Guaranteed income strategies have emerged as underutilized methods to not only help people save for retirement but also provide a stream of income to sustain… Regardless of political persuasion, even Canadians in the highest income bracket favour a wealth tax Thursday November 19, 2020: The pre-election higher tax concern may now be a reality and you would need to understand the biggest changes and the… Eaton Vance Municipal Income 2028 Term Trust (NYSE:ETX) declared a monthly dividend on Tuesday, November 3rd, Wall Street Journal reports. Investors of record on Monday, November 23rd will be given a dividend of 0.0709 per share by the investment management company on Monday, November 30th. This represents a $0.85 dividend on an annualized basis and […]
Guaranteed income strategies have emerged as underutilized methods to not only help people save for retirement but also provide a stream of income to sustain them during potentially longer life spans. The new study from the Longevity Project in collaboration with Principal Financial Group® and the Stanford Center on Longevity, explores the implications of longevity in retirement and potential policy and industry recommendations. According to the white paper, Lifetime Income to Support Longer Life: Retirement Innovation and the New Age of Longevity, people entering retirement tend to either overspend and withdraw funds at unsustainable rates, or they underspend, denying themselves basic needs because they’re afraid of running out of money.1
The average American turning age 65 today can expect to live 40% longer than someone who turned 65 in 1950.2 Furthermore, the number of Americans retiring every day has more than doubled over the last 20 years.3
Solving the puzzle of longer life and longer retirement
About the Longevity Project
Investment and Insurance products are:
Guarantees are based upon the claims-paying ability of the issuing insurance company.
3 U.S. Census Bureau / Deutsche Bank https://finance.yahoo.com/news/americans-retiring-increasing-pace-145837368.html
View source version on businesswire.com: https://www.businesswire.com/news/home/20201119005293/en/
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Survey finds widespread support for a wealth tax
A new survey from Abacus Data finds the majority of Canadians — including those in the highest income bracket — are in favour of a wealth tax.
Abacus polled respondents about a proposed 1% tax on Canadian residents whose assets exceed $20 million — an idea that has been championed by the federal NDP and Green Party.
Overall, 79% of Canadians said they supported the idea and 35% said they were strongly in favour of it. Support for the idea was high throughout Canada with at least 75% of respondents in every region of the country saying they favoured a wealth tax.
The idea also received broad support (73%) among households in the top income bracket.
Regardless of their political persuasion, most respondents were in favour of a wealth tax, including 64% of Conservative voters, 86% of Liberal voters and 87% of NDP voters.
In June, following the release of a Parliamentary Budget Officer report that revealed the top 1% of Canadians hold more than 25% of the country’s wealth, both the NDP and the Green Party renewed their call for a wealth tax.
To date, that call has fallen on deaf ears. Earlier this week, the Liberals, Conservatives and Bloc Quebecois voted against an NDP motion to impose a wealth tax. That motion was supported by the Green Party.
Abacus also polled respondents on another NDP proposal to impose an “excess profit tax” that would double the corporate tax paid by companies on profits that exceed pre-pandemic levels.
Support for that proposal was more tepid, but still widespread: 68% of respondents said they favoured an excess profit tax, including 58% of Conservative voters, 73% of Liberal voters and 77% of NDP voters.
In a statement, David Coletto, CEO of Abacus Data, noted that this was “not the first” Abacus poll to reveal widespread support for a wealth tax.
“What’s most striking is the general agreement across the political spectrum about a tax increase,” Coletto said. “Raising taxes on the rich and highly profitable corporations is one of the few ideas that both progressives and right populists agree on.”
Abacus surveyed 1,660 Canadians from Nov. 6–12, 2020. The survey’s margin of error is +/- 2.5%, 19 times out of 20. For further details and a regional breakdown, see the Abacus poll results.
Wealth tax – Wikipedia
“Capital tax” redirects here. For taxes on investment income, see capital gains tax.
For the tax formerly targeting wealthy minorities in Turkey, see Varlık Vergisi.
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Local Event: Post-Election Estate and Income Tax Planning in 2020 and Beyond
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The pre-election higher tax concern may now be a reality and you would need to understand the biggest changes and the immediate actions that will mitigate the Biden-Harris tax Proposal. In this intense fast-paced Class, wealth advisor/CPA John Lau will be addressing critical action steps to mitigate the estate and income tax changes including:
This webinar is best suited for individuals with >$3.5 million estate (or $7.0 million if married) or projection 2021 Income greater than $400,000.
Registration required for this online event: https://attendee.gotowebinar.c…
Securities offered through Fortune Financial Services, Inc. Member FINRA/SIPC. LFS Wealth Advisors and Fortune Financial Services, Inc. are separate entities and are not affiliated.
Additional information about LFS Wealth Advisors is available in its current disclosure documents, Form ADV, Form ADV Part 2A Brochure, and Form CRS. All are accessible online via the SEC’s Investment Adviser Public Disclosure (IAPD) database at www.adviserinfo.sec.gov, using SEC #801-113091.
Eaton Vance Municipal Income 2028 Term Trust (NYSE:ETX) Plans $0.07 Monthly Dividend
Eaton Vance Municipal Income 2028 Term Trust (NYSE:ETX) declared a monthly dividend on Tuesday, November 3rd, Wall Street Journal reports. Investors of record on Monday, November 23rd will be given a dividend of 0.0709 per share by the investment management company on Monday, November 30th. This represents a $0.85 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Friday, November 20th.
ETX opened at $21.63 on Thursday. The business has a fifty day moving average of $21.16 and a 200 day moving average of $20.89. Eaton Vance Municipal Income 2028 Term Trust has a 52-week low of $16.10 and a 52-week high of $22.75.
About Eaton Vance Municipal Income 2028 Term Trust
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Author: Ken Giver