Feb. 26 (Bloomberg) -- President Barack Obama proposed almost $1 trillion in higher taxes on the 2.6 million highest-earning Americans, Wall Street financiers, U.S.-based multinational corporations, and oil companies, to pay for permanent breaks for lower earners. The president’s 2010 budget proposal, released today, would reinstate the top two Clinton-era tax rates of 36 percent and 39.6 percent in 2011, up from the 33 percent and 35 percent that the wealthiest Americans currently pay. It would also raise taxes on capital gains and dividends to 20 percent for top earners, up from the 15 percent established by former President George W. Bush in 2003.
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