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Most Americans assume a progressive tax code is needed to
promote equality and remove some of the burden of other
taxes on those with the lowest income. But the progressive
nature of the tax code changes behavior in many ways. As a
result a progressive tax code is economically destructive. To start with an obvious example, let's assume the tax rates
on a business start at 10% and after a certain point reach
100%. How much money would be collected at the 100% rate?
The answer, of course, is zero.
[click here to read more]
09/22
First Day of Autumn
09/14
Consider a college savings plan
David Marotta was voted Charlottesville's Best Financial Advisor of 2012 in local C-ville Magazine.
Part one in a six part series on planning, saving, and
paying for college. A college degree is worth more than its weight in gold. In
fact, the value of a college education is worth about $1
million, according to a 2002 study conducted by the US
Census Bureau. In the face of rising college tuition costs,
education may seem like an impossible dream, but education
is a key part to your financial well-being. As with any big
investment, diligent planning and saving is required. After graduating from Stanford in 1982, my newlywed wife and
I moved to Eugene, Oregon.
[click here to read more]
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