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The tax rate on his $180M at the time he cashed out was the 39.5% rate that thing would have reverted to if this bill failed. So your point is? The 5% increase
by myrandomcomment 14y ago
The tax rate on his $180M at the time he cashed out was the 39.5% rate that thing would have reverted to if this bill failed. So your point is? The 5% increase just cost me personally an additional 100K minimum on my 2013 tax bill and I am okay with that.
- jacoblyles 14y agoI'm pretty sure he was paying cap gains. You're quoting the ordinary income rate.
- deleted 14y ago[deleted]
- myrandomcomment 14y agoClinton era tax for Capital Gains was 39.5%.
- jacoblyles 14y agoNope: http://en.wikipedia.org/wiki/File:Maximum_Federal_Tax_Rate_on_Long_Term_Capital_Gains_(1972_-_2012).jpg http://en.wikipedia.org/wiki/File:Maximum_Federal_Tax_Rate_o...
- rprasad 14y agoThe chart shows that you are both right. The marginal rate was 39.5%, then dropped as part of Clinton's deal with the House Republicans in his second term.
- jacoblyles 14y agorecheck your axes readings