2016 Tax Note
On January 1, 2016, these new taxes became law.
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. For real estate sales above $ 250,000
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.
On January 1, 2016, these new taxes became law.
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. For real estate sales above $ 250,000
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.
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