My newly adopted home state needs money.    Bad.    So, like many other states, it is raising taxes on a variety of behaviors that it views as bad and seeks to discourage.    Those include drinking, smoking and, apparently, working. Here' the story from a few days ago: TRENTON -- The state Assembly passed legislation today that raise taxes on cigarettes, hard alcohol and wine, ... read more

High income Americans face the prospect of much higher total taxes (Federal, state and now health care tax increases).   Many of these big earners (I don't call them 'rich' because wealth isn't always analogous with income.   Many of the super-wealthy are actually living off of family fortunes and paying the much lower tax rate on capital gains) are probably a bit shell shocked and wondering who ... read more

In a brief meeting with reporters today on Capitol Hill, House Speaker Nancy Pelosi made a few interesting comments about the proposed health care plan and the "surtax" on the rich to pay for it. Pelosi indicated she may be willing to negotiate on the tax, saying it is on the "high end" and perhaps could change. More interesting though are the follow up comments to a reporter who asked why, ... read more

We spoke with Manhattan Insititute's Howard Husock about how possible reductions in charitable gift tax deductions and the increase in the federal tax rate on the high-end could negatively impact charity organizations. ... read more

Our good friends up north are constantly being bashed for one reason or another ... but now it's time to celebrate something Canadian - their low tax rates. Okay, maybe not 'low' ... but if you are rich in America you may soon be envying their top-end taxes. Let's compare:

CANADA