Posted on 09/07/2012 10:56:05 AM PDT by Innovative
Good luck.
I’ll have to study this some more, but don’t think this will directly impact me much.
“Now cuts are set to expire on December 31, 2012”
That’s OK. The US will cease to exist as a sovereign nation on Dec. 21, 2012. The new Islamic Socialist Republic of the Western Hemisphere will takes it’s place, with Valerie Jarret as Chairman Val.
Impossible? Tin-foil hat ? (women wearing female genital costumes are parading on NATIONAL TV in front of children, and people think I’m crazy)
Maybe. We’ll know soon.
The GOP should push to alter and simplify the AMT so that regardless of the number of deductions, credits, exemptions ... EVERYONE has to pay in at least the lowest tax rate on their taxable income.
They are the Obama tax cuts. He took ownership when he extended them.
I agree. If half the country has no skin in the game,many will vote for a welfare POTUS, because it is in their interest to do so.
Unless you pay no income tax, note the bottome rung eliminates the lowest bracket entirely. Next up, if married, the marriage tax is back....so much so that my wife and I agreed if the SOB manages to do that, we get a paper divorce and become cohabitating adults for tax purposes. I am not giving that Kenyan one sou more than I absolutely have to.
I'm glad it doesn't affect you much, but for most people who income, savings, or investments, it is a brutal tax increase.
The AMT needs to die.
There is a Democrat running for Senate in Indiana named Joe Donnelly. In the House he has a solid record voting for all the Obama programs. But in his campaign, he tries to come off as a "moderate". He has a commercial supporting continuing the "Bush tax cuts" LOL.
Those of us who own small businesses had zero taxable profit this year, anyway, so what difference does it make?
Once everyone is subject to the AMT .. it will die
Are you sure that the rate is 164% for qualified dividends above the 15% tax rate pre-2013? I bet it is a typo.
15 * 1.64 = 24.8 + 15 = 39.8
Oh, I see. The number is white is supposed to represent the increase as a percentage. A thousand pardons.
I a curious if one of you can claim head of household?
No...no kids here.
Reference bump.
All this breathless news flash from your friendly fidelity financial advisor. And just what brilliant strategy do they suggest you take to make a dazzling response to this to realize your retirement dreams?
Factual but just useless.
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