Nice to see the MSM (manin street media) has caught up with the common sense that has been in place since at least 2008 (when at least a real schlub like me was noting the obvious): the ONE thing that Congress and Administration can do to improve economic performance is come up with a reasonable long-term tax rates regime, including estate taxes (which are zero this year). To a certain extent, it does not matter what rates are in place for various taxes, but that taxpayers* know what the their tax futures look like (so that they will start investing and creating economic activity).
Here is a relevant article: http://www.realclearpolitics.com/articl ... 06487.html
It is less important what the long-term rates looks like, than it looks like something that a reasonable investor and high-income investor might see as a reasonable future. This is the key thing government can do to improve the economy. That is the major thing; and all the other stuff is so much boo-la-boo-la to allow a bunch of Congressional spending.
* and on this one, the impact is correlated to the percentage of taxes paid, which means that the higher up you go in the income brackets, the more a taxpayer cares about what happens in the future.
The Tax Certainty Thing
Re: The Tax Certainty Thing
High-income investors are generally advantaged by a tax system which changes frequently and varies a lot between jurisdictions because they are in a position to benefit by exploiting the changes.
yrs,
rubato
yrs,
rubato