Which taxpayers will suffer the most from Senator Obama's Tax Plan?

TaxGuru · #1 (**permalink**) 09-23-2008, 10:02 AM

Senator Obama wants the so called "High Income Earners" to pay more in tax. Senator Obama is proposing that Joint filing taxpayers whose adjusted gross income exceeds $250,000 and Single filers with adjusted gross income exceeding $200,000 should have the top tax rate on dividends and long term gains increased to 20%.

Senator Obama wants to impose the highest marginal tax rate of 39.6% to taxpayers whose adjusted gross income exceeds $373,100. This represents an increase of 4.6% from the current tax rate of 35%.

disa · #2 (**permalink**) 09-24-2008, 09:39 AM

I heard the Democrat experts say only the top 5% of the taxpayers would suffer an increase in their taxes!

Thats seems fine with me!