I was looking for the information on the plan for taxes and I came across a couple of things.
-Eliminate capital gains taxes for small businesses, cut corporate taxes for firms that invest and create jobs in the United States, and provide tax credits to reduce the cost of healthcare and to reward investments in innovation.
-Middle class families will see their taxes cut -- and no family making less than $250,000 will see their taxes increase. The typical middle class family will receive well over $1,000 in tax relief under the Obama-Biden plan, and will pay tax rates that are 20 percent lower than they faced under President Reagan.
-Families making more than $250,000 will pay either the same or lower tax rates than they paid in the 1990s. Obama will ask the wealthiest two percent of families to give back a portion of the tax cuts they have received over the past eight years to ensure we are restoring fairness and returning to fiscal responsibility. But no family will pay higher tax rates than they would have paid in the 1990s.
http://www.whitehouse.gov/agenda/taxes/
11 years ago
3 comments:
I'm really glad you posted this. It helps me see that things are changing and this seems like a positive change for many people. When I read this, I think about people working together (willingly or by force)to get out of this hole we fell into. The talks about the economic crisis really scared me but now I feel a little more at ease knowing that there is some hope for everyone. I'm sure there is light at the end of this dark tunnel.
yes - it's net, not gross income. So one needs a 250,000 profit. Tax would go up to 39% from 35% which is $7,500 for someone netting $250,001.00.
here's the plan
yes here's an analysis
Since the 1970's the gap between the poor and the rich has been increasing. I'm glad there has come some relieve for working and middle class families. :)
Post a Comment