The Tax Tsunami On The Horizon

The Tax Tsunami On The Horizon

www.investors.com

Fiscal Policy: Many voters are looking forward to 2011, hoping a new Congress will put the country back on the right track. But unless something's done soon, the new year will also come with a raft of tax hikes — including a return of the death tax — that will be real killers.

(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
Six Months to Go Until The Largest Tax Hikes in History

I posted a story on these taxes a while back. However this is a much better written article with much more in-depth information. I highly encourage every American on ATS to read this. Congress is not even talking about this right now. I have an idea that they plan to do nothing about this.

Here is my favorite part:

Economic Substance Doctrine. ATR reports that "The IRS is now empowered to disallow perfectly legal tax deductions and maneuvers merely because it judges that the deduction or action lacks 'economic substance.'"

www.investors.com
(visit the link for the full news article)

reply to post by dbloch7986


Any tax hikes don't apply to me!! I make less than 250K per year.
Obama promised.

Just get your Obama Tax Hike Exemption Card.
[atsimg]http://files.abovetopsecret.com/images/member/0bb9bab63113.jpg[/atsimg]

Whip this out and show it to the tax man when they come to collect.