#policy + #politics

The Saver's Credit can be used by low- and moderate-income individuals and families to reduce their tax bills.

The Saver's Credit is applied directly to your tax bill to reduce the amount of federal income tax you owe. For instance, if your tax bill is $1,000 and your credit is $400, you'd only owe $600. If your tax bill is $1,000 and your credit is $1,000, it's a wash. You'd owe nothing.

To qualify, you must be 18 or older, not a full-time student, and not claimed as a dependent on someone else's tax return. Then you have to meet the AGI requirements. AGI is your gross income minus adjustments such as deductible retirement contributions, self-employment taxes, educator expenses, and student loan interest.

Of course, the final qualification is that you make a contribution to a retirement account. It's important to note that rollover contributions do not qualify for the credit, and eligible contributions may be reduced by recent retirement account distributions. Contributions to a wide range of retirement accounts qualify for this credit, including:

Traditional IRA
Roth IRA
Traditional 401(k)
Roth 401(k)
403(b)
457 plan
SARSEP
SEP IRA
SIMPLE IRA
Thrift Savings Plan
ABLE account

What is the Saver's Match, and how is it different from the Saver's Credit?

Beginning in tax year 2027, the Saver's Credit for retirement contributions will be replaced by the Saver's Match. While both incentives are designed to encourage lower‑ and moderate‑income workers to save for retirement, they work in different ways.

The Saver's Credit is a nonrefundable tax credit that reduces the amount of federal income tax you owe. By contrast, the Saver's Match provides a government matching contribution—worth up to 50% of the first $2,000 ($4,000 per person for joint filers) you contribute each year—that is deposited directly into an eligible retirement account.

If it wasn't for the tariffs, would Colossus be solar-powered? It would be much easier to make it solar powered, yeah. The tariffs are nuts, several hundred percent. Don't you know some people? The president has... we don't agree on everything and this administration is not the biggest fan of solar. We also need the land, the permits, and everything. So if you try to move very fast, I do think scaling solar on Earth is a good way to go, but you do need some amount of time to find the land, get the permits, get the solar, pair that with the batteries.

I just repeatedly tackle the limiting factor. Whatever the limiting factor is on speed, I'm going to tackle that. If capital is the limiting factor,
20:52 20 minutes, 52 seconds then I'll solve for capital. If it's not the limiting factor, I'll solve for something else.

If it wasn't for the tariffs, would Colossus be solar-powered? It would be much easier to make it solar powered, yeah. The tariffs are nuts, several hundred percent. Don't you know some people? The president has... we don't agree on everything and this administration is not the biggest fan of solar.

Total effective tax rates (includes all taxes: federal+state income tax, sales tax, property tax, etc) for the richest Americans declined by 2018 to a level beneath that of the bottom 50% of earners,[18] contributing to wealth inequality. Analysis by economists Emmanuel Saez and Gabriel Zucman.

The Federal Insurance Contributions Act (FICA /ˈfaɪkə/) is a United States federal payroll (or employment) tax payable by both employees and employers to fund Social Security and Medicare[1]—federal programs that provide benefits for retirees, people with disabilities, and children of deceased workers.

Since 1990, the employee's share of the Social Security portion of the FICA tax has been 6.2% of gross compensation up to a limit that adjusts with inflation.[a][9] The taxation limit in 2020 was $137,700 of gross compensation, resulting in a maximum Social Security tax for 2020 of $8,537.40.[7] This limit, known as the Social Security Wage Base, goes up each year based on average national wages and, in general, at a faster rate than the Consumer Price Index (CPI-U). The employee's share of the Medicare portion of the tax is 1.45% of wages, with no limit on the amount of wages subject to the Medicare portion of the tax.

So personal income tax in the US is ~30% for most of us (ranging from ~10%-37%), compared to Social Security's ~6.2% Medicare is 1.45% (or 12.4% + 2.9% if you count the employer portion). AND only the first ~$137K is taxable so our maximum tax amount to Social Security and Medicare is capped, while normal income tax that politicians can direct to anything from foreign wars to immigration enforcement to redistribution to different states or interest on debt driven by tax breaks to the rich that caused deficits.

About 55% less fentanyl was seized by September 2025 than by September 2024.

His proposed budget would redirect $569 million from the state’s quarterly auctions of pollution permits away from the environmental spending those funds have been dedicated to since the auctions began in 2023. That half-billion-plus dollars would be used to shield state refunds of sales taxes for lower-income taxpayers from the budget axe.

