Tax Uncertainty
201209.10
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Tax Uncertainty

In a recent USA Today article, Sandra Block writes about the tax uncertainty, and how the looming the 2013 Tax Cliff is affecting our economy. The Bush administration’s tax cuts will expire in 2013, with “the top income tax rate rising to 39.6%.” Block mentions that taxes on capital gains and dividends will also rise, while estate…

The Tax Cliff
201209.09
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The Tax Cliff

The effects of the upcoming Tax Cliff, also referred to as “Taxmageddon,” were covered in a recent Wall Street Journal article. The article states that a number of Democratic Senators appear to be open to the possibility of negotiating a deal with Republicans to avoid raising 2013 taxes during the country’s slow crawl out of economic crisis. According to…

Reid Seeks More Tax Revenue; May Target Energy Industry
201202.01
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Reid Seeks More Tax Revenue; May Target Energy Industry

In January, a host of tax increases went into effect, especially on high-income Americans.  Income tax rates went to 39.6 percent in the highest bracket, capital gains and Medicare tax rates increased for high-earners, and increased payroll taxes hit all workers.  Despite these increases in tax rates, Democratic senator and Senate Majority Leader Harry Reid…