Thursday, February 26, 2009

Obama's Budget: Almost $1 Trillion in New Taxes Over Next 10 yrs, Starting 2011


President Obama's budget proposes $989 billion in new taxes over the course of the next 10 years, starting fiscal year 2011, most of which are tax increases on individuals.

1) On people making more than $250,000.

$338 billion - Bush tax cuts expire
$179 billlion - eliminate itemized deduction
$118 billion - capital gains tax hike

Total: $636 billion/10 years

CONTINUED...........

http://trenaway.blogspot.com/2009/02/obamas-budget-almost-1-trillion-in-new.html

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