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-Signs, Portents, and the Weather-
IRS issues more rules. Lots of them.
2012-12-04
[Reuters] The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law.

The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income.

The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI.

The tax applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.
Posted by:Fred

#6  The question is... where is all the capital going to go?
Posted by: CrazyFool   2012-12-04 22:19  

#5  for those who might not catch the tone, that was supposed to be sarcasm in the first line of my post. This is going to cause further capital flight. Not to mention the effects of US inflation once they have to inflate away all the debt Obama and Reid and Pelosi locked us into
Posted by: OldSpook   2012-12-04 22:17  

#4  That will *really* encourage capital investment and growth!

This helath care reform law seems to have a boatload of taxes cooked into it.
Posted by: OldSpook   2012-12-04 22:15  

#3  With taxes like these, who needs the AMT?
Posted by: Raj   2012-12-04 10:00  

#2  [gains are being hit....]
Posted by: Besoeker   2012-12-04 01:47  

#1  The earnings were taxed prior to their investment in stocks and bonds. The earnings from stocks and bonds was taxed once again as capital gains. These gains is now being hit a third time with a 3.8 percent surtax. When we go "off the cliff" (and we surely will) the capital gains tax portion will be doubled as well.

The Champ is devouring the host before our very eyes.
Posted by: Besoeker   2012-12-04 01:46  

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