wiffleball 4,617 Posted September 19, 2021 Raise a trillion dollars to fight against the debt? While 90% of the country doesn't see their tax rates change at all? Works for me. https://www.cnn.com/2021/09/19/politics/democrats-taxes-rich-explainer/index.html Share this post Link to post Share on other sites
wiffleball 4,617 Posted September 19, 2021 The House legislation calls for reversing a key plank of the Republicans' 2017 tax cuts by returning the top marginal income tax rate to 39.6%, up from 37%. That new top rate would apply to single filers with taxable income greater than $400,000 a year and married couples filing jointly earning more than $450,000 annually. Share this post Link to post Share on other sites
wiffleball 4,617 Posted September 19, 2021 The top capital gains rate would increase to 25%, from 20%, for individuals earning more than $400,000 and couples making more than $450,000. That's lower than Biden's proposal, which would have raised it to the top marginal rate for wages and salaries of 39.6% for those earning more than $1 million annually. In addition, lawmakers would slap a 3% surcharge on individuals earning more than $5 million. This means that their top marginal income tax rate would rise to 42.6%, and it would push their capital gains rate to 28% before the 3.8% net investment income tax is factored in Share this post Link to post Share on other sites