milehigh-
Quote:
Families making more than $250,000 will pay either the same or lower tax rates than they paid in the 1990s. Obama will ask the wealthiest 2% of families to give back a portion of the tax cuts they have received over the past eight years to ensure we are restoring fairness and returning to fiscal responsibility. But no family will pay higher tax rates than they would have paid in the 1990s. In fact, dividend rates would be 39 percent lower than what President Bush proposed in his 2001 tax cut.
First I think that your quote is wrong.
Second, what is a self-employed worker
Third, if I'm a corp and I am gonna pay cap gains, can I "invest" in small business then peddle the assets and escape the cap gains because I'll get an elimination of cap gains for investing in small business.
Fourth, aren't health care premiums already deductible as a business expense. Am I going to get another 50% tax credit. Sounds like a helluva good investment to me.
Fifth, as a family under 250 K are my taxes going to go back to 90's levels? If they are I'd rather have the distinguished gentleman from AZ.
25k single married married file sep head of house
1995 3972 3754 4472 3754
2007 3363 2971 3363 3194
99k single married married file sep head of house
1995 25966 22800 28110 24213
2007 21838 17604 22278 19931
If you made 256K in 1995 as a single you'd start at 183280 in tax (thats over 1/2)
If you made 256K in 07 as a single it appears you'd pay 72000 +/-.
I'm not a CPA and I imagine that you could message the numbers but I did both examples the same to see for myself what I'd pay in a "straight line" manner.
Not trying to be a jerk, but I'd like to see more of an explanation than obama.com.