RUTHLESSLY MOCKING GLENN REYNOLDS AND OTHER PUTZEN SINCE 2006. HEHINDEEDY!
To the Republicans, tax cuts for the rich is what the One Ring is to Gollum."My preciouuuusssss tax cuts!"
I know these GOPers don't care about the country, but they sure ans hell care about themselves. Either they're still punch-drunk from their election pounding or they're expecting the liberal media to do their PR work for them in the new year. It stops being just a cute story for the villagers when the capital gains tax goes up.Like Driftglass and BlueGal, I would sure like to see what's in the stock portfolios of Davids Brooks and Gregory.Currently:Most capital gains are taxed at 15 percent. Investors in the 10 percent and 15 percent tax brackets do not owe any capital gains on profits from asset sales. Qualified dividends receive the same treatment as capital gains.After Jan 1:Top capital gains rate for most investors will be 20 percent. The zero capital gains rate will return to 10 percent. Dividends will be taxed as ordinary income, meaning the top rate could be 39.6 percent.Poor babies are gonna see dividend taxes go from 15% to 39.6%. No wonder THEY call it a cliff.http://www.bankrate.com/finance/taxes/fiscal-cliff-expiring-tax-laws.aspx
At this point, the job creators have had 11 years for the Bush tax cuts to spur them to create jobs. We've had the weakest job growth in modern history since the passage of the Bush tax cuts, as well as the deepest recession since the 1930s.
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