Some risks are interstate, others are regional, and still others are global. Before the days of regional free trading systems, such as the European Union, Mercado Comun del Sur (MERCOSUR), and the North American Free Trade Agreement (NAFTA), minor members wielded little influence in the global arena—politically, economically, and diplomatically. Today Portugal, Uruguay, and Mexico can wield more. To avoid an unpleasant showdown in bilateral relations, the United States often resorts to its formal and informal veto power in multilateral organizations such as the United Nations, the World Bank, and the International Monetary Fund to reject funding requests from less cooperative countries, thus reducing confrontational risks. Political risk is therefore an outcome of policy choice; it can increase or decrease as the state chooses how to devise and implement its domestic and external policies. To maintain low political risk can lead to immeasurable loss of a country's independence, autonomy, and even sovereignty.
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tax brackets For both 2020 and 2021, you can end up in one of seven different federal income tax brackets – each with its own marginal tax rate – depending on your taxable income. This is a unique time of the year for taxpayers. On the one hand, you're getting ready to file your 2020 tax return (which is due April 15, 2021). But, on the other hand, you're also looking ahead (or should be) and starting to think about how to handle your 2021 finances in a tax-efficient way. In either case, you need to be familiar with the federal income tax rates and tax brackets that apply (or will apply) to you. The tax rates themselves didn't change from 2020 to 2021. There are seven tax rates in effect for both the 2021 and 2020 tax years: 10%, 12%, 22%, 24%, 32%, 35% and 37%. However, as they are every year, the 2021 tax brackets were adjusted to account for inflation. That means you could wind up in a different tax bracket when you file your 2021 return than the bracket you're in for 2020 – which also means you could be subject to a different tax rate on some of your 2021 income, too.
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