I just received a troubling e-mail from a friend. The e-mail is a forwarded e-mail from his accountant that explains in detail some of the upcoming tax changes that will affect more than 90% of Americans starting in 2013. It makes me wonder why I strive to create riches through passive income at all!
“Raise taxes on the rich.” – “The rich need to pay their fair share.” These are just a few of the democratic/liberal talking points being used during the 2012 presidential campaign to try to appease to middle and lower class voters. Unfortunately, many of these less informed voters probably don’t realize that former tax cuts are about to expire, effectively raising taxes on them. This is happening despite the campaign rhetoric that is telling them otherwise.