- Image via Wikipedia
- increase the top tax rates to 36% and 39.6%
- limit itemized deductions on people earning $200,000 ($250,000 for couples) to 28% of income
- increase capital gains tax from 15% to 20% for those making over $200,000
- increase taxes on oil and gas companies, and companies foreign profits
“The real bottom line: It’s going to be harder for employers to afford you, for investors to gamble on new businesses and for anyone to stay in business in the first place. The only winners in this budget are people who don’t pay taxes in the first place.”
That’s how it is in plain english. Full story here.
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