The top individual rates are going up. Will they go all the way to the 39.6% rate? That depends on what deal the Republican House can cut; the president wants the lower-bracket Bush-era cuts to remain in place, but not the top rate cuts. I suspect the president won’t blink like he has before, and at best the Republicans will save face by keeping the rates from going all the way off. They may not even get that. I really hope I’m wrong.
Get the popcorn ready, this’ll be interesting.