The clock is running out on this session of Congress. While far from a sure thing, at least there is movement on the tax front. Whether that movement is progress or a step back will depend on your point of view. It's been said many times: Two things you don't want to see being made are sausage and legislation. This go-around with the recently negotiated tax bill is just such an example. In ... Read More
Congress
No Tax Uncertainty But Uncertain Politics
The Wall Street Journal reports that efforts to pass an extension of the Bush-era tax cuts have failed in the Senate. If these politicians are serious about getting rid of "tax uncertainty" and reducing tax liabilities on the vast majority of Americans, then they should be dealing with a relatively simple and uncontroversial thing - patching the AMT tax exemption. Otherwise, more than 21 million ... Read More
GOP Senator Says Not A Good Time to Raise Taxes … But Moving Lips Don’t Square with Reality
On Wednesday night as I drove Spencer to visit his grandparents, I was listening to an NPR program. The segment included an interview with members of the President's commission on the budget deficit and the debate over tax policy. I think that we all can agree that saving money, not spending foolishly and living within our means are good starting points for long-term financial success whether for ... Read More
No New Taxes – Just Fix the Ones We Have Now
AMT. At first glance you might think that some letters have been transposed. But unlike the machine that spits out money to you, the AMT is the stealth tax system that threatens the financial health of millions of Americans each year. The Alternative Minimum Tax, created decades ago to make sure the super-rich paid their fair share of taxes, has become a sure-fire way for the federal government ... Read More
