Tax Laws Set to Expire

[DCal430]

There is also a new 3.8% surtax on all unearned for those making over 250,000/200,000 a year. So the evil rich will be paying 23.8% on capital gains next year, and 43.4% on dividends.

 

[Lithium381]

heard on the radio that the income limit before getting hit with some of this is:
single filers: 200k
married filers: 250k


wow if you're two successful people, getting married doens't make sense from a monetary standpoint

 

[Lithium381]

and a 55% estate tax!?!?!? taxes should NEVER be more than 49%. . .. who owns who?

 

[Engineer]

heard on the radio that the income limit before getting hit with some of this is:
single filers: 200k
married filers: 250k


wow if you're two successful people, getting married doens't make sense from a monetary standpoint

You have to make over $250k between the two people to be successful?

 

[Jhhnn]

heard on the radio that the income limit before getting hit with some of this is:
single filers: 200k
married filers: 250k


wow if you're two successful people, getting married doens't make sense from a monetary standpoint

and a 55% estate tax!?!?!? taxes should NEVER be more than 49%. . .. who owns who?

Those were the brackets & rates during the Clinton years.

How do you own a dead person, anyway?

 

[EagleKeeper]

As predicted, Boehner is preparing to throw high earned income filers under the bus to preserve the 15% rate on investment income-

http://www.newsdaily.com/stories/bre8bf0gd-us-usa-fiscal-taxes/

Near-seniors would take a hit wrt Medicare, too.

The number of earned income filers making over $1M/yr is vanishingly small, anyway, meaning increased revenues would be negligible. The big boys' income comes from investments, and Boehner will apparently do most anything to protect them.

The Democrats have been focused on the earned income bracket for the wealthy for their sound bites.

They also realize that there are many seniors that live off of dividends; do not want to piss them off by increasing their tax bracket. Dividends are not stepped up; the rate is applicable from the first $

 

[Jhhnn]

The Democrats have been focused on the earned income bracket for the wealthy for their sound bites.

They also realize that there are many seniors that live off of dividends; do not want to piss them off by increasing their tax bracket. Dividends are not stepped up; the rate is applicable from the first $

Dunno about any of that. One thing I'm sure of is that raising rates on earned income won't touch Mitt Romney type incomes, nor will limiting deductions in any significant way.

The only way to raise taxes on the ultra wealthy is to raise rates on investment income.

I recognize that some high income seniors depend on dividends for part of what they get. They also get SS, Pensions, deferred compensation from 401k's & Ira's, along with income from rental property. Dividends would be taxed at progressive earned income rates, anyway, leaving less affluent seniors relatively untouched. They don't pay 15% on any of their income.

 

[Phokus]

Many complain about Pres Bush and his antics ... but I doubt you'll see many complaining about how much he reduced taxes for both the MC and the wealthy. Yeah, Bush bashers tend to forget that ...

Who the fuck cares, he spent trillions on 2 wars and the new medicare drug benefit. Cutting taxes like that is irresponsible.

 

[Doppel]

People need to chill out on this fiscal cliff stuff. I am positive that, worst case, the taxes jack up on a very short term only. I fully expect the majority of people to realize NO increase at the start of the year as a result of this. Anything they see will be temporary and almost certainly reversed.

And now boner has agreed to basically meet Obama's demands. I respect Obama for this; the rich's taxes definitely did need to go up and now they were, apparently most with $400k or lower will stay the same.

Republicans must be so sore this year after losing the election and now this fight as well. The fools put themselves into an impossible corner.

Agree also that they will patch AMT.

You people need to stop worrying so much about media-hyped and politician-hyped nonsense. At the end of the day the politicians deal drugs and you're an addict and your addiction is low taxes. Everybody knows this, and nobody wants to stop dealing it. Whoever takes away the drug will be hated. Even the rich won't be paying much more taxes.

 

[Jhhnn]

And now boner has agreed to basically meet Obama's demands. I respect Obama for this; the rich's taxes definitely did need to go up and now they were, apparently most with $400k or lower will stay the same.

If rates on investment income are not raised & the carried interest provisions not set aside, then the wealthiest will have pushed the burden down the scale.

 

[Zivic]

How do you own a dead person, anyway?

by taking 55% of their estate. how many times were the dollars included in that estate already taxed? I bet once you include the 55%, they would likely be in the 90+% tax rate

 

[Nemesis 1]

While we may go over the cliff, both sides will give in to extending (maybe permanently) the tax rates and credits to those in the middle class. Good or bad, that will happen. May be in January or February but it will happen.

It shouldn't Were in deep shit . To get out of the hole We need all tax payers to pay more . THE POOR THE Middle The Rich , We need to cut entitlements not just medicare and SS. But welfare also . Welfare needs to get bang for its bucks . These people need to do some sort of Work . Food Stamps the whole programm needs to go . Unemployment . needs to be reworked so it treats all workers in all industry as equal . As it is now the construction industry unemployment requirments are of shorter duration than all all working classes . Its more a welfare system for construction workers than anything else .

 

[hal2kilo]

Actually if we took out all the republicans and democrats at once and replaced them with third party candidates or at least people who never held office before I truly believe a lot of problems could be fixed.

At the very least get rid of the fuckers who've held office 40 plus years. Those assholes are much better at keeping their jobs than doing their jobs. They play the game while Americans suffer.

I doubt it. They'll just be less savy as to how they are being manipulated by lobbyists and get run over like a steam roller.

 

[piasabird]

Just let them all expire and fix them later.

 

[Engineer]

Not so fast. Boehner sidesteps WH offer and goes for plan "B".

 

[diesbudt]

The fact that 250k a year is considered rich by our president is a joke. Where I live, 250k is upper middle class at best.

And another issue that people do not take in is this.

 

[DisgruntledVirus]

And another issue that people do not take in is this.

There are very few areas where $250k/yr income is "barely upper middle class." And if you choose to live in one of those (downtown NYC for example), that's your choice. There are people in NYC living off 1/4 of that. If you can't live with $250k without issue, then perhaps you should reevaluate where your finances are going.

 

[Engineer]

WH dismisses Boehner's offer. States that it doesn't increase (enough?) taxes on the top.

This is a dog and pony show. Show both bases that you are working hard to end this but you go over while trying. Then, you magically extend everything to those below a certain threshold and say "Look, we saved you and cut your taxes" and "we never voted to raise taxes". All will then be well in the world.

 

[piasabird]

I am really tired of the president threatening higher taxes every five minutes! How is that suppost to help people in business? The president just hates people that work for a living. To the president and congress the middle class are just slaves.