General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPresident Obama raised capital gains rates to higher than Clinton levels.
During the Clinton years, the short-term rate was taxed at the same rate as individual income (39.6 percent) and long-term capital gains at 20 percent, but because of the health care law, those rates now exceed Clinton levels. The short-term rate is now 43.4 percent and the long-term rate in 23.8 percent.
Capital gains rates are at the highest in more than two decades, higher than Clinton rates.
Capital gains goes to 23.8 percent and a tax increase also applies to incomes at $250,000
http://www.democraticunderground.com/10022116613
White House: The Seven Things You Need to Know About the Tax Deal
http://www.democraticunderground.com/10022118640
"Perhaps the best prism through which to see the Democrats gains is inequality."
http://www.democraticunderground.com/10022123732
NoOneMan
(4,795 posts)Anyone know?
ProSense
(116,464 posts)They're higher now as stated.
NoOneMan
(4,795 posts)Sorry for the redundant question. Just curious about wonkish details.
the deal actually didn't change capital gains rates from what would have happened if nothing was done
but we are still supposed to celebrate this as a win for Benedict Obama
pay no attention to the fact that the deal LOWERS the tax rate on dividends from 39.6% down to 20%.
Obama will tell you he raised those from 15%.
He wants you to be happy with his betrayal.
I suppose we might as well be happy since there is not a tanjed thing we can do about it.
HiPointDem
(20,729 posts)ProSense
(116,464 posts)see that the max fell to 21.2 percent in 1997.
HiPointDem
(20,729 posts)presidency.
hence it's false to say rates are higher than during the clinton presidency.
ProSense
(116,464 posts)here are the rates for the other four years:
1993 to 1996
Top Regular Rates
Wages & Other Earned 43.7%
Unearned except cap gains 40.8%
Above Taxable Inc. (joint) of 255,100
Capital Gains Max 29.2%
1997 to 2000
Top Regular Rates
Wages & Other Earned 43.7%
Unearned except cap gains 40.8%
Above Taxable Inc. (joint) of 275,000
Capital Gains Max 21.2%
2013 on
Top Regular Rates
Wages & Other Earned 44.6%
Unearned except cap gains 44.6%
Above Taxable Inc. (joint) of 390,100
Capital Gains Max 25%
The rates on high income earners when up.
HiPointDem
(20,729 posts)Besides which, cap gains tax would have gone up to 21.2 + 3.8% Medicare tax if we'd just jumped off the fiscal cliff.
Which is higher than what this deal brought.
http://www.ctj.org/pdf/regcg.pdf
ProSense
(116,464 posts)HiPointDem
(20,729 posts)2011 can't adequately show what tax rates were in the 90s?
and since you missed it:
Besides which, cap gains tax would have gone up to 21.2 + 3.8% Medicare tax if we'd just jumped off the fiscal cliff.
Which is higher than what this deal brought.
http://www.ctj.org/pdf/regcg.pdf
hfojvt
(37,573 posts)betray the people and help the rich in his 2nd term.
Obama is just following in his footsteps. WWCD.
HiPointDem
(20,729 posts)Agnosticsherbet
(11,619 posts)It could be better, but the settement was negotiated not directed.
obnoxiousdrunk
(2,910 posts)brother graham making shit up ?
http://www.democraticunderground.com/10022124052
ProSense
(116,464 posts)"So was brother graham making shit up ?"
...that's completely inaccurate. The poster asked, "Am I wrong?"
Answer: Yup!
PoliticAverse
(26,366 posts)It's all about whether you want your base to be what the Bush rates were or what the actual
rates would have been (and were) had the cliff bill not been signed. For the next few years you'll
be hearing the cliff bill be called both the 'Obama tax cut' and the 'Obama tax increase'.
ProSense
(116,464 posts)The rates did not go up to 40 percent and then lowered to 20 percent.
In fact, the rates when back to 39.6 percent and 20 percent, and then went up to 43.4 percent and 23.8 percent.
hfojvt
(37,573 posts)the capital gains tax rate only was gonna go up to 20% http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States
of course, wiki could be the "one" who is wrong.