Happy New Year or something. The Senate Republicans have caved just as expected and agreed to a lousy fiscal cliff deal. The early reports are that tax rates will go up on those ‘evil rich’ and small businesses making $400,000 or more per year. Sequestration has been punted for 2 months which means that we will be right back at this crap by March. Also, everyone, regardless of income level (who works) will see their taxes go up because the payroll tax ‘holiday’ is being allowed to expire. So technically, Obama, and these shameless Republicans are raising taxes on everyone! Here are some other ‘details’ of this lousy deal:
The death tax: will rise to 40% for estates valued over $5 million
Unemployment benefits extended for one years w
Alternative Minimum Tax (AMT): a permanent ‘patch’ or fix
Capital gains tax: Capital gains and dividend tax rates will increase from 15 to 20 percent. If you make over $250,000 this tax will rise to 23.8% because of ObamaCare.
The Doc Fix is in
Renewable energy tax credit: More tax credits for more Solyndra.
Happy New Year America! You voted for these jackwagons!