capital gains and dividend income at 15 percent and zero for households making less than $200,000 a year.
Romney's plan would cut individual rates by 20 percent and eliminate the estate tax and alternative minimum tax, which is a parallel calculation designed to keep high-income people from legally avoiding all taxes. He would leave the top rates on capital gains and dividend income at 15 percent and cut them to zero for households making less than $200,000 a year.
He would leave the top rates on capital gains and dividend income at 15 percent and cut them to zero for households making less than $200,000 a year.
And of course balance the budget and increase defense spending. And increase education without cutting social security. I have a bridge in Brooklyn I'd like to sell you.
The repubs are the ones talking about the deficit and it's thier tax cuts and unfunded war that created it. So of course let's have more of the same. Of course O'bummer isn't going to save us either but neither is the guy with the magic underpants and offshore bank accounts
Let's be clear one one thing about the current deficit: it got to be what it is for two reasons --- and ONLY 2 reasons --- (1) the Wars in Iraq and Afghan., started by "W" Bush and continued by Obama (when he had a chance to pull out immediately after being elected ... he didn't, so now it's his war); and (2) Overspending by Democratic-controlled Congresses and encouraged by Barack Hussein Obama (remember the HUGE bank bailouts?).
Or Mike, your leaving a lot out.
They will have to get rid of some deductions and loop holes, so there will be a tax gain in some spots, but a tax loss in others.
The best they can do is shift the taxes around.
They will not be able to just substantially cut taxes alone.
A figurative "Lol" for me (a painful grimace, really) when I think back to years past when I would come close to capping off a 2 day effort to calc my taxes.. Come up with a number that seemed reasonable to me... And then do the final AMT calc at the end and get the shock of my life on how many thousands of dollars in taxes it tacked on for no good reason!
Nowadays I'm just used to it and have given up any real hope that AMT will ever go away.
Every year I fear more and more that the masses are realizing they can "vote themselves free money" with ease. How "irresistible" that you can spend a couple minutes on a ballot and choose to simply take money from those who earn more than you do, to benefit yourself? It doesn't appear to hurt you, and can only seemingly help you. Or alternatively, why not tell the Fed government via your vote that sure, it's ok to spend $$ that it doesn't have. Where is there any mechanism to provide direct and obvious feedback that such a ballot choice could have a negative impact on you in the long run?