2016 Postmortem
Related: About this forumJust saw this on a republican's page on FB
FYI
A reminder for those who forgot or for many that didn't know
Here is what will happen on January 1, 2015 :
Top Medicare tax went from 1.45% to 2.35%
Top Income tax bracket went from 35% to 39.6%
Top Income payroll tax went from 37.4% to 52.2%
Capital Gains tax went from 15% to 28%
Dividends tax went from 15% to 39.6%
Estate tax went from 0% to 55%
Remember this fact:
These taxes were all passed only with democrat votes, no republicans voted for these taxes.
These taxes were all passed under the Affordable Care Act, aka Obamacare.
If you think that it is important that everyone in the U.S. should know this, please share it.
HAPPY NEWS YEAR TO ALL
Atman
(31,464 posts)So, these taxes were all passes under a GOP-led Congress, right?
As I recall, any time you mention the SUCCESSES of Democratic presidents such as Bill Clinton, these same people say the only reason is because the GOP Congress made it happen.
So how, exactly, did all these new taxes get voted into law while the MAJORITY in Congress opposed them?
The stupid runs deep in the GOP.
1StrongBlackMan
(31,849 posts)I read that the President Obama Administration and Democrats caved and haven't raised taxes on the wealthy ... this can't be correct.
"Congress" = House + Senate.
"GOP led congress" is a misnomer. "GOP led house" is accurate.
Atman
(31,464 posts)If The Houses passes a tax bill, it goes to committee where they ALL must work out the details.
NONE of these so-called taxes, if they're even true, could possibly have passed with the GOP holding the majority of The House, while having filibuster power in the Senate. Therefore, it certainly stands to reason that not one of the provisions listed could have passed without the approval of the GOP.
rock
(13,218 posts)All the way out the other side!
arcane1
(38,613 posts)I don't see myself inheriting an estate any time soon, for example, and even the founders had issues with hereditary wealth.
Go for it.
Atman
(31,464 posts)Last edited Mon Dec 29, 2014, 02:38 PM - Edit history (1)
I doubt you need a civics lesson from me, but taxes pay for the roads, bridges, airports, and sadly even football stadiums. When you say that no one except poor people have to pay taxes, if affects you because you pay more while the people that OWN the airports and football stadiums are off the hook...they only get the socialized profits, never suffer the socialized losses. It most certainly affects you on many levels.
arcane1
(38,613 posts)The taxes described in the OP are all geared toward a "top" of which I am not. An increase in capital gains taxes won't affect me since I have no capital gains to tax, for example.
If anything, these taxes benefit me because they increase revenue.
Atman
(31,464 posts)Even if this list was true, which it is not, you are affected. That is the whole point. I have a rich brother who would be impacted by all of these changes -- but he certainly doesn't look at Facebook. He doesn't care. You're affected because he'd rather that YOU continue to pay the taxes and let him off Scot-free. But if he now actually has to pay into the system, in theory at least it reduced your tax burden and mine. It absolutely affects you. What is amazing to me is how many low-wage Facebook poster will just read this and say "See, I told ya' so, Obammy is trying to take all our money!" Even though they wouldn't be affected, and it is actually these very same rich people who are trying to take their money.
unblock
(52,196 posts)Viral email: THE FIRST THREE MONTHS!
Happy New Year America
Here is what happened on January 1st 2014:
Top Income Tax bracket went from 35% to 39.6%
Top Income Payroll Tax went from 37.4% to 52.2%
Capital Gains Tax went from 15% to 28%
Dividend Tax went from 15% to 39.6%
Estate Tax went from 0% to 55%
Remember this fact; if you have any money, the Democrats want it! All these taxes were passed with only Democrat votes. Not one Republican voted to do these taxes. Remember this come election time. And make sure your friends and neighbors know this info too!
These taxes were all passed under the affordable care act, otherwise known as Obama care.
