As a brief reminder.....

[Big Muddy]

As a brief reminder for those who forgot or for many that didn't know

Here is what happened, quietly, on January 1, 2016:


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%

Dividend tax went from 15% to 39.6%

Estate tax went from 0% to 55%

A 3.5% Real Estate transaction tax was added.

Remember these facts:
These taxes were all passed solely with Democrat votes.

Not a single Republican voted for these new taxes.

These taxes were all passed in the Affordable Care Act, aka Obamacare.

[Chicken Dinner]

Be careful what you read in the Internet...

[Captain]

Yea, estate tax don't kick in until the total estate exceeds 5 million (I think) and then I don't think it's 55%? Not sure where that comes from?

[Big Muddy]

Thought I would just disturb a little sheeit....so, what is erroneous about it???

[Buckrub]

So, what is erroneous about it???

Hank can answer better. Some of the increase numbers are incorrect, or apply only to really high income folks. Also, the ones that are true didn't just go into effect, they've been in effect for several years, 2012 I think. I googled "2016 Tax Increase Hoax" and got a ton of hits. Chick Din will have to explain the details.

I hate taxes.

[Buckrub]

Here's the excerpt just for the estate tax claim.............

In 2001, estates worth more than $675,000 were taxed at the top rate of 55%. By 2013, however, the top estate tax rate had dropped to 40%, and only estates worth more than $5.25 million were taxed. Today, 40% remains the top estate tax rate, and that only applies to estates worth more than $5.450 million, according to the Tax Foundation.

[Big Muddy]

No need to waste time explaining....I'm sheeit distubing, while getting my gear ready for a rabbit hunt, in the morning. ;)

[Buckrub]

Crap.

I'm glad I'm not a fish.

[Captain]

I got a big rabbit hunt in the morning too! This will be my 3rd for the year.
We have been smoking them this year. That drought we had must have been good for raising babies last year.

[Big Muddy]

My first hunt of the year, Cap....too busy chasing deer and squirrels....I hope we can kill just half of what I've been seeing on the roadsides at night....like you said, maybe this is something good, as a result of the drought.

My dog-buddy has some new beagles added to his pack....listening to a big pack of beagles on a hot rabbit track is better than sex....well, almost. ;)

[Big Muddy]

Oh yeah, btw, I "heard" Chelsea is running as an Independent, if Hillary loses to Bernie. :biggrin

[Captain]

Good luck to y'all this morning. Knock 'em out!