http://slog.thestranger.com/slog/archives/2012/12/31/president-obama-fiscal-cliff-deal-in-sight Comments On: President Obama: Fiscal Cliff Deal "In Sight" by Goldy en-us Copyright 2013 The Stranger. All rights reserved. This RSS file is offered to individuals, The Stranger readers, and non-commercial organizations only. Any commercial websites wishing to use this RSS file, please contact The Stranger. webmaster@thestranger.com (The Stranger Webmaster) Mon, 20 May 2013 00:00:01 -0700 Mon, 20 May 2013 00:45:00 -0700 Foundation http://blogs.law.harvard.edu/tech/rss
Tophoos, you may not be rich but at $50K you're not "lower income".
Posted by sarah70]]> Tue, 01 Jan 2013 00:24:57 -0800 The Stranger
Here's a free one: If you're young, you should max out your 401(k) or 403(b) and contribute to a Roth IRA or IRA. You can burn the IRA for educational expenses, and rollover old 401(k) or 403(b) into a Rollover IRA and then use it for educational expenses. Live in an area where people make less than you do and own not lease cars (exception: electric cars).
Posted by Will in Seattle]]> Mon, 31 Dec 2012 16:46:25 -0800 The Stranger
So, this is the way you manipulate people...you make them think that they've ended up with a "tax cut" when in fact you've simply left taxes as is.

Lost in this debate is any other opinion or nuance. For example, why isn't Barack Obama cutting taxes for people making less than $250,000?

I propose that the first 250K for everyone be completely exempt from taxation, along with the first $1 million in assets. Anything beyond that is open season.

Posted by Supreme Ruler Of The Universe]]> Mon, 31 Dec 2012 16:23:48 -0800 The Stranger
Can someone please take his financial advice then post about it? I'll buy you a beer. I'm good for it. Promise.
Posted by six shooter]]> Mon, 31 Dec 2012 15:41:43 -0800 The Stranger Posted by TLjr]]> Mon, 31 Dec 2012 14:13:27 -0800 The Stranger
That extra 3.8% on Cap gains tophoos mentioned was a part of the Affordable Care Act and is only assessed on capital gains in excess of half a million dollars ($500,000) for those people with an adjusted gross income higher than $250,000/yr.

And, as @22 said, we're over the cliff now anywho:
C-SPAN: No Vote in House Today

Posted by Timrrr]]> Mon, 31 Dec 2012 14:00:52 -0800 The Stranger Posted by Will in Seattle]]> Mon, 31 Dec 2012 13:59:45 -0800 The Stranger
That is, if you're a Capitalist and not a neo-Komrade like Boehner is.
Posted by Will in Seattle]]> Mon, 31 Dec 2012 13:59:08 -0800 The Stranger Posted by Max Solomon]]> Mon, 31 Dec 2012 13:52:08 -0800 The Stranger
People making HIGHER than 400k will be taxed at 39.6%. (PERIOD) Next statement: Capital gains and dividends will be taxed at 20% witht he same income thresholds (applies to anyone making less than that 400k, and if you make more than 400k, you will be taxed at 23.8%)
Posted by tophoos]]> Mon, 31 Dec 2012 13:50:43 -0800 The Stranger
From Ezra Klein: "Here are the details, as multiple sources close to the talks have described them to me: The top tax rate rises to 39.6 percent for individuals making more than $400,000 and families making more than $450,000. Capital gains and dividends will be taxed at 20 percent with the same income thresholds. ..."
Posted by mayberrymachiavelli]]> Mon, 31 Dec 2012 13:28:48 -0800 The Stranger Obama Readies Gift for GOP
Anyone looking at these negotiations, especially given Obama’s previous behavior, can’t help but reach one main conclusion: whenever the president says that there’s an issue on which he absolutely, positively won’t give ground, you can count on him, you know, giving way — and soon, too. The idea that you should only make promises and threats you intend to make good on doesn’t seem to be one that this particular president can grasp.
http://www.commondreams.org/headline/201…
Posted by anon1256]]> Mon, 31 Dec 2012 13:26:50 -0800 The Stranger Posted by Max Solomon]]> Mon, 31 Dec 2012 13:23:39 -0800 The Stranger Posted by tophoos]]> Mon, 31 Dec 2012 13:17:30 -0800 The Stranger Posted by Matt the Engineer]]> Mon, 31 Dec 2012 12:43:03 -0800 The Stranger
Why do you have them in a taxable account anyway? Set up a Roth IRA with a decent (e.g. TD or some canadian regulated firm) stock brokerage account and "deposit" a portion in each year. Seriously, hire a good lawyer and good accountant if you have substantial wealth.
Posted by Will in Seattle]]> Mon, 31 Dec 2012 12:33:37 -0800 The Stranger Posted by Spindles]]> Mon, 31 Dec 2012 12:30:16 -0800 The Stranger Posted by tophoos]]> Mon, 31 Dec 2012 12:27:34 -0800 The Stranger Posted by Will in Seattle]]> Mon, 31 Dec 2012 12:09:05 -0800 The Stranger
Way out in the water
See it swimmin'...
Posted by mayberrymachiavelli]]> Mon, 31 Dec 2012 12:08:32 -0800 The Stranger
Also, note that the normal capital gains tax rate is 40 percent, it has been kept artificially low for the last decade.

@6 talk about moronic. With earnings in the 22 percent range (at least that's what I get, if you count dividends and cap gains), stocks are way better than bonds (which in our state give you NO TAX GAIN since a person pays no state income tax) and much much better than current 0.25 to 0.75 percent interest on deposits. Stop pretending you know what you're doing and hire a real accountant and real lawyer, if you actually (doubt it) are rich.
Posted by Will in Seattle]]> Mon, 31 Dec 2012 12:08:05 -0800 The Stranger Posted by Tracy]]> Mon, 31 Dec 2012 12:04:41 -0800 The Stranger Posted by Ken Mehlman]]> Mon, 31 Dec 2012 12:04:02 -0800 The Stranger
Wow, if I had to pay that extra $1500 not only would it mean one week less of hotel type vacation -- just four weeks, not five, usually in Oahu in February -- of course I would feel so unoved I would immediately fire my employees. This is how we job creators think, we'd rather not have employees, and have no profit, than have to pay what we paid under Clinton!


Posted by the rich suffer little]]> Mon, 31 Dec 2012 12:00:41 -0800 The Stranger
I'm debating wether or not to drop all my stocks and take my gains with 15% rate.
Posted by tophoos]]> Mon, 31 Dec 2012 11:58:41 -0800 The Stranger