Here is a list of some of the coming tax increases (disguised as “hope and change”):
–Raise the top two income tax rates for individuals, from 33 percent and 35 percent, to 36 percent and 39.6 percent, respectively. Unless Congress intervenes, those rates will rise next Jan. 1 when Bush’s tax cuts expire. That government would reap $365 billion over the next decade.
–Limit the itemized tax deductions high earners can claim for charitable donations, mortgage interest and state and local taxes, raising about $210 billion for the next decade.
–Increase the top capital gains tax rate from 15 percent to 20 percent for families making more than $250,000 a year and individuals making more than $200,000. The proposal would raise about $105 billion.
–Impose a “financial crisis responsibility fee” on large financial institutions, raising $90 billion over the next decade.
–Restrict the ability of international companies to defer taxes on profits made overseas, raising about $26 billion over the next decade.
–Impose a total of about $39 billion in tax increases on oil, gas and coal companies over the next decade.
–Change the way profits made by investment fund managers are taxed, raising an additional $24 billion over the next decade.
Whole new view of “tax and spend” democrat!