A little federal income tax hike would go a long way

Filed under: Forecasts, Politics

The U.S. dollar continues to weaken, which has led to commodity price increases, including a higher-than-fundamentals-dictate oil price of about $80 per barrel, and U.S. Treasury Department professionals are working long-and-hard to continue to refinance and rollover U.S. debt to finance the U.S. government's operations -- all because the budget deficit is high.

What could take pressure off all of the above? Well, in addition to letting the 2001 Bush income tax cut expire in 2011 as expected, Congress could pass a modest tax increase above the expiration amounts -- for example, increasing the top two income tax brackets by 2-4 percentage points.

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A little federal income tax hike would go a long way originally appeared on BloggingStocks on Thu, 05 Nov 2009 18:00:00 EST. Please see our terms for use of feeds.

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