And so it goes - 159 pages of new IRS rulings

Loopholes for Obama's cronies. From Reuters:

IRS aims to clarify investment income tax under healthcare law
The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law.

The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income.

The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI.

The tax applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.

The 159 pages of rules spell out when the tax applies to trusts and annuities, as well as to individual securities traders.

Released late on Friday, the new regulations include a 0.9 percent healthcare tax on wages for high-income individuals.

The current regime always releases a dump of stuff on Friday. This is the start of the weekend news cycle and by Monday, everything is forgotten by the mainstream media. UPDATE: Here is what is happening in England. They jacked their highest tax rate up to 50% and for some strange reason, collected revenues are waaaay down. From the UK Telegraph -- note: 50p means 50 per cent, not 50 pence:

50p tax rate 'failing to boost revenues�
The Treasury received �10.35 billion in income tax payments from those paying by self-assessment last month, a drop of �509 million compared with January 2011. Most other taxes produced higher revenues over the same period.

Senior sources said that the first official figures indicated that there had been �manoeuvring� by well-off Britons to avoid the new higher rate. The figures will add to pressure on the Coalition to drop the levy amid fears it is forcing entrepreneurs to relocate abroad.

The self-assessment returns from January, when most income tax is paid by the better-off, have been eagerly awaited by the Treasury and government ministers as they provide the first evidence of the success, or failure, of the 50p rate. It is the first year following the introduction of the 50p rate which had been expected to boost tax revenues from self-assessment by more than �1billion.

Some more which shows exactly what is wrong with the liberal mindset:

George Osborne, the Chancellor, is expected to receive a definitive analysis from the revenue on the 50p rate before next month�s Budget. The Liberal Democrats have insisted that it must stay because it is important to demonstrate that the rich are paying their fair share.

Emphasis mine -- fscking mastermind. Nanny. Statist. Big government leach. Willfully stupid and never heard of the Laffer Curve -- Google it.