Thursday, March 22, 2012

Higher Taxes Are on the Way!

As you may have heard, earlier this month the President released his budget proposal for 2013—and no surprise, it features a significant tax hike for many Americans. As the USA Today explains:

President Obama’s proposed budget plan includes $1.5 trillion in new taxes, most of it coming from an item that has divided the White House and the Republicans throughout Obama’s presidency: Tax cuts signed into law by President George W. Bush.

Those cuts are due to expire at the end of 2012 — a little less than two months after the presidential and congressional elections — but Obama only wants to end them for individuals who make more than $200,000 a year and families than make more than $250,000 annually; tax cuts for the middle class would be extended.

Obama and his team say higher taxes are needed along with spending cuts to reduce the nation’s $15 trillion-plus debt. “The president’s budget has $1 of revenue for every $2.50 for spending,” said White House chief of staff Jack Lew, speaking on NBC’s Meet The Press.

This comes as to surprise to those who have been paying attention—as the federal deficit continues to soar, the government is seeking to offset its rising costs by generating additional revenue. Specifically, married couples earning over $200,000 and individuals earning over $100,000 could be stuck paying tax rates higher than 60%!

Unless you act now, your retirement savings may severely impacted by these rising tax rates.

What can you do about it?

Email Millie, our Client Concierge, at millie@TheHiddenWealthSystem.com or phone her at (866) 998-7699. She will tell you about our Personal Protected Pension Plan, which will allow you to grow your investments safely—tax and market risk free!

The bottom line is that all income earners in America are facing a tax hike — the only question is, when? Unfortunately, with the cost of living increasing and the economic instability continuing, millions of Americans simply can’t afford to stay the course as their tax bill continues to soar. Tax increases are coming and they are coming for you! If you want to enjoy a retirement income that’s free from taxes contact us today before these increases arrive.

Protect yourself from imminent tax increases! Email Millie at millie@TheHiddenWealthSystem.com or phone her at (866) 998-7699. Please provide Millie with the two best times to contact you. We are currently experiencing a high volume of inquiries. Providing two contact times will insure that she is able to reach you.