ClintonTax Cuts: In 1997 President Bill Clinton signed a tax cut bill that, among other things, created a new $500 child tax credit, raised the income limit for deductible IRAs, nearly doubled the estate tax exemption, and slashed the capital gains tax rate by a whopping 28%. The reduction in the capital gains tax was [...]
TaxProfblog brings my attention to: Who Pays “Buffet Tax”? Not Warren Buffet but Jeremy Lin. Loser Winner The Fix Is In. “President Obama’s Fiscal Year 2013 Budget proposes the “Buffett rule” — those making over $1 million should pay at least 30 percent of their income in taxes. Legislation introduced in both [...]
Is there a better way to tax? NYTimes introduces its readers to N. Gregory Mankiw, a professor of economics at Harvard, and advisor to Mitt Romney: A Better Tax System (Assembly Instructions Included N.Gregory Mankiw 21 Jan. 2012 The American Enterprise Institute (AEI) presents another perspective to raise revenue without inhibiting a productive job creating [...]
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