Finance Geek

If you shake out the Obama budget in terms of bold headlines, it’s really a class-warfare, tax-the-rich budget. Layer upon layer of tax hikes are piled on successful investors, small-business owners, and corporations.
The capital-gains tax goes from 15 percent to 24 percent (including Obamacare). The dividends tax goes from 15 percent to nearly 40 percent, and that’s not including the double tax on corporate profits embodied in dividends and capital gains. The Bush tax cuts for top earners are repealed. There’s the 30 percent Buffett-rule minimum tax on millionaires. The…

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This entry was posted on Tuesday, February 14th, 2012 at 12:39 pm and is filed under RealClearMarkets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.