NEW YORK (CNNMoney.com) -- Most voters are aware that Barack Obama wants to raise taxes on high-income taxpayers if he's elected president in November.
But what does the Democratic candidate mean by high-income? Who'd be affected and how? While the Obama campaign must still settle on more details about their plans, outlines are starting to emerge.
To start, Obama frequently cites $250,000 as the line between those who would be subject to higher taxes and those who wouldn't.
Indeed, under Obama's tax plan, married couples with at least $250,000 in gross income are likely to see their taxes go up if Obama is elected president.
But what about single filers? The line for them would likely be about $200,000, according to an Obama adviser.
Those groups could end up paying anywhere from several thousand dollars to tens of thousands of dollars more to Uncle Sam than they do now, according to estimates from the Tax Policy Center.<
Answer by samurai_chica at 10:42 AM on Sep. 21, 2010
Answer by Scuba at 10:55 AM on Sep. 21, 2010
Answer by jessa1091 at 12:54 PM on Sep. 21, 2010
Answer by LeanneC at 10:59 AM on Sep. 21, 2010
Answer by gammie at 11:56 AM on Sep. 21, 2010
I agree 250 is not rich- it's closer to zero than to multi-millions and billions- the people who are able to dodge taxes with the government stamp of approval. The Congress legislates in their own favor-the loopholes are for them, the super rich. They have set it up so WE (the underlings) fight amongst ourselves and they get off Scot-free.
We are so distracted with our bickering,they think we do not notice THEM robbing US blind. We ALL need to wake up and rally against THEM and not each OTHER!
Answer by Sisteract at 12:05 PM on Sep. 21, 2010
Answer by pixie_trix at 12:39 PM on Sep. 21, 2010
Answer by pixie_trix at 12:43 PM on Sep. 21, 2010
Answer by Sisteract at 1:20 PM on Sep. 21, 2010
Answer by itsmesteph11 at 11:11 AM on Sep. 21, 2010