Indeed the award for class warfare. As if my title didn’t say the whole thing you, my intrepid reader, should be able to fill out the rest. And if you don’t quite know what I am talking about then go ahead and read this little column for all the juicy tidbits.
We managed, somehow, against all odds to come up with a shoddy deal to avoid the fiscal cliff past the closing moments after it was due. Mostly in part to the fact that there was a vacation and New Year’s celebration going on that kept any of the sequestration and taxation legislation from going into full effect. Whee. We’re saved. Not really, what the Senate illegally proposed and what the House foolishly passed, ceding their rights to author revenue bills in the process, was something akin to slapping a band-aid onto a crack in the Hoover Dam. Will it hold? I don’t know, but I don’t really want to wait around at the base of the dam to find out either.
And now for the good news…
I mean here is the good news….
Okay, some people won’t be taxed as much as if we had gone off the fiscal cliff, tah dah.
Here is your trophy for the class warfare award. People, businesses, and others making over 400K or 450K if married, will now pay 39.6% income taxes….yay, the rich must pay…go ahead and soak that one percent. They can afford to pay more anyway, it has never been proven to hinder the economy if you don’t count the 30’s, 40’s, 50’s, 60’s and other high tax rate decades.
The tax on capital gains climbs from 15 percent to 20 percent (23.8 percent if you include the Obamacare tax on investment income), no more low taxes for you there for investing in the future and success of businesses in America.
The death tax rate is boosted from 35 percent to 40 percent (which doesn’t sound like a big step in the wrong direction until you remember nothing in 2010, try not to die in the next few years, or just sell everything to your relatives on the cheap. They haven’t outlawed that yet anyway.
The alternative minimum tax will still exist, though it will be “patched” to protect as many as 30 million households from being swept into this surreal parallel tax system that requires people to use a second method of calculating their taxes – with the government getting the greatest possible amount. I’m sure that will work to the benefit of the people.
Unemployment benefits are extended…to 92 weeks of unemployment. So, two years of being without a job isn’t a disincentive to find work. No really, pay people who can’t or won’t find a job for that long and see how many of them can find work in 4 months…strangely I bet it is few and far between.
Medicare spending is increased as part of a “doc fix” to increase reimbursement payments for providers. Oh wait, that is spending, not cutting. But hey, these are the kind of Libtards and Conservaholes we have working in D.C. for us.
This deal does nothing to cap the out of control government spending that has been going on for years, nor does it address the out of control entitlement programs that continue to grow and reach into new areas like a cancer, seeking to find any wealth and destroy it by giving it to someone who is going to do nothing with it but spend it frivolously. Oh yeah, and they kicked that sequestration down the road a couple of months so they can kick it down the road a couple more…and we still have no budget.
Viva la Class Warfare!