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- Tax rates are increasing - http://money.cnn.com/2008/05/08/pf/retirement/revell_taxes.moneymag/index.htm?postversion=2008050905
- Rebate phased out for AGI of $75K for singles, and $150K for married couples
- Top federal income tax bracket in 1980 - 70%... $100K was 49% marginal. Todays rate is 28% for $100K.
- Capital gains used to be 28% in 1980, now is 15%
- Other pressures to increase taxes:
- 77 million baby boomers going into retirement. 76% of tax revenue in 2050 (at todays rates) will go into social security and medicare.
- It may be better to pay taxes on investments today, rather than tommorrow when tax rates can be higher.
- So some suggest to hedge bets by diversifying into tax defered, and non-tax defered investments.
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