Discover and read the best of Twitter Threads about #dadjoke
Most recents (1)
11/
Sounds good, right? But there's a catch... This change is FANTASTIC for the uber-wealthy.
For the 'merely' affluent taxpayer though? Not so much😕
Specifically, whereas Biden's proposed top rate didn't kick in until AGI exceeded $1 million, the bill would "re-align"...
Sounds good, right? But there's a catch... This change is FANTASTIC for the uber-wealthy.
For the 'merely' affluent taxpayer though? Not so much😕
Specifically, whereas Biden's proposed top rate didn't kick in until AGI exceeded $1 million, the bill would "re-align"...
12/
..the capital gains brackets with the ordinary income tax brackets (make them start at the same $ amounts).
Great for remembering where brackets begin, but...
...it means the top cap gains bracket would start at 'just' $400k for single filers and $450k for joint filers...
..the capital gains brackets with the ordinary income tax brackets (make them start at the same $ amounts).
Great for remembering where brackets begin, but...
...it means the top cap gains bracket would start at 'just' $400k for single filers and $450k for joint filers...
13/
So if you're income is $4 million and consists of a lot of capital gains, you have to be feeling pretty good right now.
But if your income is between $400k/$450k and $1 million and you have capital gains, you'd MUCH prefer the Biden plan to this bill (at least for this)
So if you're income is $4 million and consists of a lot of capital gains, you have to be feeling pretty good right now.
But if your income is between $400k/$450k and $1 million and you have capital gains, you'd MUCH prefer the Biden plan to this bill (at least for this)
