Social problems

How high inflation may affect which tax bracket you’re in next year

Jamie Grill | Getty Images As Americans grapple with soaring prices, experts say it’s likely we’ll see higher-than-usual inflation adjustments from the IRS for 2023 – covering tax brackets, 401(k) plan contribution limits and more. Embedded in the tax code, these annual IRS changes aim to prevent what’s known as “bracket creep,” when inflation drives …

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44% of Americans think they can achieve billionaire status

Michael Bloomberg, (right) founder of Bloomberg LP, and Lloyd Blankfein, chairman and chief executive of Goldman Sachs Group, at the 10,000 Small Business (1OKSB) partnership event in London on December 14, 2016. Chris Ratcliffe | Bloomberg | Getty Images Mixed feelings about extreme wealth At the same time, most Americans have a love-hate relationship with …

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