A reminder for those who forgot or for
many that didn't know
Here is what will happen on January 1, 2015 :
Top Medicare tax went from 1.45% to 2.35%
Top Income tax bracket went from 35% to
39.6%
Top Income payroll tax went from 37.4% to
52.2%
Capital Gains tax went from 15% to 28%
Dividends tax went from 15% to 39.6%
Estate tax went from 0% to 55%
Remember this fact:
These taxes were all passed only with
democrat votes, no republicans voted for these taxes.
These taxes were all passed under the
Affordable Care Act, aka Obamacare.
For retirees, you already cannot get a
good return on savings or CDs. Now the tax on Capital Gains increases
87% and the tax on qualified dividends increases 164% You take all the
financial risk investing in stocks and the government takes a huge chunk of
any gains you may have if you have invested wisely. Of course, the
government is run so efficiently and spends our tax dollars so effectively we
should consider our taxes a privilege. Wonder what the President's 17
day vacation in Hawaii costs the tax payers -$50-$100
million???
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