Hi folks. Remember this WHEN YOU DO YOUR TAXES IN APRIL ! ! ! ! ! !
In case you didn’t notice, this is what happened on January 1, 2014 :
Top Medicare tax went from 1.45% to 2.35%, an increase of 62%.
Top Income tax bracket went from 35% to 39.6%, an increase of 13%.
Top Income payroll tax went from 37.4% to 52.2%, an increase of 52%.
Capital Gains tax went from 15% to 28% an increase of 87%.
Dividends tax went from 15% to 39.6%, an increase of 164%.
Estate tax went from 0% to 55%, an increase of infinity . . .
Remember this fact: These taxes were all passed with only Democrat votes, NO Republicans voted for these taxes.
These taxes were all passed under the Affordable Care Act, aka OBAMACARE.
William C. Heath, CFP(r)
Chairman & CEO
BARRINGTON FINANCIAL ADVISORS, INC.
A Registered Investment Advisor
(Celebrating 42 years of Professional Service)