FULL ANSWER
We started getting dozens of queries about this one about three weeks before tax filing day. Its nonsense. Some of these figures arent accurate, and none of these increases took effect on Jan. 1, 2014, or had anything to do with the Affordable Care Act. And the claim that not one Republican voted to do these is false.
Heres what really happened, and when:
...
CurtEastPoint
(18,639 posts)RussBLib
(9,006 posts)I guess lying is just easier for them.
appalachiablue
(41,127 posts)of 20+ years is working well for the wealthy as intended. Never saw this much anti-govt., anti-tax sentiment in my life. Of the many aunts and uncles we had none of them complained about taxes, the govt. or WDC even though some were fairly wealthy from work in the professions, others were regular job holders. This reminds me of seeing Cruz's minister father raging during some sermon about Obama coming for your money and him taking out and slapping his wallet for dramatic effect. Same for H.wood actor James Wood, using the Obama fear and the wallet visual.
procon
(15,805 posts)I sent him back these:
Factcheck's "False Tax Claims"
http://www.factcheck.org/2014/04/false-tax-claims/
and Snopes rated it "Mostly False"
http://www.snopes.com/politics/taxes/whathappened.asp
Haven't got a reply from him yet, but the day is young!
Thav
(946 posts)so you KNOW it's true!
66 dmhlt
(1,941 posts)At least an Accounts website calls it "CRAPOLA":
http://www.accountantforums.com/fact-checking-political-ad-regarding-taxes-t148446.html
And Jacksonville paper says it's "NONSENSE"
http://jacksonville.com/reason/fact-check/2014-04-26/story/fact-check-what-about-all-these-taxes-effect-thanks-obamacare
SheilaT
(23,156 posts)an estate, regardless of the size, was exempt from any federal taxation, and that was 2010. In 2011 federal estate taxes resumed. And the current estate exemption is $5.35million, and the top rate is only 40%.
According to Wikipedia, the Medicare tax rate has been 2.9% ever since 1986. There was never a time when it was 2.35%.
I'm not even going to bother to check any of the others, because they are doubtless wrong, also.
These people just make up stuff.
On edit: Thank you procon. I did a fast Snopes check and somehow didn't find their debunking.
unblock
(52,196 posts)most of these rate increase were part of shrub's *temporary* tax rate cuts.
a whole lot of republicans voted for that as part of the illusion that the cuts weren't ridiculously irresponsible.
Agnosticsherbet
(11,619 posts)somehow Democrats passedbills without aRepublican vote.
LIAR!
gregcrawford
(2,382 posts)... If I remember my high school civics class - it WAS 50 years ago - any and all legislation concerning tax revenues MUST originate in the House of Representatives. The last time I looked, it was still dominated by rabid, frothing-at-the-mouth pathological liars, also known as Republicans. Yep. Looked again. They're still there.
There really ought to be a mandatory psychological test for anyone wishing to run for office. Sociopaths need not apply. But then, the hallowed halls of Congress would be AWFULLY quiet (SFX: Crickets chirping)
MFrohike
(1,980 posts)Who confuses payroll taxes with income taxes? Does this guy never bother to read his pay stub?
AJH032
(1,124 posts)For example, the Capital Gains tax did not go from 15% to 28%. 28% is the "collectibles" gains rate and AMT rate, and has not changed. The long-term capital gain rate increased in 2013 from 15% to 20%. Additionally, there is a 3.8% net investment income surtax applied. The "dividend" tax did not go from 15% to 39.6% - it is the qualified dividend rate that increased from 15% to 20% and the non-qualified dividend rate that increased from 35% to 39.6% (non-qualified dividends are taxed at ordinary rates). Also, these changes occurred on 1/1/2013. There are no rate changes going into 2015. Furthermore, these are the rates applicable to the highest brackets of income. Your republican friend's post is incorrect and very misleading.
You want to muddy the debate that facts?!
In all seriousness, I plan to tag your reply and use it in the future - thanks!
AJH032
(1,124 posts)i just hate seeing lies about tax law spread like that...