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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (42748)	4/14/2010 5:19:07 PM
From: TimF	Read Replies (1) \| Respond to of 71588

Although it affects only a small slice of the pop. Considering the fact that they are applying it to investment income for the first time, it affects essentially all of the population, through its effect at the margin in distorting and reducing investment. And it affects an awful lot of small business owners, as they typically report business income as their own income. S-Corps rather than C-Corps. As for the rest... they aren't proposing any changes to the existing legacy legislation that's on the books just yet Wrong. The tobacco tax has already been increased. The mandate penalties for individuals and corporations, well they are more of a fine than a tax, but they are taking money from people just as taxes do, and they have already been passed in to law. The tax on medical devices has already been passed, and so on. Once Obamacare passed you had a whole series of new taxes, that aren't just returning the rates to the Clinton years, and that are changes in the law. My post was all about new or increased taxes that where also changes in law. Beyond that you have the additional tax increases that are called for by current law, but are still tax increases. They where not part of the list, and Obama hasn't done anything to make them happen yet other than talk about them, but he plans to have higher taxes.