The Coming Tax Storm—Will There Be Massive Tax Hikes on Wealth Holders

Jeff Camarda (), Steven James Lee () and Jerusha Lee ()
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Jeff Camarda: Family Wealth Education Institute
Steven James Lee: California State Polytechnic University
Jerusha Lee: Claremont Graduate University

A chapter in The Financial Storm Warning for Investors, 2021, pp 29-42 from Springer

Abstract: Abstract This chapter argues that taxes will increase in the future. Between COVID, state and federal government debt, Social Security and MedicareSocial Security and Medicare funding concerns, and the rise of socialistic ideas, the money will have to come from somewhere. Where is the most likely and easiest source of extra money? Taxing the wealthy! Even if you don’t feel like you are one of the wealthy, the United States boasts 40% of the world’s millionaires. Proposed new tax law may shrink your wealth in a number of stealthy ways, not least of all by simply increasing your marginal tax bracket. The chapter goes on to explain how to be on your guard so that you will be able to recognize when this occurs and take appropriate action.

Keywords: Tax hike; Social Security; Medicare; Wealthy; One percent (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-77271-0_4

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DOI: 10.1007/978-3-030-77271-0_4

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