1) Tax bills for rich families approach 30-year high - The article talks about the increase in taxing of upper financial class Americans. The top 1% of households which make around 1.4 million dollars a year are going to be subjected to the highest tax rates in 30 years. Is this right? I understand what the liberals are trying to do, they're trying to take the pressure of federal taxing off of middle-class Americans by applying more to the upper level income families. So I ask you again, is this right? No. Those people are wealthy for a reason. They didn't steal all that money, it had to be earned. Why should they be subjected to paying more taxes than anyone else? The average family makes about $46,000 and have an income tax of about 14%. If you take 14% of 1.4 million, you still end up with much more money than you would if you took it from the $46,000. The wealthy already pay more in taxes than anyone else, so why should that be increased? Long-term, this plan will do more damage than good.
2) Corporate America gears up for tax-reform debate - Tax-reform is coming, but like most things in our country it will take time. With neither side working in a bipartisan manor, it is unlikely to see any change in the following few months. Taxes have been raised to almost all-time high and without tax-reform, it is unlikely to change. Money is trying to be freed up everywhere you look, and hopefully and cap can be found by Congress, and all the budget cuts passed down from the Senate and House will not be in vain. Maybe the money will be freed up enough to put a dent in the national debt, or maybe the plan backfires and leaves millions unemployed and leaves our economy in an even more terrible state.
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