We now see who are “millionaires and billionaires” in practice. They are individuals with income over $400,000 or married couples with income over $450,000. Their top tax bracket rises from 35% to 39.6%, an increase of 13%.
The capital gains tax rate goes from 15% to 20%, an increase of 33%.
The temporarily reduced payroll [...]
Everyone today is talking about the “Fiscal Cliff”. It is a small decrease in spending combined with a significant tax increase. Let’s put this in perspective. The budget for fiscal year 2012 was $3.8 trillion and the deficit (shortfall which had to borrowed) was $1.1 billion. If no deal is reached, and we go “over [...]
What will the gold-dollar exchange ratio be in the future? Both trade hyperactively on currency desks. Thus gold is a physical commodity that acts as a currency. It is a hybrid. Is it really money, as many adherents claim? Should it be? Certainly that topic accounts for the rise in the gold-dollar ratio in past [...]