The Stock Market is threatened by Changes in the U.S. Tax Code
The stock market is expected to take a beating if tax rates on capital gains are increased by two thirds. There has been a lot of debate as to whether or not the economy will benefit or suffer because of these changes.
Apart from capital gains taxes, income taxes are also expected to increase. These changes will cause a lot of problems in the future unless the President and Congress agree on contentious issues. These two parties must agree before the year ends.
Investors in the stock market … Read more at 2011 Tax.
Beginning this Sunday, the United States will gain bragging rights in the economic war with Japan and China: It will have the largest jobs-killing corporate tax rate in all of the industrialized world.
This is no April Fool’s joke. Once Japan officially drops its tax rate to 36.8% this Sunday, the USA’s will be at the top of the chart at 39.2%.
While the President has suggested a new 28% rate, Republicans claim that the reduction also would bring $350 billion in new taxes to offset losses. In response, the GOP is suggesting a reduction to 25%; however, the upcoming … Read more at 2011 Tax.
April 15th, this is the date that all Americans associate with the IRS. For many it is a stressful situation to try and figure out what exactly needs to go on their return. This is where a Certified Public Accountant or other tax professionals can help by pointing out useful tax adjustments now for next year’s return.
The regulations and codes for taxes are constantly changing and that is truer for this year because the Bush tax cuts are set to expire December 31. These cuts are projected to change how deductions can be made for retirement plans like the … Read more at 2011 Tax.
Maryland state senate has voted in a new tax and people are unhappy about it. Not too long ago the state senate in a majority vote decided to introduce a so called millionaire’s tax that would make people who earn more than half a million dollars pay more in taxes.
The collective thought of the senate is split at the moment, many think this is the right thing to pursue and others think that this is no fair to the people and that everyone should be taxed equally.
This tax vote came as the State Senate approved its version of … Read more at 2011 Tax.
From Tax Cuts to Tax Increases – Maryland Senate Votes to Tax the Rich More
Maryland residents who earn more than $500,000 annually will have to pay more taxes after the Senate voted to increase tax rates for the rich. Many people see this as class warfare launched by liberals.
The proposal dubbed the “millionaire’s tax” was approved after liberal-leaning Senators refused to approve a smaller tax rate for all taxpayers unless the rich took a special hit.
More than 15,000 households will be affected by the new law. Couples filing jointly will have to pay at least 2,752 dollars … Read more at 2011 Tax.
Obama: Taxes should be increased to reduce debt
In order to pay-off the 15 trillion dollar federal debt and cut down the government’s one trillion dollar budget deficit, taxes should be increased to generate more revenue. The president was expressing his views to a group of business executives.
While speaking to members of the Business Roundtable, President Obama insisted that although his administration is working on a plan to cut spending, strategies to increase revenue should also be put in place.
Taxes will have a big impact on the outcome of 2012 elections.
All the potential Republican flag bearers Romney, … Read more at 2011 Tax.keep looking »