Democratic Congress could alter tax climate

BOULDER – The tax climate in the United States likely will change with the resurgence of the Democratic Party, according to tax experts at the Boulder Valley Real Estate Conference & Forecast.

Michael Weathermax, a CPA and president of Weathermax & Associates PC, said the government will likely adopt a “tax-and-spend” methodology, in contrast to the “borrow-and-spend” method used by Republicans.

“It’s going to be a spend-as-you go situation instead of a borrow-and-spend, which affects our grandchildren,” he said.

He also acknowledged that a democratic regime is more likely to increase taxes on the upper 5 percent, and he does not think it…