Fiscal cliff deal = most progressive tax code since 1980 = propaganda.

[HiPointDem]

15. your link doesn't say what you're claiming.

The Act preserves the 25%, 28%, 33% and 35% brackets, which were set to rise at the beginning of 2013, and adds a new 39.6% bracket applicable to taxable income exceeding (i) $450,000 for married individuals filing jointly or (ii) $400,000 for individual filers.

The income thresholds for each bracket will now be adjusted for inflation.

Note that the Patient Protection and Affordable Care Act imposes additional Medicare taxes, also effective on January 1, 2013, of (i) 3.8% upon certain investment income and (ii) 0.9% on certain employee wages and self-employment income, each of which were previously subject to a 2.9% tax, including the employer portion of the Medicare tax on employee wages.

Generally, the additional Medicare tax on investment income applies to the extent that modified adjusted gross income exceeds $250,000 for married individuals filing jointly and $200,000 for individual filers, and the additional Medicare tax on wages and selfemployment income applies above a threshold of compensation income of $250,000 for joint filers and $200,000 for individual filers.

http://www.jdsupra.com/legalnews/the-american-taxpayer-relief-act-of-2012-14974/


Here's what you made of it:

Short-term 43.4 percent. Long-term 23.8 percent.

But it doesn't say that. It says a 3.8% tax on "certain investment income" over the cap.

It's a surcharge on total qualified investment income over the cap, not a tax on short-term or long-term cap gains.

Top rates on short & long-term cap gains = 39.6% & 20%. As stated in your link.