That’s part of the plan. How will you be affected? In 2013, wealthy Americans will pay extra Medicare taxes. Congress, President Obama and the IRS are putting a surcharge on the wealthy to help fund the health care reforms. Beginning in 2013, joint filers with adjusted gross incomes of $250,000 or greater and single filers [...]

While the idea of retirement has changed, certain financial assumptions haven’t. We’ve all heard about the “new retirement”, the mix of work and play that many of us assume we will have in our lives one day. We do not expect “retirement” to be all leisure. While this is becoming a cultural assumption among baby [...]

How do you pay down an $8 trillion debt? The Obama administration needs an answer, as the non-profit Congressional Budget Office says America’s debt could rise to $20 trillion by 2020. One possible answer has a very European ring to it: a VAT, or value-added tax. What are the chances of Americans paying a national sales tax? And what about an Internet tax? Or an energy tax? Are they also possible?