Triple Tax Increase in Your Future
201210.17
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Triple Tax Increase in Your Future

A timely article from the Investor’s Business Daily calls our attention to the effect changing tax policies will have on capital gains and dividend payouts. If Bush’s tax cuts expire as scheduled, taxes on these forms of income will almost triple overnight. With current tax cuts, capital gains and dividends are currently taxed a flat…

Obama Seeks New Taxes On The Rich
201209.20
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Obama Seeks New Taxes On The Rich

The Wall Street Journal article, “Obama Seeks New Taxes On The Rich,” covers the Obama’s proposed budget plan as he discusses new proposed programs, and his desire to restore what he calls economic “fairness” among the American people. According to the article: “The budget underscores the White House’s bet that it can convince voters in November that increased spending in the…

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…