boedicca
Uppity Water Nymph from the Land of Funk
- Feb 12, 2007
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Well, now we know.
Obama is going to fund his Jobs Plan by taxing those Mythical Billionaire Jet Owners who make more than $200K per year.
Oh...and he is also going to get rid of oil companies' ability to use the same tax deductions as other manufacturers.
"In order to invest in jobs and growth, we're going to have to pay for it," Lew told reporters as Obama prepared to submit his jobs program to Congress on Monday.
Lew said the "tax provisions" that Obama was proposing included:
- A limit on itemized deductions and certain exemptions on individuals who earn over $200,000 and families who earn over $250,000, which would raise roughly $400 billion over 10 years.
- A proposal to treat carried interest earned by investment fund managers as ordinary income rather than taxing it at capital gains rates, which would raise $18 billion.
- Eliminating certain oil and gas industry tax breaks that would raise $40 billion.
- A change in corporate jet depreciation rules that would raise $3 billion. ...
News Headlines
Obama is going to fund his Jobs Plan by taxing those Mythical Billionaire Jet Owners who make more than $200K per year.
Oh...and he is also going to get rid of oil companies' ability to use the same tax deductions as other manufacturers.
"In order to invest in jobs and growth, we're going to have to pay for it," Lew told reporters as Obama prepared to submit his jobs program to Congress on Monday.
Lew said the "tax provisions" that Obama was proposing included:
- A limit on itemized deductions and certain exemptions on individuals who earn over $200,000 and families who earn over $250,000, which would raise roughly $400 billion over 10 years.
- A proposal to treat carried interest earned by investment fund managers as ordinary income rather than taxing it at capital gains rates, which would raise $18 billion.
- Eliminating certain oil and gas industry tax breaks that would raise $40 billion.
- A change in corporate jet depreciation rules that would raise $3 billion. ...
News Headlines