Tapping the kiddies' piggy banks ... again
Sunday, February 11, 2007
Everyone talks about how America's young people are going to have to pay tomorrow for today's budget excesses. Actually, they're already paying. Case in point, the kiddie tax. OK, practically speaking, it's their parents now paying more (ain't that always the way it goes, Mom and Dad?). But the law that was changed last May officially applies to the investment earnings of youngsters, potentially bumping up the taxes collected on accounts held in a child's name. Details here. Now, as the House and Senate struggle to agree on a bill to raise the minimum wage from $5.15 an hour to... Read more →