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View Diary: Super Congress talks about punting: Spending cuts now, maybe taxes later (165 comments)

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  •  Doing nothing still gets major 2013 tax increases. (0+ / 0-)

    End of the Bush Income Tax cuts and the income tax increase from PPACA (Healthcare Reform) go into effect in 2013 under current law.  So the top ordinary income tax goes from 35% to  42.5% (a greater than 20% tax increase) and the long term capital gains tax goes from 15% to 22.6% (a greater than 50% tax increase).

    The most important way to protect the environment is not to have more than one child.

    by nextstep on Mon Nov 14, 2011 at 11:08:17 AM PST

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