by Gary S. Morrow | Oct 30, 2021 | Commentary
Some items to note that were not included in the legislative framework: A Billionaire tax, affecting a small, but wealthy segment of taxpayers Lowering estate tax exemption Changes to capital gains rates Changes to “Carried Interest” Changes to IRA accounts Changes...
by Gary S. Morrow | Oct 24, 2021 | Commentary
From Zerohedge.com: Incredibly, in 2020, approximately 61% of Americans paid no federal income taxes, according to the Tax Policy Center. Therefore, approximately 39% of Americans paid all federal income taxes. In 2017, the top 1% of income earners in the U.S. paid...
by Gary S. Morrow | Oct 6, 2021 | Commentary
In the U.S. we have seen a correlation between debt to Gross Domestic Product(GDP) as a leading indicator of tax increases. The link below illustrates how the highest marginal tax income rate trends with the debt-to-GDP ratio. Today, our debt is reaching...
by Gary S. Morrow | Sep 15, 2021 | Uncategorized
From CNSNews.com: Americans spent more on taxes in 2020 than they did on food, clothing, healthcare and entertainment combined, according to newly released data from the Bureau of Labor Statistics. American “consumer units,” as BLS calls them, spent a net total of...
by Gary S. Morrow | Aug 25, 2021 | Commentary
Nearly 61% of U.S households paid no federal income taxes during pandemic-stricken year of 2020, because of declines in income and boosts to government subsidies that wiped away tax liabilities, according to data from the Urban-Brookings Tax Policy Center. The number...