To date, the auction funds — paid by major polluters for the right to keep damaging the global climate with emissions of heat-trapping gases like carbon dioxide — have gone mostly to expand clean energy use and to help 16 communities in Washington identified as being overburdened by air pollution.

The Climate Commitment Act, which created the state’s cap on carbon emissions and system of carbon auctions, specifies that the sales-tax refunds are an approved use of auction proceeds, though no auction proceeds have been used for tax rebates to date.

Rooftop solar has helped some tribal citizens lower their monthly energy bills from $160 to $10, as well as avoid blackouts.

Fossil-fuel combustion is the primary cause of the planet's rapidly heating climate.

The governor's proposed 9.9% tax on income over $1 million (revenues starting 2029) is the most contentious part of the plan.

In March 2024, the Washington State Legislature adopted Initiative 2111 to prohibit state and local personal income taxes. The measure passed with support from all Republicans and a majority of Democrats in both chambers. A 9.9% tax on personal earnings conflicts with this law. The administration hasn't explained how this complies with I-2111's prohibition.

This would be Washington's 12th income tax attempt since 1932—voters rejected it 11 times. By asking approval for a millionaire-only tax, the administration establishes a graduated framework that would only need legislative modification afterward, not further voter approval.

We strongly oppose an income tax but appreciate Gov. Ferguson's promise to let voters decide. He proposes a constitutional amendment limiting it to income over $1 million, yet his proposal ignores existing constitutional limits. If adopted, this income tax will certainly expand in the future.

The budget shifts $569 million in Climate Commitment Act (CCA) revenue to fund the Working Families Tax Credit. The CCA's original allocation was meant for carbon reduction and infrastructure projects but will now go toward direct cash assistance for lower-income households.

Using rules that exempt certain bills from the filibuster, Congress passed (and President Trump signed into law) the 330-page "reconciliation" bill which included tax breaks adding $500 billion to the deficit; new limits on Medicaid, SNAP, federal student loads, and green energy; and $171 billion for immigration enforcement, making ICE the largest law enforcement agency in the United States.

Those were perhaps the most controversial bills ever enacted, with senators voting yes on the reconciliation bill representing just 44% of the country's population. I don't think that's ever happened before and really captures the political climate. (For comparison, the Affordable Care Act, a.k.a. Obamacare, passed the Senate with the yea votes representing 62% of the country’s population.)

Healthcare spending is driven by utilization (the number of services used) and price (the amount charged per service). An increase in either of those factors can result in higher healthcare costs. Despite spending nearly twice as much on healthcare per capita, utilization rates for many services in the United States is lower than other wealthy OECD countries. Prices, therefore, appear to be the main driver of the cost difference between the United States and other wealthy countries.

The U.S. spends twice as much as comparable countries do on health, driven mostly by higher payments to hospitals and physicians.

"Private insurance companies in this country spend between 12 and 18 percent on administration costs," Sanders said on NBC’s Meet the Press on Sept. 17. "The cost of administering the Medicare program, a very popular program that works well for our seniors, is 2 percent. We can save approximately $500 billion a year just in administration costs."

Is the gap between private and public health insurance providers’ administrative costs really that high? Most experts agreed the numbers looked about right. But because of key differences between Medicare and private insurance, the trade-off isn’t as simple as Sanders suggests.

If "the numbers looked about right", then why is it "half truth"?

Experts told us we could safely assume private insurance costs, on the other hand, are much higher, though actual spending estimates vary.

Aah... So it's a "half truth" because Bernie understated how much cheaper medicare is than private insurance companies.

Historically, administrative expenses were much higher in the commercial market because insurers did a lot of underwriting, or using the health status of individuals or groups to determine their premiums. The Affordable Care Act was designed to curb that spending.

On top of that, experts explained that unlike Medicare, private insurers take on more responsibility than simply paying claims or occasionally going after fraud. Before a claim is even filed, they check its appropriateness, assess whether it is medically necessary, and whether it can be done in a cheaper way (outpatient versus inpatient care, for example).

"Medicare has been trying in fits and starts to look a little more closely at how it pays claims but generally speaking, it is passive in processing claims," Sabrina Corlette, a research professor at the Center on Health Insurance Reforms at Georgetown University.

And private companies, deny more claims, which makes it more expensive.

Health expenditures per person in the U.S. were $13,432 in 2023, which was over $3,700 more than any other high-income nation.