Half of Americans aren’t paying federal income taxes. Is that right? A provocative statistic. Last July, the nonpartisan Tax Policy Center (a joint venture of the Urban Institute and the Brookings Institution) estimated that 47% of Americans would not owe a penny to the IRS for...
What might happen if they went away? The debate is gaining volume. In July, Treasury Secretary Timothy Geithner said that very few taxpayers would be affected if the landmark tax cuts of 2001 and 2003 expired. “I do not believe it will affect growth,” he calmly...
Historically, these events tend to help equities. You may have heard that stocks tend to rally in fall and winter. That has often been the case. In fact, the S&P 500 and the Dow have gained repeatedly after the elections occurring in the third year of...
That’s part of the plan. How will you be affected? In 2013, wealthy Americans will pay extra Medicare taxes. Congress, President Obama and the IRS are putting a surcharge on the wealthy to help fund the health care reforms. Beginning in 2013, joint filers with adjusted gross...
Financial advisers are noticing a shift. A development few have noticed. The recession that started in 2007 quietly brought an economic shift to millions of American families - the woman of the house became the primary wage earner. In June 2010, Labor Department data showed that nearly...
Much is Hazy About the Dodd-Frank Bill, Even Though it has Passed. Will the goals of the reform bill really be met? On July 15, the Dodd-Frank Wall Street Reform and Consumer Protection Act passed 60-39 in the Senate. Next week, President Obama is expected to...