At The Right Time...
From The Right People...
1. Tax Burden
As the middle class gets smaller and smaller, more of the tax burden will fall on highly compensated individuals. This is especially true of highly compensated employees and professionals. The tax laws will always favor business owners and investors because they provide jobs and housing.
2. Social Security
As Social Security and Medicare go further and further into a deficit, more and more taxes will have to be raised to pay for this deficit. These taxes will fall primarily on highly compensated employees and professionals.
3. Inflation
The sooner you start learning about and planning for the coming inflation and higher taxes, the less you will be affected by inflation and the lower your taxes will be.
4. Deductions
With inflation, middle income earners will be pushed into higher tax brackets and will lose many of their deductions just as many people have become part of the alternative minimum tax (AMT) system through inflation.
5. Tax Laws
Tax laws are basically the same throughout the world. They favor the entrepreneur and active investor and punish the employee, self employed, and casual investor. Wherever you are in the world, your taxes will be impacted by the inflationary practices of the United States and other countries.
The tax crisis
The tax law is a series of stimulus packages for entrepreneurs and investors. If you understand the basic rules, you can take advantage of these stimulus packages in your own business and investments.
What was your wake up call ?
