Bloomberg, in an article titled "U.S. Wealthy Lack Loopholes to Offset Obama's Taxes," reports on the tax implications of the recently passed health care legislation on high income individuals. The article quotes wealth management professionals who state that there are few "loopholes" in the legislation that will allow high income individuals to avoid medicare and capital gains tax increases. Some financial experts anticipate lower investment rates because of the increased capital gains tax rate, which may slow economic growth in the future.
Posted by Patrick Siegfried, Associate Editor, Wealth Strategies Journal.
Posted by Patrick Siegfried, Associate Editor, Wealth Strategies Journal.
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