Posts Tagged ‘ federal tax cuts ’

JUST THE ‘FISCAL CLIFF’ FACTS… PLEASE!

Nov 16th, 2012 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Scare Tactics Exposed Any time we here at SeniorCitizenJournal.com hear scary words from politicians, we pause and go searching for validation of what is being said.  We did that this week with the ‘Fiscal Cliff’ scary-word, and found it to be totally misguided.  (We’re being nice here with our language.)// Fictitious Fiscal Cliff First, the [...]



Senior Finance: What Would You Do With $1.35 TRILLION?

Jun 9th, 2011 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

One of the more fun things to do in retirement is to play the game, “What would I do if I won the lottery?”  Pay all my bills, Give money to my kids, Create a foundation for charity, Take a trip around the world…  we all have our own Lottery Winning List.  One Trillion, Thirty-Five Billion Dollars would [...]



Seniors: Taxing Wealthy Americans

Oct 20th, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Moments Blog

SCJ editors try to read a balance of news articles daily to keep a finger on the pulse of issues in the United States and worldwide. We found an article yesterday in The New Republic that deserves a spotlight. Jonathan Cohn is a Senior Editor, and he wrote this Op Ed:

“Congress adjourned last month without voting on whether to extend the Bush tax cuts. But the debate hasn’t stopped, with prominent Republicans and most of their conservative supporters pushing hard to preserve the cuts that fall exclusively on high incomes. Letting those tax cuts lapse, these conservatives say, would not only be bad for the economy. It would also be unfair.



Senior Finance: The Income Tax Inequity

Oct 13th, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Forbes.com recently published its annual list of the 400 wealthiest Americans.  The total net worth of the top 10 wealthiest people in the United States is $270 billion; the last 15 on the list are worth $1 billion each.  Senior citizens will find this information interesting in view of the current issue in the country related to [...]



Seniors Look at the Federal Tax Cuts Issue

Sep 17th, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Moments Blog

The Internet and mainstream news media are full of articles, blogs and news reports about how, when and if the federal tax cuts enacted early in the Bush administration will be extended. They are due to expire at the end of December this year (2010).

Unfortunately a lot of information is clouded in distortions and midleading statements. Those who want all of the tax cuts to remain in effect say it is necessary in order to avoid making the recession worse. On the other side of the fence, there are those who want the tax cuts on the wealthiest Americans (those earning $200k and up) to be reversed and eventually get back to the pre-2000 level. They maintain the wealthy do not pay their fair share of taxes; the counter-argument is that if the wealthy have to pay more taxes, there is less to trickle down to the middle and lower classes in the form of jobs.