Another great week of reading to share. This week one of the topics that was discussed was the expiration of the Bush tax cuts. My tweep Kay Bell broke the news about the White House tax reform panel report to be issued on Aug. 27. Let’s see what tax overhaul they will offer us.
Another article, The Bush tax plan vs. the Obama tax plan in one chart, by Ezra Klein in the Washington Post (I know, not a PF blog, but one beautiful chart) showed the impact by income level for each proposed tax plan.
In a fascinating article Hauser’s Law posted by the Hoover Institute, offers a chart that shows total tax revenue to be tied not to top rates, or even marginal rates, but to GDP. Tax revenue is about 19.5% of GDP and has been flat to that level for the duration of the time period studied, 1950 to present.
My friend Kevin at Out of Your Rut asked Will Social Security Be There When You Retire? A nice, detailed analysis of whether social security will still be around, a great read.
Matt about Money discussed How Much Would It Take To Feel Rich? The numbers really vary by individual, but I’m guessing a lump sum of 25-30X one’s current income is enough for anyone to retire, and that’s the answer I’d give Matt.
Jeff Rose discussed What Near Record Low Treasury Yields Mean. As a practicing CFP, Jeff knows his stuff, the yield curve and its implications are one piece of Jeff’s explanation of where the economy is right now.
And last this week, in Len Penzo’s Black Coffee Edition, Send in the Clowns, a bit of a satirical look at this past week.