I recently appeared on WLTX to discuss the impact of the elections on your investments and tax bill. Here is a comparison of the tax proposals and a copy of the clip.
| Obama | Romney | |
| Ordinary Income Rates | Increase rates for those making more than $200K/Individual and $250K joint.Proposed Tax Rates10%15% 25% 28% 36% 39.6% | Extend all tax cuts and cut rates overall by 20%. Highest tax bracket would be 28%.Proposed Tax Rates8%12% 20% 22.4% 26.4% 28% |
| Capital Gains Rate | 20% capital gain for high earners | 15% capital gains rate for high earners, 0% for everyone else |
| Dividend Tax Rate | Ordinary income rates for those making more than $200K/Individual and $250K/Joint. | 15% for people making over $200,000; 0% for everyone else. |
| AMT | Buffett rule- requires minimum 30% tax rate for those making $1M or more | Repeal AMT |
