1. The top income rate would be raised to 39.6 percent vs. 35 percent today.Given that his own party would not pass most of this stuff last year, it is impossible to believe they will pass it in an election year.
2. Under the “Buffett rule,” no household making over $1 million annually would pay less than 30 percent of their income in taxes.
3. Between now the end of a second Obama term, Obama proposes $707 billion in “net deficit reduction proposals.” Of that amount, only 16 percent is spending cuts.
4. The majority of small business profits would be taxed at 39.6 percent vs. 35 percent today.
Wednesday, February 15, 2012
New Obama Taxes
Here is the list from the American via Q&O: