Wealthy may face higher taxes by 2013

05/29/2011 | InvestmentNews (free registration)

Wealthy Americans could face a big tax increase in 2013 as lawmakers tackle the federal deficit, analysts say. Public pressure is increasing for Congress to limit tax breaks on a host of items including mortgages, charitable giving, investments and retirement savings. Well-off taxpayers are also likely to see higher tax rates on income and capital gains.

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