The Biggest Tax Hikes in US History are Coming

Posted: July 18, 2010 in Financial Survival

Like we don’t have enough on our plate.  On top of everything else in six months we can expect The Biggest Tax Hikes in America’s History!  Good times.  Tax increases are never a fun topic but it is better to be prepared than unprepared.  We have heard a million times there will be no tax increases on the middle class, by now you should understand that is complete BS.  Below is an article by Bob Bauman called The Biggest Tax Hikes in America’s History are Coming.  In the article Bob gives us an idea of what to expect.

The Biggest Tax Hikes in America’s History are Coming

By: Bob Bauman

You Have 6 Months to Prepare. Here’s What You Should do NOW…

In fewer than six months, Americans will face their biggest tax hikes in history.

As of Jan. 1, 2011, no matter what your tax bracket, you can expect a hike. The lowest, 10% bracket will rise to 15%. On the high end 35% will rise to 39.6%. And everything in between…

The 25% bracket will rise to 28%.
The 28% bracket will rise to 31%.
The 33% bracket will rise to 36%.

If you’re married, expect to pay more.

That’s right – the “marriage penalty” is back.

Kids? The child tax credit is slashed from $1,000 to $500 per child. (Not that you could raise a kid on $1,000 a year anyway.)

I know that you’re not thinking about dying soon. But you may want to adjust your assets accordingly in the next six months…

… Because the Death Tax returns in 2011!

That’s right – if you die this year, no death tax. But 6 months from now, expect a whopping 55% (on estates over $1 million).

There has simply never been a more pressing time than right now to start planning for the future (the future that’s less than 6 months away!).

Where the Millionaires Are…

Not surprisingly, the U.S. is slipping wealth-wise. (Gee, Uncle Sam, what did you expect?)

A new listing shows that global private wealth made a comeback in 2009, increasing by 11.5% to US$111.5 trillion. This comes from The Boston Consulting Group’s Global Wealth 2010 Report.

The largest gain occurred in Asia-Pacific where wealth rose by 22%, or $3.1 trillion, nearly double the global rate.

Latin American household asset growth rose by 16% to $3.4 billion, and Europe, despite its debt problems, was the wealthiest region with more than $37 trillion in private assets under management, an increase of 8.8% from 2008.

Where the World’s Millionaires Are

1) Singapore: Population: 4.7 million; Percentage: 11.4%
2) Hong Kong: Population: 7.1 million; Percentage: 8.8%
3) Switzerland: Population: 7.6 million; Percentage: 8.4%
4) Kuwait: Population: 2.8 million; Percentage: 8.2%
5) Qatar: Population: 841,000; Percentage: 7.4%
6) United Arab Emirates: Pop. 4.9 million; Percentage: 6.2%
7) United States: Population: 310.2 million; Percentage: 4.1%
Belgium: Population: 10.4 million; Percentage: 3.5%
9) Israel: Population: 7.4 million; Percentage: 3.3%
10) Taiwan: Population: 23 million; Percentage: 3%

The Sovereign Society has always promoted “going offshore” financially when done right (legally). It is far better than keeping all your assets at home.

The fact is, offshore banking and investing provides investment diversification, often higher returns, much more currency diversification, solid asset protection and, yes, much greater financial privacy.

Tax Havens Alive and Well

Well dear readers, I am here to tell you that despite attacks, tax havens are alive and well. I have firsthand knowledge from personal travels.

And tax havens are just as busy as ever. They are offering lower or no taxes to smart foreigners who want to bank, invest and make a good profit.

Yes, there are all sorts of new reporting requirements. Especially for U.S. persons. And yes, financial privacy has been weakened in many places – Switzerland, Austria and Liechtenstein included.

But all the right reasons for going offshore still exist – now more than ever. Far better asset protection, lower taxes, better investment returns and much more financial privacy remain important reasons to go offshore.

I realize that keeping track of tax havens is not the most important item on most peoples’ lists. But now you have a 6-month incentive. No matter what your financial situation, you will be affected by these tax hikes. And income taxes are only the tip of the iceberg! For more on what taxes to expect, see http://www.atr.org/files/files/070110pr-jan2011taxes.pdf.

And here at The Sovereign Society we have built a good reputation for educating people on where to bank, locate their trusts or private foundations, and find maximum privacy and less government interference.

So, dear reader, what can you do today to prepare over the next 6 months?

Well, I’ve put together a special package of all of my books and reports – everything from The Passport Book to Where to Stash Your Cash Legally, detailing all the ways you can still assert your right to go offshore.

And for a limited time, I’m offering the entire collection to my A-Letter readers at a 62% discount. Plus, I’ve just added a couple of bonuses I think you’ll like.

Whatever you do, don’t sit idle the next 6 months. Start planning for those tax hikes today. Don’t wait – click here to get started!

Bob Bauman
Legal Counsel, The Sovereign Society

 

Advertisements
Comments
  1. […] the original here:  The Biggest Tax Hikes in US History are Coming « Your hedge Post a […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s