The Tax Questions Blog

Posts Tagged ‘economy’

Question: How will obams plan to raise taxes affect our weak economy?

Answer: It will produce the same results as it did the last time it was tried. The increased capital gains taxes will drive money away from economically-productive investment and into tax shelters.

In addition the costs of his programs are beyond the amounts of revenue that can be realized from taxing the "rich" so we will find the middle class suddenly being declared 'rich' and hit with tax increases.

To compound this problem he wants to increase taxes on corporate income. (Which will make US corporate income taxes the highest in the industrialized world.) This will have several adverse effects. First of all it will increase the costs of goods made in the US - making it harder to compete against imports. Second of all it will reduce profits - which will means less investment and less investment means fewer jobs.

Do we really want a repeat of the Carter administration?

New Rules Ease Roth Conversions, but Benefits Vary

The rules on converting a traditional I.R.A. into a Roth were relaxed this year, but making the change will not help everyone.

Voting: Taxes how they affect you, the economy and America in general. A look at various historical taxation moves .