I posted something from M.S. yesterday.. Interesting read…
It’s not all bad, but it’s not all good either.
….from Morgan Stanley…
“ANALYSIS OF THE POLICIES OF PRESIDENT-ELECT OBAMA”
See thread on page 2.
Actually, it seems like everyone’s taxes is gonna go up. Not necessarily because of obama. But just because certain events are going to occur.
Capital Gains, Dividend rate cut expires… Estate Taxes automatically go up… These were gonna happen irrespective of who was in office, and I expect even if McCain was elected, he probably would have to give some concessions and not renew those tax rate cuts (plus with a democrat controlled congress, I doubt they would have been renewed anyway).
So in all, it’s not just about the increased income tax in the 200k/250k, but also everyone else’s taxes are gonna go up…Significantly…I’ve stopped complaining about this…Because, frankly I’m fine more taxes, if everyone else is gonna pay more taxes.
Though it’s a little odd. that the increased income tax is drawn at the 200k single and 250k family level. It seems a little unbalanced. I would have expected something like $150k single and 250k family. What this tells me is the fallacy in this policy that a family is in as good a financial situation with $250k versus a single making $200k…This policy is so flawed, i don’t even need to explain it.
Frankly, if I was a unmarried couple, with both of us actually at $200k every year, I’d be concerned. That’s an additional $150k that is subject to much higher tax rate. I’d want to defer marriage until this mess is straightened out…Or at least just marry overseas and never register it here.
