In fact, the only groups likely to face a tax increase are those near the bottom of the income scale — individuals who make less than $20,000 and families with earnings below $40,000.
To the wealthiest Americans, however, an assortment of breaks is available.
The plan includes a two-year “patch” for the alternative minimum tax, which is now paid by about 4 million taxpayers with income in the mid- to high six figures. Without the patch, more than 20 million additional taxpayers would have been liable for that tax.
The estate tax — which was allowed to lapse this year and was scheduled to resume at a rate of 55 percent on most assets above $1 million — will be reinstated under less onerous terms. Estates over $5 million will be subject to a 35 percent tax.
The proposal will also maintain the current rates on dividends and capital gains, averting scheduled increases to ordinary income and 20 percent, respectively.
The marginal tax rate on high incomes will also remain unchanged. The top brackets had been scheduled to increase to 36 percent and 39.6 percent, from 33 percent and 35 percent.
boo pee doo pee doo pee doo
So what we’ve got here is a possible tax increase on the very poorest Americans? Way to go.
Think of it this way. with out the wealthy people, none of the poor people get jobs.
so suck it.
First of all, you’re 14 years old. You don’t know shit about job creation or economics, for that matter. Second, the rich are good at one thing: getting rich. No one got rich by creating more jobs; rather they get richer the more jobs they eliminate or ship overseas. Don’t be an idiot.
i think you’re 14 and an idiot.
who is still buying into this myth that the rich create jobs when they are given tax breaks? watch and learn for the next couple of years.
Exactly. It’s for the same reason that being a server at a restaurant. Sometimes you get good money from them. Sometimes they don’t tip. Nothing obligates a person to tip, unless you charge gratuity (unions). Sometimes, they take up a large portion of your time and effort without so much as caring about you. Then they still don’t tip.