Deliberately debilitating the nation's habits of the heart will not contribute to better fiscal health for future generations. Our national commitment to charity must prevail as the best possible witness of this nation's moral commitment to ensure justice for all.
Start diversifying your savings today while tax rates are still low. The good news is there still time to take advantage of 2012 tax rates, which may turn out to be the lowest we see in some time. Here are three strategies to help diversify before the end of the year.
The recent elections clearly showed that in the minds of the electorate it's past time to restore vibrancy to the middle class and restore for all citizens the American Dream of equal opportunity, economic advance and fair employment.
Individuals who reduce their income taxes with itemized deductions are aware that they can claim contributions to schools, religious organizations and other favorite causes. But many of them are unaware of other opportunities.
The Sixteenth Amendment to the Constitution, which authorized the federal government to impose an income tax on individuals, will turn 100 years old on February 3. It was designed precisely to protect the 47 percent of Americans Mitt Romney has reviled.
Years later, having paid off all of this debt and having a totally different frame of mind as it relates to personal finance, I wonder what it would have taken to have prevented me from making all of those financial mistakes so early in my life.
Unless Washington acts in the lame-duck session after the November elections, top rates for capital gains from most sales of assets owned more than 12 months are scheduled to increase. They will go from 15 percent for 2012 to at least 20 percent for 2013.
Mitt Romney and Republicans have effectively twisted the debate away from the way the rich avoid their responsibilities into an attack on the poor, as if being poor makes you unpatriotic. And we cannot allow ourselves to let their attacks define the issues.
Although I take personal issue with Mitt Romney making such statements, even at a private fundraiser, I'm more deeply distressed by the fact that such campaigning actually works. And that responsibility, I suppose, falls to all of us.
If you follow Republican dogma all the way through to its logical conclusion, Republicans are supposed to be working hard every day to reduce taxes on everybody, all of the time. So the ultimate in reduction is complete elimination, right?
Mitt Romney was caught on video complaining that 47 percent of us don't make enough to pay taxes, believe they are victims, are dependent on government, etc. The right question is why do so many of us make so little?
Income taxes are such a pervasive and everyday part of our financial lives -- and such a central issue in presidential campaigns -- that they seem to have been around forever. They have not. Their debut is relatively recent.
Contrary to what many self-employed individuals believe, long-standing regulations usually prohibit most of them from claiming bad-debt deductions on their federal and state returns when they are unable to recover amounts due from clients and customers.