Like most Americans I pay taxes, income taxes both federal and state, sales taxes, property taxes and for fifty years, payroll taxes and I’m still, at age 81, paying income, sales and property taxes – plus assorted other miner taxes and fees on goods and services.
Like any normal person, I think it would be nice not to pay taxes and keep all my money. But unlike too many of the uninformed people ranting on social media these days,

Perhaps what we should be debating is which is the most important line on the tax return. I can tell you that most would say line 34, “this is the amount you overpaid, or line 37, “this is the amount you owe. I contend line 24 matters most, “this is your total tax”. Rarely, and I mean well under 1% of the time, did a client ask me how much tax they paid. As a matter of fact,

I have been following the passage of the new bill signed today. I thought the deduction was 6K for couples, but it is per person. Here is information on the specifics from an AI source:
The (bill) includes a significant tax break for older Americans, specifically a new $6,000 “bonus” deduction for those 65 and older. This deduction is targeted at those with modified adjusted gross incomes up to $75,000 for individual filers and $150,000 for joint filers.

I observe the national state of taxes, deficit spending, debt and related interest payments and wonder, is the American view of this fiscal management a reflection of the personal finance habits of too many of us? 
As a nation we don’t live within our means for sure, largely ignore interest payments, and apparently don’t think about our financial future or who will pay the bills some day.
As individuals, that scenario seems to reflect the lifestyle of too many Americans.

This may sound crazy to most readers here, but as a 45 year-old, until 2022 I had never lived in, let along invested in, a rising interest rate environment.
This is, of course, owing to the enduring bond bull market from 1981-2022 (RIP).  Obviously, we all know rates rose in 2022 and have held steady for a bit.  They are now mostly in the 4% range depending on duration.
As a young investor in the 2010s and early 20s,

The occasional heated posts directed at a certain esteemed, HumbleDollar contributor, regarding his disdain for spreadsheets, always amuse me. While I find them entertaining, they sometimes become a bit uncivilized. I actually sympathize with his views, and my own use of spreadsheets is quite sparing. I believe that common sense, rule-of-thumb heuristics, and an individual’s intimate knowledge of their own circumstances are more than sufficient for everyday budgeting. However, I do construct the odd spreadsheet, very occasionally.

As a result of reading HD, I have become fascinated with certified financial planner videos on YouTube, some are pretty good, others not so much.
Often one thing strikes me as ironic. Some presenters look more like they will be starting college in the fall, than experienced experts and none of them look anywhere near retirement age – maybe they will FIRE, but I digress.🤑
My real curiosity is when they show a spreadsheet to see if a hypothetical couple can afford to retire.

Focus on the causes, not the symptoms.
There’s been a heap of handwringing this year over both federal government borrowing and possible cuts in Social Security benefits, and the current budget bill before Congress is only exacerbating those fears. But I worry folks are focusing on the wrong things.
As Adam Grossman noted recently, the federal government collects $5 trillion in revenue each year and spends $7 trillion. Why? You might point the finger at Medicare,

AARP updated their 1040 free Tax Estimator for 2025 today. The calculator is before any changes in the H.R. 1 bill passed by the House recently.
One easy work around to see how the proposed law change may impact your 2025 taxes is plugging into the AARP calculator itemized deductions – interest the H.R. 1 additional $4K and $2K (if you are filing MFJ status) if you think the additional senior standard amounts will become law in 2025 plus your standard deduction for 2025.

My perception is Americans have become obsessed with taxes. They complain loudly about high taxes. Some vocal seniors don’t think they should pay property taxes or income taxes on Social Security or extra premiums for Medicare (not actually taxes).  
There seems a general lack of understanding of what taxes provide.  The tax collector has been vilified throughout history. Our Country was founded as the result of taxation. 
Paul in Romans 13:1-7, explicitly mentions paying taxes: “This is also why you pay taxes,

The Missouri legislature recently passed a wide-reaching tax bill that includes ending the capital gains tax. The House passed the legislation 102-41. Since it had previously been approved by the Senate, it now goes to Gov. Mike Kehoe.
Rep. George Hruza, R-St. Louis County said this is one of the best things the legislature could do for Missouri.
Now I’m not sure it really is the best thing the legislature could do in a state that is #5 in the country in “gun death rates,”

On Friday, May 15,  I received the attached email Alert from the IRS Office of Professional Responsibility. The email topic, When a Practitioner Passes Away, is mostly focused directly at anyone subject to Circular 230 that practices before the IRS, typically attorneys, certified public accountants, enrolled agents and others who prepare tax returns for pay. I think it likely that every state also has their own additional laws and regulations regarding protection of your data.

The Joint Committee on Taxation today posted their analysis of proposed changes to the current tax code. The 400+ page document is long but certainly easier to read than the tax bill that posted yesterday 5/12/2025.
Nothing final here but I think it will give a flavor to what may be coming in 2026.
https://www.jct.gov/publications/2025/jcx-21-25/

Due to the COVID-19 pandemic and a spike in unemployment federal tax law was modified and the Employee Retention Credit (ERC) was born. The ERC was a refundable tax credit for certain eligible businesses and tax-exempt organizations that had employees and were affected during the COVID-19 pandemic. The business, tax community and the Internal Revenue Service continue to deal with compliance aftermath of the ERC.
On March 20, 2025 the IRS updated their frequently asked questions about the employee retention credit in the section headed “Income tax and the ERC”.

On April 30, Kitces posted an comprehensive article regarding the Tax Cuts and Jobs Act (TCJA) describing in detail where the congress is currently at and what steps are necessary to extend and/or change the the TCJA before the current tax law sunsets at the end of 2025.
https://www.kitces.com/blog/tax-cuts-and-jobs-act-tcja-sunset-budget-resolution-reconciliation-salt-cap-qbi-deduction-congress-republication-house-senate-bill/
I agree with the conclusion of the article to currently “wait and see” before taking action until I have a concrete expectation of what the individual income tax rules will look like in 2026.