Kerry M. Kerstetter, CPA (referred to as The Tax Guru by other CPAs around the country) helps capitalists, investors & small business owners win the tax game. See www.TaxGuru.org for much more detailed info.
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Tax Guru-Ker$tetter Letter
Friday, June 04, 2004
Tax Hikes Still Under Way In PRC
They are as desperate as ever for new sources of revenue in the PRC, as indicated by these latest proposals, courtesy of Spidell
Independent contractor withholding proposal - This is an extension of a popular tactic by government rulers, snatch some money right up front. In this case, they are proposing two percent of the gross of payments for services. It will in effect deputize millions more people as tax collectors for the State government.
Proposed tax on wealthy to pay for mental health - More of the typical soak the rich mentality from the rulers in Sacramento. How hard will it be to get people to vote to stick it to those evil fat cats making over a million bucks a year? After this passes, the floodgates will open for many more such levies on the wealthy. It may only be one percent; but when you have a few dozen of those one percent taxes, we're talking about some big bucks.
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 6/04/2004 08:45:00 AM Send this post:
