By Allen Yee
By Allen Yee
Many of my clients routinely ask when I’m planning a vacation or when I’m competing in my next triathlon. As you may know, my daughter Amanda is an aspiring and avid volleyball player. And all father biases aside, she’s pretty good. The reality is most of my spare time has been spent participating in and supporting her volleyball ambitions.
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 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.
By Allen G. Yee
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.