Higher Taxes Are Coming. Are You Prepared? – A short look at some of the upcoming tax hikes we will all be facing. There are also some ideas on why and how some people may want to intentionally recognize income earlier than normal in order to get the taxes out of the way at their currently lower rates than the much higher rates that will be here in future years. 0Bambi’s stated desire to make long term capital gains rates higher as part of his Marxist definition of “fairness” create a number of tax planning opportunities.