By Allen G. Yee
The year was 2001. The top marginal federal income tax bracket was 39.6%, and the tax rate that applied to most long-term capital gains was 20%. Then came the Economic Growth and Tax Relief Reconciliation Act of 2001, followed two years later by the Jobs and Growth Tax Relief Reconciliation Act of 2003.
An American businessman was at the pier of a tiny coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them. The Mexican replied, “Only a little while.”
The financial reform bill recently signed into law is an attempt to address some of the problems that contributed to the 2008 financial crisis. The legislation, officially known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, is considered the most wide-ranging overhaul of the U.S. financial system since the aftermath of the Great Depression.
As economic troubles cascade from the largest corporate entity down to the single individual, people are quick to confront the well known dangers like inflation. However, an old threat is creeping out of the pages of our history books and re-inserting itself into the economic fabric of America: It is deflation.
No matter how much you’ve looked forward to retirement, you might find yourself missing the social interaction and financial benefits you enjoyed when you were employed. Perhaps getting a full- or part-time job will enable you to rely less on your retirement savings, leaving more to potentially grow for the future.
Seems to me that many analysts, advisors, and media outlets that are bullish on domestic stocks, believe the market correction that we’ve experience over the last several weeks is over. Market pundits points that the markets are oversold – a technical analysis term describing a stock (or market) falling too far and/or is underpriced, i.e.
Unfortunately you or someone you know may have been a victim of identity theft. Tax season springs upon us new types of scams.