Tax Bill Passes Pretty Much Intact-Goes to President

[haha]

Tax Bill Creates Many Winners, a Few Losers - WSJ.com

And the solons seem to have remembered where the butter for their bread comes from:

"The bill is notable for a couple of things it leaves out. For example, among the big winners are private-equity and hedge-fund executives who prevailed in their battle against "carried interest" provisions that would have taxed their earnings at higher ordinary-income rates rather than as capital gains. Small-business owners, by contrast, lost their push for "1099 relief" that would have eased the requirement to issue Internal Revenue Service forms to vendors receiving $600 or more in a year."

Ha

[travelover]

I'm so proud of our elected officials.This is really gonna help reduce the deficit, finally and once and for all.

[DangerMouse]

I'm thrilled to see they have included the AMT patch for another 2 years as that should see us thru the years when we will be hit by that tax. If they didn't do the patch we would have paid an additional $6k in tax so at least now we can look forward to a refund of some kind.

[Westernskies]

Quote:

Originally Posted by travelover I'm so proud of our elected officials.This is really gonna help reduce the deficit, finally and once and for all.

[Htown Harry]

I'm catching up on this in bits in pieces. Some parts I like, both personally and as a matter of policy:

Tax Passage Gives U.S. Wealthy Interest-Free Loans for Roth IRA Transfers - Bloomberg

Some parts, like the hedge fund giveaway above, get me steamed. This one for example:

Estate Measure Creates Window to Give Children Up To $10 Million Tax-Free - Bloomberg