States are increasingly looking to soda, candy, and other so-called “fat” taxes as a way to shore up their budgets.
The current capital gains tax rate of 15 percent is set to increase substantially at the end of the year as the 2001 and 2003 tax cuts sunset.
One tax hike set to take effect January 1, 2011 unless Congressional action is taken is a 164 percent increase in the tax on dividends.
The concept of privatization is relatively simple: a shifting of a government-provided service or aspects of it to a private business subject to the rigors of a competitive marketplace.
A value-added tax (VAT) is a sales tax applied at each stage of production for a good or service, instead of only at the point of final sale.
Without Congressional action the Bush tax cuts will sunset on January 1, 2011 and raise U.S. residents’ tax bills by a whopping $3.1 trillion over the next 10 years.