Financial Crisis to be ended in the US

The middle class of the United States has saved from paying more tax but rich class will have to pay extra tax amount. Former republican president George Bush had declared low tax on the personal or family annual income of $4.5 lakh. This provision has been made permanent and more than this income will have to pay tax with the rate of 39.6%. The current highest tax limit is 35%. People with more income will pay 20% capital gain tax instead of 15%.

For couples who have more than a million dollars estate property, they will pay 40% tax instead of 40%. 20 lakh people will get unemployment package for one year. The global economy of America will get relief in the New Year. This bill was approved by voting on Tuesday morning but the final stamp is still remaining in which it may get hard challenges. 98% Americans and 97% small business are protected now by nil tax burdens on the people. 89 votes were in the favor and 8 votes were against the bill.

The middle class of the United States has saved from paying more tax but rich class will have to pay extra tax amount. Former republican president George Bush had declared low tax on the personal or family annual income of $4.5 lakh. This provision has been made permanent and more than this income will have to pay tax with the rate of 39.6%. The current highest tax limit is 35%. People with more income will pay 20% capital gain tax instead of 15%.

For couples who have more than a million dollars estate property, they will pay 40% tax instead of 40%. 20 lakh people will get unemployment package for one year. The global economy of America will get relief in the New Year. This bill was approved by voting on Tuesday morning but the final stamp is still remaining in which it may get hard challenges. 98% Americans and 97% small business are protected now by nil tax burdens on the people. 89 votes were in the favor and 8 votes were against the bill.