Page 7 - Doc Fix News Today

And forth about this and frankly we dont know the final deal but the estate tax will have a $10 million exemption per couple. $5 million for an individual with additional inheritance taxed at 40 o percent. business tax credits for research experiment existences. the tax extenders they call through the end of 2013. stimulus tax credit. largely used by lower and middle class workersion tended as part of the stimulus package. included the child tax credit and earned income tax credit and college tu...

Taxed at 20% for individuals making at least $400,000, couples or families $450,000. also an estate tax. there was some back and forth late in the day whether there was going to change but the framework had the estate tax at $10 million exception per couple with additional inheritance at 40%. tax credits for stimulus. business tax credits and a doc fix stopping 27% reduction in payments to medicare providers using spending cuts as offsets. in addition to that, ed, you are saying the sequester wh...

The rate under former president bill clinton. estates would be taxed at 40% above $5 million for individuals, and $10 million for a married couple. unemployment benefits would be extended a year as would the medicare doc fix it would permanently fix the alternative minimum tax. a big concern for republicans is there are no new spending cuts. >> history has a way of repeating itself. somehow washington never gets the message. here we are 30 years later on the brink of another crisis on new years ...

And i think as to the presidents performance today, i think it is important not to gloat, but it is also important to remember that everyone thought this was going to be a kabuki dance up to the finish and it ended up being more of a judo flip. the president essentially got everything he wanted on tax policy, not just on rates but the credits for energy and education, the amt fix, the doc fix, and the republicans got very little if anything they wanted on the spending. a lot of democrats are mif...

Expire. but thats only part of it. theres also a series of spending cuts that will also be triggered by the fiscal cliff. $1.2 trillion in sequestration will kick in beginning january 2nd. next year alone, $109 billion will be slashed. half from the defense budget and half from nondefense spending. the so-called doc fix would also go away, reducing medicare payments to doctors by 27%. and finally, unemployment benefits will run out for more than 2 million americans who have lost their jobs. bene...

Here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition. unemployment benefit are extented for one year. same for the medicare doc fix and the social se...

Penalty. if your employer doesnt provide you with healthcare, they are going to be hit with a penalty. also, the amt tax patch, if they dont fix that, then -- alternative minimum, and that will not us. about people in the middle class who never thought they are going to get hit, they are going to find out they are well think. those are a couple things that are going to hit a number of people in this country. >> charles, let me go through it real quick and let you respond to each and every one of...

Penalty. if your employer doesnt provide you with healthcare, they are going to be hit with a penalty. also, the amt tax patch, if they dont fix that, then -- alternative minimum, and that will not us. about people in the middle class who never thought they are going to get hit, they are going to find out they are well think. those are a couple things that are going to hit a number of people in this country. >> charles, let me go through it real quick and let you respond to each and every one of...

B, this is what the million dollar thing is, after he concluded he could not get enough gop support for the proposal he made to obama over this past weekend. according to a senior administrative official. at least thats the way the press is reading this thing. boehner is doing this weird side show thing of his with a million dollar cutoff because he couldnt deliver on a trillion and a trillion over ten years which looked a reasonable proposal that might have gotten somewhere. >> well, absolutely...

It lasted 45 minutes, and aides are saying we will not get a readout, but there certainly has been a flurry of activity on the fiscal cliff front. aides to speaker boehner say in a friday phone call to the president the speaker offered to extend the bush tax cuts for those making up to a million dollars so, therefore, those above a million dollars would pay slightly higher taxes in exchange for spending cuts and entitlement reform. lets take a look at the framework of a possible fiscal cliff dea...