I watched last night’s State of the Union address in hopeful anticipation that all taxpayers, from individuals to small business owners to multinational corporations, could look forward to a fairer, more simplified system. No such luck. Much of the speech was spent pointing out who or what is to blame for the sluggish economy, income [...]
President Obama finally said something that many tax reformers have long advocated for: millionaires should pay the same share of their income in taxes as the middle class. Sounds very akin to a flat tax, doesn’t it? Sadly, it is all talk, with no serious consideration for reform. Instead, the President has proposed a “surtax” [...]
Back in February, President Obama let businesses know what he thought. In a radio address rebuke he said, “If we make America the best place to do business, businesses should make their mark in America. They should set up shop here, and hire our workers, and pay decent wages and invest in the future of [...]
For the past few years, the Department of Labor has wrestled with what kind of fee disclosure requirements to impose on 401(k) plans. Currently the DOL has several pages of fiduciary rules that, if adhered to, will protect employers and plan administrators from potential liability. While these rules are voluntary, most companies make certain they adhere to [...]
Beginning in 2013, the recently passed health care reform bill will impose new Medicare taxes on unearned income for single filers with adjusted gross incomes of $200,000 a year or more and joint filers with AGIs of $250,000 a year or more. The new 3.8 percent will apply to any rent, royalties, dividends or capital [...]