Jimmy Walker once said that voters always get the politicians they deserve; and so we did. Obama’s new programs create additional government bureaucracies staffed by thousands of employees that will initiate and supervise uncounted new regulations that will make doing business much more difficult and less profitable. And you can bet that when he says “we’re all going to have to sacrifice”, he means we are going to pay higher taxes! None of these changes will take place in 2008, but many new tax rate increases on both business and individuals will be put in place. These could be made retroactive to January 1, 2009. The point is, that if you want to take advantage of the current tax rates and benefits, you’d better do it before year’s end. After that they could be gone forever.
Continue reading “Fasten Your Seat Belts, It’s Going To Be A Bumpy Ride”