Barack Obamas Plan for Income Tax in 2010, 2011
Here are some of the details of President-elect Obama's tax plan and how they may affect you:
Income Tax Rates
The target is to maintain current rates in the 10-28% brackets of most Americans. For earners in higher brackets, Obama has proposed a 3-4% increase. This may be delayed because of the weak economy.
Capital Gains/Dividends
The maximum rate of 15% could be increased to 20% for investors with incomes greater than $250,000. Under current law, taxpayers in the two lowest income-tax brackets pay zero capital gains in 2008, 2009 and 2010.
Obama is considering eliminating capital gains taxes on start-ups and small businesses to encourage innovation. This could be the most positive change in the tax law for the economy and for small business owners as well.
Learn More Here: http://hubpages.com/hub/Obamas-Plan-for-Income-Tax
Income Tax Rates
The target is to maintain current rates in the 10-28% brackets of most Americans. For earners in higher brackets, Obama has proposed a 3-4% increase. This may be delayed because of the weak economy.
Capital Gains/Dividends
The maximum rate of 15% could be increased to 20% for investors with incomes greater than $250,000. Under current law, taxpayers in the two lowest income-tax brackets pay zero capital gains in 2008, 2009 and 2010.
Obama is considering eliminating capital gains taxes on start-ups and small businesses to encourage innovation. This could be the most positive change in the tax law for the economy and for small business owners as well.
Learn More Here: http://hubpages.com/hub/Obamas-Plan-for-Income-Tax
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| Categories: | obamas plan income tax |
| Added: | on Apr 21, 2010 |
| Added By: | tsmith2724 |
| Searches: | tax obama income plan rate |
