It will be big debate during the election year. Democrats will ask for huge increases and Republicans will do otherwise. Vote which one is better for you. The 40% who pay no Federal income tax will vote for Democrats.
It is more important to cut spending than raise taxes to me.
Investment incomes are double taxed. You can argue everything is double taxed or more. When the rich (the 10% who control the 50% of the country's wealth) see they are taxed more than 40% (their highest income tax bracket plus the % for Medicare), they will switch to other investment.
With lower investment taxes, the market and hence the economy will prosper. Hopefully they're not passed. There is a good chance Obama will be re-elected, but the senate will be controlled by Republicans.
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(c) TonyP4 2012. Written in 3/12/12. Last updated in 3/12/12.
Disclaimer:
Do not gamble your money you cannot afford to lose. Past performance is a guideline and does not guarantee future performance.
All my posts are for informational purposes only. I'm not a professional investment counselor. Seek one before you make any investment decision.
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