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The Boring Newsletter, 1/28/2024

Hi Friendos, Today I’m going to wrap up last week’s discussion of the Social Security “trust funds.” Last week we discussed how Social Security benefits are not paid for from general revenues of the federal government, but instead are paid for from so-called trust funds. The government accounting works like this: each year the level […]

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The Boring Newsletter, 7/9/2023

Anatomy of a 1040, Class 4 Hi Friendos, Welcome to our fourth summer school class. During our first three classes, we discussed the top half of Form 1040 p. 1, which gathers tax-relevant information about you. Now we’re ready to move on to the next section, which gathers information about your income. Lines 1-8, and […]