Wrong again, surprise, surprise.<quoted text>
Ah, I see you now admit it.
Keeping taxes low, even during amazing stock market growth does nothing to help the job markets.
So much for your "job-creators" and "trickle-down" theory that is one of the key principles of the Republican Party. Turns out is was just BS to make the rich richer and the poor poorer.
I guess now even you can admit that their policies are pure failures and there's no reason for the Republicans to even exist at this stage.
Good for you.
Changes in 2013 taxes:
There is a new top tax bracket of 39.6%.
There are two new surtaxes starting in 2013:
An additional Medicare tax of 0.9% on wages and self-employment income, and
A net investment income tax of 3.8% on the lower of modified adjusted gross income or net investment income.
Both of these new taxes apply to individuals earning more than $200,000 (for single filers) or $250,000 (for married filing jointly).
Taxpayers in the highest tax bracket of 39.6% potentially face a combined 43.4%(39.6%+ 3.8%) marginal tax rate on their income.
Other Tax Rates are Also Changing
The Social Security tax has reverted back to its normal rate of 12.4%(it had been at 10.4% for 2011 and 2012).
The Medicare tax remains at 2.9%, plus there's an additional Medicare tax of 0.9% on wages and self-employment over a threshold amount.
The capital gains tax rates have a new 20% top rate. There are now three tiers of tax rates on capital gains and qualified dividends: 0%, 15%, and 20%.(Capital gains could also be subject to the new net investment income tax of 3.8%, making the top rate on long-term gains effectively 23.8% combined.)
The alternative minimum tax rates remain at 26% and 28%.
Payroll taxes went back up. The payroll tax holiday was allowed to expire. The employee portion of Social Security contributions returned to 6.2%(from 4.2%).
The federal estate tax exemption remains at $5.12 million (indexed for inflation). The top tax rate went from 35% to 40%.
And of course you completely ignore the impact Obamacare has had on employers and their hiring decisions. Another big surprise.