The voters have spoken and the Congressireonal balance of power has shifted dramatically. So how will this impact future federal tax policy? We think the new composition will serve the U.S. taxpayers well in terms of limiting tax hikes and controlling deficit spending.
The following video (Video #4) and other other links will provide you some useful guidance:
Additional Library of tax and economic videos can be accessed at:
The expiration of the Bush Tax Cuts in 2011 will equate to a $138 Billion tax hit in 2011 and $200 Billion in 2012 to wealthy and middle-class U.S. taxpayers. An extension of the Bush Tax Cuts are predicted to increase GNP by .5% to 1.4% and the Congressional Budget Office predicts job creation in the 1.3 to 3.5 Million full-time jobs.
Check out the Financial Times’ Op-Ed:
For a full library of my AICPA Tax Articles, click the link below: