Friday, May 10, 2013 10:02 AM
The Obama budget (long overdue) has tax changes including individual, corporate, estate and excise taxes. Those making over $1 million would pay more. It would cost them almost $83,000 on average.
Those making $50,000--$75,000 would pay an average $ 60 more.
Between $100,000-$200,000 about $150 on average.
For highest incomes, limited the value of itemized items to 28%, limit the benefit of large tax-favored retirement accounts, impose a Fair Share minimum tax at 30% of adjusted gross income
over $1 million, raise taxes on estates, gifts and certain family trusts.
It would raise about $1 trillion over ten years. Most of new revenue will come from those making $200,000 or more.
Why not retire Bush tax cuts for the rich and the Obama payroll tax cut for all workers?
Why not a much higher minimum wage to increase revenue?
Why not cut Pentagon and Medicare the two big spenders?
Oh! I forgot. David Koch Tea Party House members want only tax cuts and spending cuts all across every agency.
Pass a law that Federal Employees cannot accept anything with a monetary value.