Political Punch: Obama's Budget: Almost $1 Trillion in New Taxes Over Next 10 yrs, Starting 2011: "Obama's Budget: Almost $1 Trillion in New Taxes Over Next 10 yrs, Starting 2011
February 26, 2009 12:00 PM
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"
For anyone making under $250,000 this is where he will take money from you.
Anyone who has a 401K plan is going to be taxed as well ...... enjoy the change and hope people.
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