Poll: Three Out of Four Middle Class Families Are Falling Behind as Prices Rise

Three out of 4 middle class households report falling behind the rising cost of living as inflation continues to soar., according to a new poll.

Primerica released the report, which found that 75% of middle-income families “say their income is falling behind the cost of living,” an eight-point rise since March. The poll found only 16% of those surveyed think they will be better off financially in a year.

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Sandy Hook Families Reach Settlement with Gun Maker Remington: Reports

Nine families of victims of the 2012 Sandy Hook Elementary School mass shooting have reached a settlement in their case against the firearms maker Remington, according to several news reports Tuesday.

The settlement comes roughly seven years after the suit was filed, according to a court document filed Tuesday and reviewed by CNN.

Remington was the maker of the Bushmaster AR-15-style rifle used in the massacre in which the lone shooter killed 20 children and six adults in Newtown, Connecticut.

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Senate, House Pass Michigan Opportunity Scholarship Bills

In what was characterized as a blow against the state constitution’s Blaine amendments, members of the House and Senate on Tuesday passed a slate of bills aimed at providing opportunity scholarships for Michigan students.

Senate Bills 687 and 688 and House Bills 5404 and 5405 all passed mainly along party lines, with Republicans supporting the legislation and Democrats in opposition. Each chamber’s respective education committees moved the bills forward earlier in the day.

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Commentary: IRS Guidance Would Punish Small Business Owners with Families

Outside of IRS building

Most IRS guidance documents make for poor pleasure reading. Then again, most IRS guidance doesn’t effectively impose a retroactive tax on small business owners merely for having a family. IRS Notice 2021-49, issued on August 4, includes a bizarre interpretation of the law that will effectively raise taxes for business owners with close relatives, even if their family members have no involvement in the company.

A core goal of the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed early on in the pandemic was to assist businesses in keeping employees on their payroll even as they dealt with the economic effects of lockdowns. Part of the plan was the Employee Retention Tax Credit (ERTC), which provides a tax credit against employer payroll tax liabilities.

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Commentary: The Other Back to School Story

Back to school stories this year will focus, naturally, on the Covid-19 pandemic’s toll on students and families and on remedying these difficulties.

But another story is being shortchanged: it’s about how parents sought new options for their children like homeschooling, small learning pods, and micro-schools, with civic entrepreneurs and their partners creating new organizations or expanding existing ones to meet this demand.

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Migrants Coming to America Illegally Say They’re Coming to the U.S. for a Variety of Reasons

MCALLEN, Texas — Some migrants who spoke to the DCNF said they were motivated to come to the U.S. by the Biden administration, while others cited death threats from “narcos” and disaster in their home countries.

“Suddenly, the situations during the previous years weren’t like this one. This year was much more difficult,” a Honduran migrant named Javier told the DCNF after illegally crossing into the U.S. near the Hidalgo Point of Entry early Tuesday morning.

Javier said increasing “crime and a lot of insecurity” including “extortions and death threats from the cartels” motivated him to leave Honduras. He said it took him a little over a month to reach the U.S.

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Commentary: China’s Three-Child Policy Shows Xi Jinping Is Terrified

Xi Jinping

The Chinese government has carried out a massive population control campaign since the 1970s with the hope that it would generate economic prosperity. The government unremorsefully forced women to receive abortions, pressured or forced millions of women to be sterilized, and punished families with multiple children with debilitating fines. More than 300 million children were aborted under China’s one-child policy. 

Last week, the Chinese government ended the two-child policy, which had been in effect since 2016, and instead enacted a three-child policy. The new policy is essentially an admission that the Chinese Communist Party’s heinous population control policies will not give it the riches it had hoped for. Instead, the population control program will deliver a demographic disaster, which will ravage the country’s economy for generations. 

Many economists recognize that population control never improved China’s economy — that was the result of increased freedom in the marketplace and foreign investment. And the Malthusian crisis the government was so desperately trying to avoid with population control was an entirely false specter. 

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