As we're all waiting for the smoke to clear, so we can see the new direction of our country, I will only surmise that those of us who still have a solid income above $150,000/year will be facing more taxes in the near future. Tax the more productive elements of our society and redistribute some of the money to those who were unwise in managing their finances: this seems to be the plan of the Obama administration, one that will be copied on the state and local level.

It's a good time to start thinking about how to protect your earnings from higher taxes, if you even have sufficient earnings to worry about. One way to do this is to start looking for another country to emigrate to, where taxes are not so oppressive.

Higher taxes are certainly a danger to your retirement plans, so you need to take countermeasures.

You may find this chart useful in your search:http://en.wikipedia.org/wiki/Tax_rates_around_the_world