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…