Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact
Markets

Symbol Name
Click for Symbol Help




Obama's opening bid: $1.6 trillion in taxes

CNNMoney - Nov 14, 2012

To the extent that anything is clear about the fiscal cliff negotiations that begin this week, it's this: President Obama will push to increase taxes on the rich.

And his starting position, according to White House spokesman Jay Carney, will be for a broad $4 trillion deficit-reduction plan that includes $1.6 trillion in new revenue.

The basis for the $1.6 trillion is Obama's 2013 budget proposal from last February.

That new revenue would come primarily -- although not exclusively -- from households making more than $200,000 ($250,000 if married).

Bush tax cut expiration: As he often stresses, Obama wants to let the Bush tax cuts that apply to income over $200,000 expire. If that happened, the top two tax rates -- currently 33% and 35% -- would increase next year to 36% and 39.6%.

In addition, investment tax rates on the rich would increase to 20% for capital gains and to one's top income tax rate for dividends. Both are currently taxed at 15%.

Read Full Article from CNNMoney

- Posted: 2012-11-14 13:38:39


 More Stock Investor Place Top Stories  
Anglo platinum arm sheds 14,000 jobs, risking unrest
Apple falls below $500
US retail sales rose 0.5 percent in December, led by autos, furniture and clothing sales
Recovery in U.S. Saving 8 Million Underwater Homeowners
Facebook shares rise in buildup to mystery event, earnings

 Stock Investor Place Top Stories Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008















Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2019 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise