President Obama raised capital gains rates to higher than Clinton levels.

[ProSense]

During the Clinton years, the short-term rate was taxed at the same rate as individual income (39.6 percent) and long-term capital gains at 20 percent, but because of the health care law, those rates now exceed Clinton levels. The short-term rate is now 43.4 percent and the long-term rate in 23.8 percent.

Capital gains rates are at the highest in more than two decades, higher than Clinton rates.

Capital gains goes to 23.8 percent and a tax increase also applies to incomes at $250,000
http://www.democraticunderground.com/10022116613

White House: The Seven Things You Need to Know About the Tax Deal
http://www.democraticunderground.com/10022118640

"Perhaps the best prism through which to see the Democrats’ gains is inequality."
http://www.democraticunderground.com/10022123732

[NoOneMan]

1. If the US went over the "cliff", what would the capital gains rates have been?

Anyone know?

[ProSense]

4. It's in the OP: Short-term 39.6 percent and long-term 20 percent

They're higher now as stated.

[NoOneMan]

7. So they are higher now than if no deal was made?

Sorry for the redundant question. Just curious about wonkish details.

[hfojvt]

18. no

the deal actually didn't change capital gains rates from what would have happened if nothing was done

but we are still supposed to celebrate this as a win for Benedict Obama

pay no attention to the fact that the deal LOWERS the tax rate on dividends from 39.6% down to 20%.

Obama will tell you he raised those from 15%.

He wants you to be happy with his betrayal.

I suppose we might as well be happy since there is not a tanjed thing we can do about it.

[HiPointDem]

10. Highest cap gains under clinton was 29.2%. so, no.

http://www.ctj.org/pdf/regcg.pdf

[ProSense]

11. Those are the maximum rates, and you

see that the max fell to 21.2 percent in 1997.

[HiPointDem]

13. Yes, they're the maximum rates, and they were in effect for 5 years of the 8 year clinton

presidency.

hence it's false to say rates are higher than during the clinton presidency.

[ProSense]

14. For four years, and

here are the rates for the other four years:

1993 to 1996
Top Regular Rates
Wages & Other Earned 43.7%
Unearned except cap gains 40.8%

Above Taxable Inc. (joint) of 255,100
Capital Gains Max 29.2%

1997 to 2000
Top Regular Rates
Wages & Other Earned 43.7%
Unearned except cap gains 40.8%
Above Taxable Inc. (joint) of 275,000
Capital Gains Max 21.2%

2013 on
Top Regular Rates
Wages & Other Earned 44.6%
Unearned except cap gains 44.6%

Above Taxable Inc. (joint) of 390,100
Capital Gains Max 25%

The rates on high income earners when up.

[HiPointDem]

15. your claim is false. why don't you just admit it, or amend it?

Besides which, cap gains tax would have gone up to 21.2 + 3.8% Medicare tax if we'd just jumped off the fiscal cliff.

Which is higher than what this deal brought.

http://www.ctj.org/pdf/regcg.pdf

[ProSense]

16. No, it's not and your link is a piece from 2011. n/t

[HiPointDem]

17. It's not a 'piece', it's a list of historical tax rates. Is there some reason you think a list from

2011 can't adequately show what tax rates were in the 90s?

and since you missed it:

Besides which, cap gains tax would have gone up to 21.2 + 3.8% Medicare tax if we'd just jumped off the fiscal cliff.

Which is higher than what this deal brought.

http://www.ctj.org/pdf/regcg.pdf

[hfojvt]

19. but Clinton set the precedent

betray the people and help the rich in his 2nd term.

Obama is just following in his footsteps. WWCD.

[HiPointDem]

21. i'm debating only the truth value of the claim made by the other poster.

[Agnosticsherbet]

2. They went up, that is the important thing.

It could be better, but the settement was negotiated not directed.

[obnoxiousdrunk]

3. So was

brother graham making shit up ?

http://www.democraticunderground.com/10022124052

[ProSense]

6. I don't know, but

"So was brother graham making shit up ?"

...that's completely inaccurate. The poster asked, "Am I wrong?"

Answer: Yup!

[PoliticAverse]

8. Not really, the Bush tax cuts did expire but tax rates can be set retroactively.

It's all about whether you want your base to be what the Bush rates were or what the actual
rates would have been (and were) had the cliff bill not been signed. For the next few years you'll
be hearing the cliff bill be called both the 'Obama tax cut' and the 'Obama tax increase'.

[ProSense]

9. It's completely wrong.

The rates did not go up to 40 percent and then lowered to 20 percent.

In fact, the rates when back to 39.6 percent and 20 percent, and then went up to 43.4 percent and 23.8 percent.

[hfojvt]

20. according to wiki, he is wrong

the capital gains tax rate only was gonna go up to 20% http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States

of course, wiki could be the "one" who is wrong.

[graham4anything]

5. another 10% of something is lot better than 100% of nothing-major victory for President Obama

[ProSense]

12. Kick! n/t