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December 2012

  • Broadcast in Politics
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BostonRed

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The Bush taxcuts exprires at the ernd of the year(1 January 2013).And the GOP will wait until after the election to act.

    The two "marriage penalty elimination" provisions will expire, so that:
    The standard deduction for married couples will fall, no longer double what it is for single filers; and
    The ceiling of the 15% bracket for married couples will fall, no longer double what it is for single filers
    The 10% tax bracket will expire, reverting to 15%
    The child tax credit will fall from $1,000 to $500
    The tax rate on long-term capital gains earned by middle- and upper-income people would rise from 15%     to 20%
    The tax rate on qualified dividends earned by middle- and upper-income people would rise from 15% to     ordinary wage tax rates
    The 25% tax rate would rise to 28%
    The 28% rate would rise to 31%
    The 33% rate would rise to 36%
    The 35% rate would rise to 39.6%
  

This is a call to action to pregressives by Van Jones.

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