Author - Roger Southward, CFP®

A Not So Invisible Tax Increase

A Not So Invisible Tax Increase

In an extremely busy lame duck session, the Congress passed legislation in December to extend the current income tax rates for another two years, thus sidestepping an increase for most all tax payers.  One primary reason for the legislative compromise was the perceived need to preserve spending power for individuals in what is still a weak economy.

So, along comes a “tax increase” on an item indispensable to our modern society, and by that we mean the recent run-up in the price of oil and in turn the price of gasoline at the pump.  As oil prices have moved over …

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