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.
You are making it sound like I wanted to do nothing. OF COURSE retaining the present tax rates was necessary -- it goes without saying. Higher taxes are bad for EVERYONE. You and Obama need to realize that. You can't piss in just one end of a pool -- everyone experiences it. Most importantly unchecked federal spending is killing this country -- and that will continue. So wipe the smile off your face and realize that this nation took a royal screwing on this deal -- needlessly.
Or your customers make more than 450KUSD/year. I've shut down the business as of today.
/johnny