Politics
Out of context: Reply #5668
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- ukit0
http://www.nytimes.com/2009/02/2…
After a string of costly bailout and stimulus measures, President Obama will set a goal this week of cutting the annual deficit at least in half by the end of his term, administration officials said. The reduction would come in large part through Iraq troop withdrawals and higher taxes on the wealthy.
The president will propose to tax the investment income of hedge fund and private equity partners at ordinary income tax rates, which are now as high as 35 percent and could return to 39.6 percent under Mr. Obama’s plans, instead of at the capital gains rate, which is 15 percent at most.
Mr. Obama will also call for letting the Bush tax cuts on income, dividends and capital gains lapse after 2010 for individuals who make more than $250,000 a year.
- Awaits Republican talking points of "class war" to begin in earnestTheBIueOne