Friday, July 2, 2010

The Great 2011 Tax Hike

Marginal Income Tax Rate will rise -

The 10% bracket rises to an expanded 15%
The 25% bracket rises to 28%
The 28% bracket rises to 31%
The 33% bracket rises to 36%
The 35% bracket rises to 39.6%

The “Marriage Penalty” will return.

The “Child Tax Credit” will be cut in half.

The “Death Tax” will reset to up to 55% and the exclusion will return to $1,000,000 per person.

The Capital Gains tax rate will rise from 15% to 20% and the Dividends will be taxed at your Ordinary Income rate, instead of 15%. Both of these will rise another 3.8% in 2013.

The number of families who will fall under the AMT (Alternate Minimum Tax) calculation will rise from 4 million to 28 million next year!

There are many more taxes that are going up and deductions that are going down.

I'm am certain this is having an impact on stocks.

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