$1,000 less per year take home for my family yet...
From $250K to $400K.
The estate tax threshold stays at $5 million.
And in two months we get to compromise more.
Plus:
Meanwhile, the deal contains a major giveaway to Wall Street, which won a 20 percent rate on dividends above $400,000, a rate that otherwise would've risen to the Clinton-era rate of 39.6. (That doesn't include an additional 3.8 percent that will be implemented to pay for health care reform, another tax hike that received little attention.)
The deal is also chock full of goodies for corporate America, including millions for NASCAR and Hollywood, and billions to extend overseas corporate tax breaks and other loopholes.
http://www.huffingtonpost.com/2013/01/01/fiscal-cliff-deal-passed-_n_2394022.html
Eight Corporate Subsidies in the Fiscal Cliff Bill, From Goldman Sachs to Disney to NASCAR
Throughout the months of November and December, a steady stream of corporate CEOs flowed in and out of the White House to discuss the impending fiscal cliff. Many of them, such as Lloyd Blankfein of Goldman Sachs, would then publicly come out and talk about how modest increases of tax rates on the wealthy were reasonable in order to deal with the deficit problem. What wasnt mentioned is what these leaders wanted, which is whats known as tax extenders, or roughly $205B of tax breaks for corporations. With such a banal name, and boring and difficult to read line items in the bill, few political operatives have bothered to pay attention to this part of the bill. But it is critical to understanding what is going on.
Read more at
http://www.nakedcapitalism.com/2013/01/eight-corporate-subsidies-in-the-fiscal-cliff-bill-from-goldman-sachs-to-disney-to-nascar.html#WU2PWxL6tVTAkZ3C.99
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The rightwing runs this country.