NEW YORK ( ETF Expert) --Benjamin Franklin said, "It would be thought a hard government that should tax its people one-tenth part of their income."
Yet, recent polls show that the majority of U.S. citizens do not believe Republican presidential candidate Mitt Romney's 2011 effective rate of 14.4% was high enough. Apparently, not everyone seems to feel that one-tenth, or 10%, is harsh at all.
More famously, Mr. Franklin quipped, "In this world nothing can be said to be certain, except death and taxes." Indeed, Franklin would be surprised to discover that nearly half of United States citizens pay zero federal income tax.
Taxes certain? Far from it. For instance, we may or may not witness a bevy of tax increases (aka the fiscal cliff) at the end of 2012. Moreover, it is incredibly unclear who will pay more, and how much more.That said, there is one certainty involving financial matters. Ben Bernanke is guaranteeing the Federal Reserve will buy $40 billion of mortgage-backed bonds every month. It is an open-ended promise... meaning it has no foreseeable expiration other than tangible improvements in the labor market and the economy as a whole. Now, short of the federal government
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