Taxes are forever topical, especially in an election year, particularly one in which big ideas about government programs, old and new, are increasingly front and center. Government action, of course, means government spending, which in turn leads to the inevitable question: Who’s going to pay for it?
With that backdrop we offer a bit of perspective about where we’ve been. The future of tax policy is, as always, unclear. The past, by contrast, is eternally crystal. In the February issue of Wealth Manager, your editor took a look backward, if only as an antidote to the bull market in political-speak. By this reporter’s reckoning, a dose of context is always useful and sometimes it’s even refreshing.