One reason for the enthusiasm could be because there are several key financial issues at stake this year. In some cases, your personal finances could be affected by the election outcome.

Tax Policy

A number of tax laws are set to expire after December 31. As a result, many tax rates are slated to revert to higher levels, especially for investors and high-income earners.

Although Congress could decide to extend the lower rates for some or all taxpayers, the federal government is facing trillions of dollars in mandated spending and a national debt that is growing at an unprecedented rate. Many experts believe the only way Congress will be able to meet these obligations is by raising taxes. Although the election outcome will almost certainly have an effect on near-term tax policy, it’s probably a good idea to expect tax rates to be higher in the future and to look for legal ways to help reduce your tax burden.

Stimulus Spending

Although the $787 billion Recovery Act continues to pump money into the economy, there is little agreement over the effect it has had on economic activity and the high unemployment rate. The White House maintains that the stimulus package is on track to save or create 3.5 million jobs by the end of 2010, but 62% of Americans and 73% of private-sector economists believe the spending has not helped create jobs.^2–3 Some officials have warned that when the stimulus spending ends in 2011, there could be layoffs of state and local government workers because some of the money was used to avoid layoffs in 2009 and 2010.⁴ The debate over the effectiveness of using borrowed money to stimulate the economy could play a pivotal role in the election.

Health-Care Reform

The sweeping changes called for by the health-care legislation passed in March 2010 aren’t set to be fully implemented until 2014. Between now and then, look for health-care reform and its effects on the economy to be an ongoing political issue.

Regardless of your enthusiasm for participating in the upcoming elections, it’s important to consider how the 2010 mid-terms could affect your finances.

1) Gallup, 2010
2) Pew Research Center, April 28, 2010
3) CNNMoney, April 26, 2010
4) The Wall Street Journal, February 17, 2010

The information in this article is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Emerald. © 2010 Emerald.

Securities offered through HBW Securities LLC, Member FINRA/SIPC. 3355 Cochran St., Suite 100, Simi Valley, CA 93063, (800) 473-3856. HBW Insurance & Financial Services, Inc. is a separate entity from HBW Securities LLC. HBW Securities LLC does not give tax or legal advice. Chris Lim is a registered representative. Chris Lim is registered to sell securities in the following states (CA License #0G69788).

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He immediately jumped on “his” plane and began circling the globe to tell every dictator and socialist country that America is sorry for our sins of the past, but now we’re a new nation … One among many … a fellow sojourner in this Global Family.  When he was done with his humbling of America, Obama then began his war agenda.  It started with closing down Guantanamo and ending the unlawful war in Iraq … oops, that didn’t go so well.

Obama then turns to his domestic agenda.  Right out the gate he begins (again with great fan-faire) his Health Care Reform.  The Obama cheers once again quickly turn into jeers and his attempt to socialize our medical infrastructure is met with overwhelming opposition from We The People.  Turning a blind eye and deaf ear to the will of the people the Obama Administration literally force the bill through in the dead of the night using tactics that would make Al Capone proud.

The Obama Administration realizing that they have been a complete failure thus far in their reign decides to change tactics.  Obama now knows that We The People will not allow him to force his socialist policies on America in the light of day and with trumpets blaring, thus he decides to take his agenda off Main Street and moves it to the back alleys.

Using this new tactic Obama finds success!  His administration was able to force through the Financial Reform Bill with much less opposition.  Almost without notice Obama was able to seize control of just about every financial transaction that you and I will make.

Enjoying the success of this clandestine approach Obama is not attacking Free Speech.

The Federal Government now has control of your body and health care – Restricting Your God-given Right To Life

The Federal Government now has control of your personal finances – Restricting Your God-given Right To The Pursuit Of Happiness.

Now the Federal Government will control what you believe and how you are allowed to express your beliefs – Restricting Your God-given Right To Liberty

The Obama Administration has complete disdain for the rule of law, evidenced by Kagan (who doesn’t believe in the Declaration of Independence) and the Administrations unprecedented fight against the good citizens of Arizona … They Must Be Stopped … I pray it’s not already too late!