A new round of tax reform has arrived in the United States, with an unprecedented scale of tax refunds. According to data from the National Economic Council, families can receive up to $20,000 in tax refunds, and this policy is expected to begin approval and distribution soon.
What are the specific highlights? Tips and overtime pay are all tax-exempt, which is a significant benefit for the 6 million workers in the service industry. Single workers can deduct an additional $12,500 in overtime pay, and those over 60 receive an extra $6,000 deduction. Even car loan interest is included in the tax-exempt range, which clearly aims to relieve pressure on ordinary wage earners.
Official data is there – the average salary of blue-collar workers has increased by nearly $2000, and the inflation rate has dropped to 1.6%, which indeed sounds like signs of improvement.
But if you really ask the common people how they feel, the answer is quite heartbreaking. Surveys show that 74% of Americans think the economic situation is "bad," and 44% directly say their financial situation has worsened. The tax refund policy seems very inclusive, but in reality, higher-income families benefit more from it, and in certain areas, there are exclusion clauses. If there are mistakes in the declaration, there are also penalties and audits, which makes it awkward.
What is even more surprising is that Trump actually wants to establish a national Bitcoin reserve. It should be noted that two years ago he was calling cryptocurrencies a "disaster"; now he has made a complete 180-degree turn, claiming he wants to turn America into a cryptocurrency hub. While distributing tax rebate red envelopes, he is also betting heavily on Bitcoin. Is this really an attempt to stimulate the economy or just a tactic before the election?
The key question is: can this tax rebate truly relieve the financial pressure on the public? How will the government's shift in attitude towards Bitcoin affect the cryptocurrency market? What are your thoughts on this series of policy combinations?
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
A new round of tax reform has arrived in the United States, with an unprecedented scale of tax refunds. According to data from the National Economic Council, families can receive up to $20,000 in tax refunds, and this policy is expected to begin approval and distribution soon.
What are the specific highlights? Tips and overtime pay are all tax-exempt, which is a significant benefit for the 6 million workers in the service industry. Single workers can deduct an additional $12,500 in overtime pay, and those over 60 receive an extra $6,000 deduction. Even car loan interest is included in the tax-exempt range, which clearly aims to relieve pressure on ordinary wage earners.
Official data is there – the average salary of blue-collar workers has increased by nearly $2000, and the inflation rate has dropped to 1.6%, which indeed sounds like signs of improvement.
But if you really ask the common people how they feel, the answer is quite heartbreaking. Surveys show that 74% of Americans think the economic situation is "bad," and 44% directly say their financial situation has worsened. The tax refund policy seems very inclusive, but in reality, higher-income families benefit more from it, and in certain areas, there are exclusion clauses. If there are mistakes in the declaration, there are also penalties and audits, which makes it awkward.
What is even more surprising is that Trump actually wants to establish a national Bitcoin reserve. It should be noted that two years ago he was calling cryptocurrencies a "disaster"; now he has made a complete 180-degree turn, claiming he wants to turn America into a cryptocurrency hub. While distributing tax rebate red envelopes, he is also betting heavily on Bitcoin. Is this really an attempt to stimulate the economy or just a tactic before the election?
The key question is: can this tax rebate truly relieve the financial pressure on the public? How will the government's shift in attitude towards Bitcoin affect the cryptocurrency market? What are your thoughts on this series of policy combinations?