US Mint Halts Penny Production After 230 Years
The U.S. Mint has officially ended production of the one-cent coin after 232 years, citing high production costs and the coin's low purchasing power.
#US Mint#Penny#US Economy
#Fiscal Policy
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Bank of Canada Plans Significant Job Cuts
The Bank of Canada will cut approximately 10% of its staff, affecting 225 employees, as part of a government initiative to reduce expenses and achieve significant budget savings by 2026.
#Bank of Canada#Job Cuts#Canadian Economy
The Original Goal of the US Tax System Explained
The U.S. tax system was originally designed with a clear principle: those with the greatest ability to pay should bear the largest burden, a philosophy that shaped modern policy.
#US Tax Policy#Income Tax#Estate Tax
French PM Freezes Retirement Age Reform Until 2027
French Prime Minister Sébastien Lecornu announced a freeze on the unpopular retirement age reform until 2027, a major win for the opposition Socialist Party, to stabilize his nascent government amidst
#French Politics#Retirement Reform#Sébastien Lecornu
Malaysia Projects Ringgit to Strengthen Below 4 Per Dollar
Malaysia's Second Finance Minister projects the ringgit could strengthen to below 4 per U.S. dollar within a year, driven by strong domestic spending.
#Malaysian Ringgit#Malaysia Economy#Fiscal Policy
Pakistan Rolls Out New Pension Plan for Government Workers
Pakistan is launching a new contributory pension system for government employees hired after July 1, 2024, to manage a national pension bill exceeding Rs 1.05 trillion.
#Pakistan Economy#Pension Reform#Fiscal Policy
Social Security's 2034 Deadline Sparks Retirement Age Debate
Social Security's trust funds face depletion by 2034, risking a 21% benefit cut and sparking debate on whether to raise the full retirement age.
#Social Security#Retirement#US Economy
Social Security Trust Fund Faces Depletion by 2035
The Social Security Administration's 2024 report projects the program's trust funds will be depleted by 2035, potentially causing a 17% cut in benefits.
#Social Security#Retirement#US Economy
US Considers Raising Social Security Retirement Age Amid Financial Strain
Amid projections of a funding shortfall by the mid-2030s, the U.S. is debating raising the Social Security full retirement age beyond 67, sparking a national conversation on the future of retirement.
#Social Security#Retirement Planning#US Economy
SSA Chief Says Retirement Age Increase Is Under Consideration
The head of the Social Security Administration confirmed that raising the retirement age is being considered to address a projected 2034 funding shortfall.
#Social Security#Retirement#US Economy
Social Security Retirement Age Increase Under Consideration
The White House is considering raising the Social Security retirement age among other options to prevent the program's projected insolvency by 2034.
#Social Security#Retirement#US Economy