Gingrich to Newsmax: Republicans Must Hold Line on Taxes
Republicans in Congress should be putting options on the table to raise government revenues as part of fiscal cliff negotiations, but raising taxes should not be one of those options, Newt Gingrich said in an exclusive interview with Newsmax TV.
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#1 Nov 17, 2012
We need to focus on lower taxes and job creation.
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#2 Nov 19, 2012
Taxes are the lowest they'v been in a long time, especially for the top bracket.
2009-2011 Federal tax rate for married people filing jointly (I tried to pick what would have been a mid-income family during each designated time period)
$68,000-$137,300 = 25%
TOP rate (over $379,150)= 35%
$45,000-60,000 = 49%
TOP rate (over $215,400)= 70% PLEASE NOTE
$45,000-90,000 = 35%
TOP rate (over $90,000)= 38.5
(After 1987, tax rates got very complicated, with tax bubbles, etc. there is no straightforward tax table)
We do need to simplify the laws and get rid of a lot of deductions.
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