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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Poet who wrote (189131)3/7/2009 10:28:35 AM
From: ajtj99Read Replies (2) of 306849
 
I seem to recall the original move up to the 39% was implemented as part of the Clinton tax reform in his first term. That was part of a package that helped trim the deficit during the roaring 1990's.

Prior to that I believe the current rates prevailed from the George H.W. Bush and 2nd Reagan administrations.

I think there is some confusion about how the 39% rate was established. I think most believe it was there indefinitely and was reduced by Bush. I have not looked this up, but I believe in this particular instance Bush restored the rate to the pre-Clinton rate in that tax cut.

Bush did pass through the expiration of the estate tax with a sunset provision as well as the dividend tax cut. Those are on him.

I just wanted to bring some clarity to this, as there seem to be quite a few articles showing hysteria about the 39% tax rate.
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