Soaring federal debt signals future tax increases
Given the current state of federal debt and solvency issues with entitlement programs, it is likely that revenue needs will lead to higher taxes.
Tag: congressional budget office
Deficit projections could signal higher taxes
The federal government recently released a report on the nation’s finances, including longer-term projections for a rising deficit, which could mean higher taxes in the future. On a positive note, the Congressional Budget Office (CBO) report reflects a current decrease in the annual budget deficit for the last fiscal year. The easing of the deficit
How much do you really pay in taxes?
With a system that includes seven marginal tax rates, numerous surcharges, and an alternative minimum tax it can be difficult to determine a total tax bill.
Federal budget deficit projections may signal higher taxes
Growing federal budget deficits may result in possible tax increases, influencing retirement planning
Budget outlook may mean higher taxes
The federal budget deficit has improved in recent years, but projections estimate worsening conditions in a couple of years.
Despite federal deficit improvements, tax outlook is still cloudy
Despite a report this week pointing to decreasing federal deficits over the next two years, the longer-term outlook for tax rates grew murkier. After four consecutive years of topping $1 trillion, the U.S. federal deficit fell to $680 billion, or 4.1% of GDP, in 2013, according to the Congressional Budget Office (CBO) Budget and Economic