That's all that matters then isn't it? For the record my family is getting whacked on this deal.
Deficit spending is a tax in advance. Do you recognize that?
Yes it matters greatly because every middle class person’s federal tax rate was scheduled to go up if Bush tax rates were allowed to expire.
Also any one with less than $5 million in total assets is a small business. Their death tax would have jumped to 55% over $1 Million assets. Now it is only applicable OVER $5.1 million and INDEXED to inflation.
Best of all this bill saves 34 million in middle class from paying the AMT tax in 2013. That tax is also INDEXED.
So yes when I look at the details, I think this FC bill is great for middle class.
Of course it is bad for you if you earn more than $450,000. Which may be your case.