Here is what quietly happened on Jan. 1, 2015: Medicare tax went from 1.45 percent to 2.35 percent. Top income bracket went from 35 percent to 39.6 percent. Top income payroll tax went from 37.4 percent to 39.6 percent. Capital gains tax went from 15 percent to 28 percent. Dividend tax went from 15 percent to 39.6 percent. Estate tax went from zero percent to 55 percent. A 3.5 percent real estate transaction tax was added.
These taxes were all passed solely with Democrat votes, not a single Republican voted for these new taxes. (Sounds like Illinois doesn’t it?) These taxes were all passed in the Affordable Care Act, aka Obamacare. Remember this when all you liberal Democrats go to the polls.
Charles Robinson, Collinsville