YCG Investments
“If you buy above average businesses at below average prices, on average, we believe you should come out ahead.” — Brian Yacktman

Happy Tax Day

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Happy Tax Day! A few days ago, the WSJ referenced a study by the Tax Policy Center that “found that to reduce the federal budget deficit to a sustainable 3% of GDP, the government would have to find an average of about half a trillion dollars each year in new revenue (or spending cuts). To cover that amount through tax increases on the top two brackets—roughly, families with more than $209,000 in taxable income—top rates would have to go from the current 33% and 35% to 72.4% and 76.8%, the study found.” (“For Top Earners, Tax Bite Is Likely to Be Worst”). Certainly, the question isn’t if taxes will rise, but when…which will hinder growth.

Disclaimer: The specific securities identified and discussed should not be considered a recommendation to purchase or sell any particular security. Rather, this commentary is presented solely for the purpose of illustrating YCG’s investment approach. These commentaries contain our views and opinions at the time such commentaries were written and are subject to change thereafter. The securities discussed do not represent an account’s entire portfolio and in the aggregate may represent only a small percentage of an account’s portfolio holdings. These commentaries may include “forward looking statements” which may or may not be accurate in the long-term. It should not be assumed that any of the securities transactions or holdings discussed were or will prove to be profitable. Past performance is no guarantee of future results.

Posted by: Brian Yacktman | April 15, 2010 | Permalink

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