The New Year is upon us and with each New Year; there are many changes and modifications that will occur all over the world. One of the widest known changes to occur in 2013 is the adjustments of social security in America -(African Americans and Africans in Diaspora please take note)
In 2013, social security payments will increase by 1.7% which means that anyone on social security will get a bigger payout. Another change in regards to social security is the fact that the payroll tax cut is set to expire, meaning the amount of social security that is taken out of your income will increase. This year, there will also be a raised social security tax cap and an increased earnings limit.
Generally speaking, taxes will raise in the following ways; death tax, medical device tax, investment tax increase, payroll tax increase, reduction of itemized deductions, reduction of personal exemptions, etc. These increases all were enacted on January 1, 2013.
The tax increases were based upon the fiscal cliff as well as the introduction of the Obama-care policy. This brings us to the last and final change of 2013- The influence of “big data”. Big Data deals with things that help businesses and individuals to make better decisions.
Overall, big data analyzes large data and then predicts future outcomes based on this data.Most people will start to see how big data will impact their lives in many ways very soon. Big Data will create change for the public in how they research, vote, spend money, stay healthy, and in regards to privacy concerns.
The reason that big data is such an important topic that has come up in 2013 is because of the fact that it is loosely looked upon by many individuals as simply “big brother” watching over all of us. In future years to come, big data will affect the way all of us watch television, how we bank, and even how we all stay safe. Big Data is here to stay and is one of the biggest changes to finally take place in 2013.
This Article was submitted to us by James Ikenna.
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