Raising taxes on high-earning families has begun

Raising taxes on high-earning families has begun, with the newly-enacted healthcare legislation. Will the attack on households with $250K incomes stop with this single bill?

If the US deficit is to be paid with tax hikes on upper incomes, it would require a tax rate of 77 percent on top earners according to Rosanne Altshuler of the Tax Policy Center in Washington, as quoted by Mark Trumbull in The Christian Science Monitor, April 11, 2010.

The time is now to strategically plan to stop wasting money on taxes you are not required to pay. Act now to implement a tax-savings plan!

BusinessWeek Magazine (Sept 10, 2009) says, "investors have turned away from anything remotely risky."

The next big risk is not declines in portfolio value, it's TAXES. Taxes will devour retirement savings if not planned properly.

The time is now to strategically plan to stop wasting money on taxes you are not required to pay. Most changes need to be in place by December 31 to reduce your current year taxes, and sooner implementation results in greater savings, so act now!

Must tax rates go up?

Why tax rates (not just income taxes) must go up:
- Existing deficits
- Costs of two wars
- Rising entitlement costs from the retirement of the Baby Boom generation
- Deepening recession hurts tax revenue
- Unemployment results in lower Social Security and Medicare tax revenue
- Business closures, home foreclosures and personal bankruptcies reduce local property tax revenue
- Lower retail sales reduce state and local sales tax revenues

The time is now to strategically plan to stop wasting money on taxes you are not required to pay.