| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
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S&P National Bond Index
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3.00% |
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S&P California Bond Index
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2.96% |
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S&P New York Bond Index
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3.13% |
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S&P National 0-5 Year Municipal Bond Index
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0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
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848.03 |
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S&P U.S. Preferred Stock Index (CAD)
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636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
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| REITs |
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S&P REIT Index
|
174.07 |
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S&P REIT Index (TR)
|
425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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Taxes, rising rates will hit rich in the wallet, experts say |
InvestmentNews - June 5, 2011 - By Bloomberg News
The year 2013 may snap a 12-year winning streak for wealthy Americans on taxes due on income, capital gains, dividends and money given to their heirs.
The U.S. deficit, forecast by the nonpartisan Congressional Budget Office to reach a two-year cumulative total of $2.5 trillion next year, has prompted calls by some in President Barack Obama's administration, Congress and a bipartisan commission to limit tax breaks for home mortgage interest, charitable contributions, municipal bonds and retirement contributions.
“The deficit is an issue,” said Bill Fleming, managing director at PricewaterhouseCoopers LLP. Many wealthy taxpayers “have already decided in their minds that something is going to happen and they're going to pay higher taxes.”
Rates on income, capital gains and dividends will rise in 2013 because tax cuts extended last year are scheduled to expire at the end of next year, unless Congress acts. In 2013, top earners also face additional levies on unearned income and wages to help pay for health care reform.
Mr. Obama has proposed raising income tax rates to as much as 39.6%, from 35%, for couples making more than $250,000 annually or individuals earning at least $200,000. Capital gains and dividends would be taxed at a top rate of 20%, up from 15%.
The highest earners face an additional 3.8% tax on unearned income such as realized capital gains, plus a 0.9-percentage-point rise in the Medicare payroll tax on wages starting in 2013 as part of the health care bill passed in March 2010.
A majority of Americans favor increasing taxes on the wealthy, at least two polls this year found. A Quinnipiac University poll released May 4 showed that 69% of voters back raising taxes on households earning $250,000 a year or more, while a March Bloomberg poll reported the figure at 59%.
For a married couple with two children in Connecticut, which has the third-highest state and local tax burden in the United States, the increase in rates that Mr. Obama has proposed, along with levies from health care reform, means their tax bill would increase 12.5% to $142,160 in 2013, from $126,410 this year, according to an analysis that Mr. Fleming ran for Bloomberg News.
That is based on $485,000 in earnings, $2,000 in interest on investments, $3,000 in dividend income and $10,000 in long-term capital gains, and the following deductions: $20,000 in mortgage interest and charitable donations of $10,000, said Mr. Fleming, who works for PwC's private-company-services tax group.
For the complete article.
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| Stuff to look at |
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