* Obama's budget claims that it cuts taxes for families by $770 billion. Yet, the same document admits that fully $326 billion -- nearly half -- is in fact new spending, not tax cutsRead more at the link below:
* The budget raises the top two income tax brackets from 33 percent and 35 percent to 36 percent and 39.6 percent, respectively. These are the tax rates in which $2 out of every $3 in small business profit is taxed. That includes 90 percent of the profits from partnerships and Subchapter S corporations, and 40 percent of the profits from sole proprietorships. This small business tax hike alone is $339 billion
* The Obama budget imposes a "cap and trade" tax of $646 billion. Every American family will pay this tax in the form of higher gasoline, heating, and electric bills -- an average of $3100 per family per year.
* The Obama budget raises taxes on investors in several ways. The capital gains tax is hiked from 15 percent to 20 percent. The dividends tax is raised from 15 percent to 20 percent. Capital gains earned by investment partnership managers are taxed as high as 39.6 percent. At a time when the stock market wealth has nearly been cut in half, why is Obama proposing a $142 billion tax hike on the stock market?
ATR Hosts 'Tax Day Eve' Press Conference
