"Screams about how these top-bracket income tax and capital-gains tax increases will ruin the economy by hammering spending and eliminating the incentive to work can be seen for what they are: The whining of people who don't want their taxes to go up."
and that will happen ONLY IF the republicans obstruct democrats who do NOT want that to happen. . . maybe republicans do want that ... they are angry .... so what the hell .. take it out on everybody
... that's republicans for ya ..
Instead of distorting your articles .. try posting at least some of the truth in them .. -
Unless Congress intervenes, taxes are set to rise significantly on January 1st, when we hit the "fiscal cliff."
Most of the focus of this tax increase has been on income taxes.
Income taxes for incomes over ~$388,351, for example, are set to revert back to the Clinton-era 39.6% from the current 35%.
That's a relatively modest increase, and a 39.6% tax for the top bracket is still historically low.
_________On January 1, dividend taxes for those in the top tax bracket will jump from the current 15% back to the Clinton-era 39.6%. And then a new 3.8% surcharge to pay for Obamacare will be added on top, for a total top tax rate on dividends of 43.4%.
In short, unless Congress compromises, the top bracket for federal dividend taxes will nearly triple on January 1, from 15% to 43.4%.
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