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View Diary: Breaking down the House fiscal cliff vote (90 comments)

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  •  For those with investment income and income (0+ / 0-)

    Greater than $200k single and $250k joint,  there is an additional 3.8% tax on investment income that started on Jan 1.

    In addition, today's deal phases out deduction for those with higher incomes, effectively have a buldge of higher marginal tax rates.

    Keep in mind that the Bush rates were more progressive than the Clinton rates, as the percent tax cut was greater for lower incomes than higher incomes.  

    The cross-over point where people are paying more in taxes depends upon income sources and deductions.

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

    by nextstep on Wed Jan 02, 2013 at 06:28:50 PM PST

    [ Parent ]

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