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Trump's Iran conflict becomes de facto 'tax increase' on struggling Americans: report
rawstory101d ago

Trump's Iran conflict becomes de facto 'tax increase' on struggling Americans: report

President Donald Trump's military actions in Iran are effectively functioning as a hidden tax on American households, economists warn, as soaring energy costs threaten to erase anticipated benefits from larger tax refunds this filing season.Americans are poised to receive bigger refunds than last year, with the average federal tax refund reaching $3,742 as of late February—about 10.6% higher than 2025. However, the economic fallout from the Iran conflict is rapidly negating that windfall, according to a new report.Since the U.S. military actions in Iran began, oil prices have skyrocketed, sending gas and diesel costs surging. The average price of unleaded gasoline jumped to $3.64 per gallon on Friday, roughly $0.72 higher than the previous month's average. Mortgage rates have also climbed sharply to 6.41% for a 30-year fixed-rate loan, up from 5.9% before the conflict."The Iran war acts like a tax increase on the consumer, except nobody voted for it," said Paul Dietrich, chief investment strategist at Wedbush Securities.The burden falls disproportionately on lower-income Americans, who spend a larger percentage of their budgets on fuel and energy. As households redirect refund money toward gas and groceries rather than discretionary spending, the broader economy loses the boost that tax refunds typically provide.Experts caution that while tax refunds could help insulate consumers from immediate shocks, the economic damage from elevated energy costs and inflation pressures will likely persist throughout 2026, undermining household purchasing power across income levels.Read the full report here.

#ECONOMY
Take Pi for a Spin in this Orbital Simulator
hackaday101d ago

Take Pi for a Spin in this Orbital Simulator

It’s Pi Day, and while we know that many of you celebrate privately, those that take a moment to put aside their contemplation of all things circular and join us ...read more

#TECH
Best Crypto to Buy Now as Circle Moves $68 Million in 30 Minutes Using Stablecoin Rails and Proves Crypto Payment Infrastructure Has Already Replaced Traditional Banking Speed
techbullion101d ago

Best Crypto to Buy Now as Circle Moves $68 Million in 30 Minutes Using Stablecoin Rails and Proves Crypto Payment Infrastructure Has Already Replaced Traditional Banking Speed

The crypto market just demonstrated something traditional banking cannot replicate at any price. Ethereum trades at $2,077 as holders wait for $4,000, while Dogecoin holds $0.090 after losing its X Money integration narrative. Both carry name recognition at market prices, but a $68 million transfer this week proves crypto payment infrastructure has already surpassed the [...]The post Best Crypto to Buy Now as Circle Moves $68 Million in 30 Minutes Using Stablecoin Rails and Proves Crypto Payment Infrastructure Has Already Replaced Traditional Banking Speed appeared first on TechBullion.

#CRYPTO
Short Interest in Direxion Daily Industrials Bull 3X Shares (NYSEARCA:DUSL) Drops By 24.6%
themarketsdaily101d ago

Short Interest in Direxion Daily Industrials Bull 3X Shares (NYSEARCA:DUSL) Drops By 24.6%

Direxion Daily Industrials Bull 3X Shares (NYSEARCA:DUSL – Get Free Report) was the recipient of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 16,717 shares, a decline of 24.6% from the February 12th total of 22,175 shares. Currently, 3.3% of the company’s stock [...]

#STOCKS
Theratechnologies (TSE:TH) Share Price Crosses Above Fifty Day Moving Average – Here’s Why
themarketsdaily101d ago

Theratechnologies (TSE:TH) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Theratechnologies Inc. (TSE:TH – Get Free Report) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$4.47 and traded as high as C$4.53. Theratechnologies shares last traded at C$4.47, with a volume of 35,472 shares. Theratechnologies Price Performance The company has a quick [...]

#STOCKS
Glanbia (LON:GLB) Share Price Passes Above 50 Day Moving Average – Here’s Why
tickerreport101d ago

Glanbia (LON:GLB) Share Price Passes Above 50 Day Moving Average – Here’s Why

Glanbia plc (LON:GLB – Get Free Report) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 16.27 and traded as high as GBX 17.70. Glanbia shares last traded at GBX 17.54, with a volume of 23,943 shares trading hands. Glanbia Stock Up [...]

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