good thing you don't own any stocks, bonds or investments. Being a welfare queen helps you.
Who'll pay all these taxes? Those deemed "rich" by Democrats, and businesses. Specifically, the bulk of the money comes from a special 3.8% Medicare tax on 5 million people earning more than $200,000 a year. That tax is imposed on capital gains, dividends, rents, royalties and interest — that is, investment income.
Obama already has proposed boosting these taxes in his budget. So the top tax take on dividends and cap gains will rise to 23.8% from 15%, an increase of nearly 59%, while top rates on interest and rents will soar from 15% to nearly 44%, a 193% jump.
About 50% of this higher-taxed group reports small business or partnership income. So don't be fooled: These aren't taxes on the "rich," but on small businesses and jobs. |
