Taxes, Government | featured news

Low interest rates let governments keep their borrowing costs low, helping them live within their budgets without having to raise taxes or cut spending.

A federal shutdown looming Friday would stop processing of paper income tax filings to the IRS – at the height of tax season – and throw into question how cargo will be processed at the nation’s ports of entry and whether new claims for Social Security benefits will be authorized.

Authorities in Europe and the U.S. are turning to “stealth taxes” to avoid drawing attention to the tightening fiscal noose.