New Congress, New Taxes
January 9th, 2007Since the recent change in Congress, there’s always been some inkling at higher taxes. Here are a few links indicating possible tax hikes. (House votes to link spending changes and tax shifts) and (How the budget got the way it did and what the new Congress may do to reverse that) Where will the tax hikes will be? We do not know. Most candidates would be to eliminate the tax cuts that the Bush Administration put in, or at the very least, not vote to not continue them. (One tax break in particular is the estate tax break deemed to end in 2010. We might think it all right, but don’t say that to the babyboomers heading into their golden years.)
“The lesson is that fighting a war, cutting taxes and funding a major new entitlement program all at the same time doesn’t work.”
“This is putting the American taxpayer on a collision course with higher taxes”
A good or bad thing? At the very least, the individual should always be planning ahead: business operations-wise, estate planning-wise, and investment-wise
