The big surprise is estate tax exemption. Basically $5million will be exempted per person ($10 million for couples). BUT, not only that… It will be indexed with inflation. Lol… That is signficant…
Also, looks like the higher tax rates will hit for $400k for individuals, $450k for married couples (so one again, I guess your spouse is expected to stay at home after they get married.) No big deal.
The big question will be that it seems like itemized deductions will be capped. What and when is still unknown..
Oh, and they’ve decided to postpone the spending cuts for two months, half will be paid for defense cuts and half will be paid by the increased taxes (you know the money they haven’t collected yet but decided to spend anyway… Kinda like how most americans do it… Buy now, pay later… lol….)
Oh and medicare care payments for doctors is safe…
Yeah, kicking the can down the road is bad. But if there’s anything. The U.S. has proved it has mastered the art of kick the can down the road….
Time to buy more hard core assets, with borrowed/inflated money of course…
Happy New Year Everyone!!!! Spend like it’s 1999!!
