Employers are resourceful, and they have risen to the challenge. But it’s time for things to settle down. This is not the time to adopt new taxes and add new layers of burdensome regulation.
After a long run of strong spending, there are signs that consumers are beginning to slow down the pace of purchasing just a bit. U.S. retail sales fell 0.1% in October, the first decline since March. This is an indicator that inflation is easing – which is good news – but the timing is not ideal for small business owners who depend on holiday shopping to remain profitable.
The setting for the classic Christmas movie starring Chevy Chase, “National Lampoon’s Christmas Vacation,” is in a typical suburban community. Clark Griswold, played by Chase, decorates every foot of his home and front yard. However, when Griswold family flicks the “on” switch to share the light show with his family, the rest of the city’s lights wink out. It’s easy to envision Griswold extravaganzas nationwide draining the power grids.
We become change-agents by first altering our own maps. We can change our attitude, work ethic, priorities and maturity. Self-leadership always precedes group leadership.
It’s a tough call – did the Tri Cities economy start with the year with a bang to end with a whimper? Or is it the reverse? A comparison of where things stood at the beginning and the end of this year leads to conflicting signals. Let’s first consider a couple national measures that influence the regional economy.
Saving up money for specific goals has been, for good reason and with good results, a healthy and beneficial habit to develop from childhood, from traditional piggy banks to allowances, from saving accounts to educational funds. Another valuable and rewarding tool might not spring to mind, but it pays rich rewards: a retirement fund, specifically a Roth IRA.
Washington state has published its estate tax threshold for 2024. Spoiler alert: it hasn’t changed from 2023. When learning about the estate tax, people generally want to understand how to avoid it. But the first question is not “How do I avoid the tax,” but instead, “What is the potential tax?”
