Report: Congressional Tax Deal Finalized

According to The Corner a tax deal was reached this afternoon.
Democrats get their tax hikes.

A Senior Senate Republican aides tell NRO that the tax side of the fiscal-cliff deal has been finalized. Here’s a sketch of the framework:

— Current tax rates would be permanently extended for singles making $400,000 or below, and permanently extended for couples making $450,000 or below

— For singles, capital gains and dividends of $400,000 or below would be permanently taxed at 15 percent; capital gains and dividends above $400,000 would be permanently taxed at 20 percent

— For couples, capital gains and dividends of $450,000 or below would be permanently taxed at 15 percent; capital gains and dividends above $450,000 would be taxed at 20 percent

— The Alternative Minimum Tax would be permanently patched

— Estates over $5 million would be taxed at 40 percent, and that tax rate would be permanently extended

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  • ★FALCON★

    Good Luck winning anymore elections GOP. I’m done with you.

    You have clearly no guiding principles nor values.

    Goodbye and Good Riddance.

  • Paul in N. AL

    Completely disgusting. These people in DC are morons. We need new political parties, being held hostage by these two is tiresome.

  • cavt

    Just reading this tells us how stupid our tax system is and how politicians use it to their advantage. Get rid of the whole thing and go to a fair/flat/value added tax–anything that is simple and can’t be manipulated.

    Oh–what about spending?

    And Falcon, I agree, GOP(with a few exceptions) is worthless.

  • hermie

    Except Obama has already said he plans more tax hikes.

    So ‘permanent’ means until ‘The Won’ declares its time for more tax hikes.

  • neverends

    Falcon, you are correct! The establishment republicans just rang the death knell for those people in the republican party that actually believe in any kind of fiscal responsibility. I hope that there are a few republicans left that have the cajones to speak up and ditch the establishment group completely…but I have serious doubts. I am VERY seriously debating whether or not I will change my registration soon.

  • Robert

    Don’t worry, now the Republicans are really really really going to cut spending.

    Really.

  • Pingback: Report: Congressional Tax Deal Finalized « infowarsusa()

  • Jorge S

    GOP is prepping for the debt ceiling, coming around this coming spring. That’s where they tackle spending. They have all the chips after tonight. I’m not not raising taxes but this is the best path for GOP now. Well get taxes back in order in 2016.

  • bg
  • Sam Stone

    No word on spending? $11 Billion a day is spent. Can;t we get it to $10 billion?

    40% death tax? Why not just take it all?

  • bg

    ++

    “The new Republicans are the old Democrats,
    The old Democrats are the new Progressives,
    The new Progressives are the old Communists”

    – bg

    ==

  • bg

    ++

    GWB : the last American President.. 🙁

    ==

  • Adirondack Patriot

    Oh, goody! This will prompt economic growth! More money for a failed government.

    Unemployment will be 10 percent in 2013. Government debt will continue to rise.

    The best way to raise revenue is to let the private sector create jobs.

    The best way to get people off welfare (abnd reduce government spending) is to let the private sector create jobs.

    The best way to improve investment opportunities is. . . well, you get the point.

    Obma doesn’t.

  • ★FALCON★

    My “Divorce” from the GOP has been slowly happening for 20 plus years, if not longer. Actually, I remember when it began – with the election of G.H.W. Bush.

    The party treats me like a battered spouse, as a low-life unworthy of their consideration until I file a Restraining Order. Consider yourselves served.

    Well, today, you got your freedom to act like a drunk in public, to wreck the car, to quit your job and gamble like the fool you are.

    I’m not going to be here to stick-up for you any longer.

    When the “relatives” talk behind your back, I’ll agree with them, no more defense for you.

    When your boss (formerly known as me) calls and wonders why you didn’t show up for work, I’ll tell your boss your smashed outta your gourd again and in no condition to make any decisions on anything relevant matters. And that’s what I’ll say IF I’m in a good mood. If I’m in a bad mood, well, you don’t really want to know what I’ll say.

    You kicked me around for longer than I care to remember. And today was the end.

    Further, I would like you to know – it is partly your fault that I never did achieve a 5 million (your new mega-ultra rich base line) dollar a year pay package. You placed so many restriction on the working class of this country that we often need two jobs just to pay the taxes that you claim are “fair”.

    Now, lastly GOP, tonight, I’m going to get drunk, and screw your best friend, make a video of it all and post it on Facebook and send it to all your friends. I hope I can humiliate you as you have done to me for more than 20 years.

    Fin. Just like you.

  • shadow

    Drudge No. 1 and WND No.2

    BWHAHAHAHAHAHAHHAHA

    That might be the funniest thing I’ve seen all year.

  • ★FALCON★ … HAHAHAHA you crack me up. I agree with your comment completely, until that last paragraph… watch out for those ‘best friends’ 😉 Happy New Year to you, be safe!

  • serfer62

    Its 1773 again!
    King George & his evil parliment have taken over Washington DC
    Taxation without representation
    The TEA boxes are at the wharf
    Concord & Lexington are just down the road

  • Lady Mondegreen

    Surfer62, the problem is not taxation without representation.You have representation. You just don’t like what your representatives are doing. That’s democracy.

  • FU#K OBAMA

    Will it pass the house? On to gun confiscation next..

  • Pingback: Report: Congressional Tax Deal FinalizedPolitifreak()

  • bg

    ++

    ht Oliver

    December 27, 2012

    The latest from “DHS Insider”

    [DH: Wait, you’re DHS—not some Wall Street insider.

