REMEMBRANCE OF TAXES PAST
February 2008, Wealth Manager
It’s an election year, and politically charged tax talk is back. As an antidote,
we offer a brief review of tax history.
By James Picerno
This being a presidential election
year, taxes are topical all over again. As an
added incentive for chattering about fiscal
matters generally, there’s a vigorously
rising price tag for government programs—
notably Medicare and Social Security—and
questions about how to pay for the bills
going forward. Indeed, the government
budget is firmly in the red. As if that combination
wasn’t sufficiently provocative
and challenging, the Bush tax cuts enacted
a few years back are set to expire in 2010
unless Congress intervenes.