suspect there will be t-shirts soon reading:

h/t:  pistolnation.com

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Blame The Russians, The Chinese, The North Koreans, and The Welsh... but not The Fed...

Overnight saw more China turmoil.. (MSCI China ETF saw its biggest drop since Brexit)