Peter Starr
Financial Services in Wilmington, NC
The year was 2001. The top marginal federal income tax bracket was 39. 6% and the tax rate that applied to most long-term capital gains was 20% Then came the Economic Growth and Tax Relief Reconciliation Act of 2001, followed two years later by the Jobs and Growth Tax Relief Reconciliation Act of 2003. By mid-2003, the top marginal tax rate was 35% and the 20% capital gains rate had dropped to 15% But this tax relief was designed to be temporary the provisions that founded lower rates were crafted to self-expire after a period of time.