The Canary in the Coal Mine?

Given recent events, it seems like the stock market, and perhaps the world economy, are dependent upon the health of Greece’s economy. The slightest bad news from Greece sends stock markets around the world plummeting and the pundits repeating their dire predictions of the end-of-the-world as we know it. Certainly, the Greek economy may be […]

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BEWARE of the AMT

The Alternative Minimum Tax (AMT) was passed in 1969 to prevent people with very high incomes from using special tax benefits to pay little or no tax. The U.S. Congress enacted the AMT in response to the outrage generated when the Secretary of the Treasury testified before Congress that 155 people with adjusted gross annual […]

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The Top Marginal Tax Rate

The ongoing national political debate includes proposals to increase the top federal marginal tax rate on the highest income taxpayers. The Internal Revenue Service (IRS) reports that less than one percent of all individual federal income tax returns were subject to the highest individual marginal tax rate of 35 percent. Taxes collected at the 35 […]

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The Top 1 percent

Recently, the top one percent, those individuals with the highest incomes, and their fair share of the tax burden has been the subject to much debate. Just who are the top one percent and what is their current share of the tax bill. Tax Stats, the public data site of the Internal Revenue Service (IRS) […]

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