    RB: So you think they are separate agendas? That’s funny. The
    coming collapse of the U.S. dollar is a done deal. It’s been in the
    works for years – decades, and this is one of the most important
    cataclysmic events that DHS is preparing for. I almost think that
    DHS was created for that purpose alone, to fight Americans, not
    protect them, right here in America. But that’s not the only reason.
    There’s the gun issue too.
    ]

    and this is news?? /s/

    December 31, 2012

    Potential Fiscal Cliff Deal Has Huge Taxes, Few Cuts

    [The White House and congressional negotiators agreed to contours of
    a budget deal including tax cut extensions, with the remaining sticking
    point being how to avert automatic federal spending cuts, said an official
    familiar with the talks.

    “It appears that an agreement to prevent” the fiscal cliff tax hike for
    Americans set to hit at midnight “is within sight, but it’s not done,”
    President Barack Obama said today.

    Under the proposed deal, income tax cuts would be extended for annual
    income up to $450,000, the official said, with rates rising to 39.6 percent
    on income above that. Expanded unemployment insurance would be
    continued through 2013.

    Lawmakers are seeking to avert more than $600 billion in tax increases
    and spending cuts that make up the so-called fiscal cliff. Even if a deal is
    reached and can get through both chambers of Congress, it would be
    more limited than President Barack Obama and leaders of both parties
    sought. It would set up another battle early in 2013 over the budget
    and the federal debt limit.]

    ht 100 Percent Fed Up via Breitbart

    December 31, 2012

    Obama Scuttles ‘Fiscal Cliff’ Deal?

    [I have long noted that repealing the Bush-era tax cuts doesn’t come
    anywhere close to plugging our deficit. Obama, today, agreed with that.
    He signaled that, as long as he’s President, further tax hikes will always
    be on the table. In doing so, he undermined all the work that’s been
    done in Congress this weekend.

    Obama may have just scuttled any real “fiscal cliff” deal.]

    ==

  • tennismom

    Glad we did not donate a single dime to the GOP in 2012. Facebook = better investment.

    Maybe after the SHTF, there will be be a shakeout of allegiance. Some sort of ‘Freedom Common Sense Party’ will emerge, neither Libertarian nor Repube. Or anarchy.

  • SeniorD

    Taxed
    Enough
    Already

    The Marxists and Hamiltonians performing the already tiresome play known as “Fool the populace again, and again and again” have had their say.

    American Patriots, those of us who have more than 2 working neurons in our heads, know the spending will continues, taxes will rise again later in 2013. We The People must take back our government by any means possible.

  • SeniorD

    bg,

    You’re wrong. The last AMERICAN President was Ronald Reagan. “W” talked tough but wimped out the last two years.

  • bg

    ++

    SeniorD #24 December 31, 2012 at 5:19 pm

    i’m wrong??

    that’s funny, RR was much more LIBERAL then GWB, go figure..

    OT..

    Sandy Victims Still Stranded As ‘Red Tape’ Hinders Help From FEMA

    ==

  • bg

    ++

    re: #25 December 31, 2012 at 6:10 pm bg

    re: SeniorD #24 December 31, 2012 at 5:19 pm

    RR v GWB, and a bit more..

    ==

  • aposematic

    So, well off married couples should immediately file for divorce: increased tax level goes from $450k to $800K.

  • shadow

    Happy New Year, folks. If you are going to be out and about tonight, please drive safely. See you all in 2013.

  • Blacque Jacques Shellacque

    That might be the funniest thing I’ve seen all year.

    Can’t speak for WND, but Drudge is basically a news aggregator and doesn’t offer up his own commentary other than maybe wording on a link. The actual hilarity is that you seem to be oblivious to that fact.

  • Blacque Jacques Shellacque

    A Senior Senate Republican aides tell NRO that the tax side of the fiscal-cliff deal has been finalized.

    Watch closely folks: For what the Republicans gave up, they will get nothing of substance. Whatever “cuts” that Democrats will agree to as an insulting minimum courtesy is likely to produce only a small decrease in the growth of spending, and not actually cut spending itself.

    And don’t be surprised when this happens if the Republican “leadership” tries to paint the final agreement as some kind of triumph.

  • YourMaster

    >.> don’t pass that bill
    just serve 0bama a taste of his own medicine
    put a bill forth of the fiscal cliff with total repeal of 0bamacare
    and permanent bush tax cuts…

    …all the GOP needs to do is, pass that through the house….
    and the Democrats have no choice but to block or pass

    blocking takes us over the fiscal cliff and everybody’s taxes will go up
    ….and Democrats will get all the blame.

    passing it means there dear leader ends up with the blame if he signs the permanent bush tax cuts into law

    …that’s all the GOP has to do.

  • Sandy

    Republicans still want to govern like its 1999 — you know the old — my learned colleague from Podunk BS. Republicans better get the message or the next election ballots will only include Dem candidates and no one will notice that there is now only political party.

  • Sandy

    Has the deal been finalized with Congress or is this a deal between the White House and Senate?

  • bg

    ++

    Republicans will never solve problems as
    long as they are apart of the problems..

    ==

  • “Nevertheless, in most advanced countries, the following will be pretty generally applicable.
    2. A heavy progressive or graduated income tax.
    3. Abolition of all rights of inheritance. ”

    The Communist Manifesto