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Dean Zerbe: Reading the Tax Tea Leaves (Reprinted from Forbes 12-03-09)

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One thing is sure, rates for the wealthy are going up.

Here's a little irony: It's easier to predict what is going to happen 13 months from now than in the next month.

Democrats are likely to allow parts of the Bush tax cuts--namely, lower rates for those earning more than $250,000--to expire after Dec. 31, 2010. President Obama ran on this, and there's no reason to think he has changed his mind, especially with the deficit (and Democrats' spending plans) growing and growing. more>>