Businesses Taxed To Death!…Obama Budget Has $1.9 T
<p>Feb. 1 (Bloomberg) — The Obama administration wants to increase taxes on Americans earning more than $200,000 by almost $970 billion over the next decade and take in an additional $400 billion from businesses even as it retooled a proposed crackdown on international tax-avoidance techniques.<br /> <a href="http://ctpatriot1970.files.wordpress.com/2010/02/obamaangrylook.jpg"><img class="alignleft size-medium wp-image-2893" title="ObamaAngryLook" src="http://ctpatriot1970.files.wordpress.com/2010/02/obamaangrylook.jpg?w=300&h=201"&quality=80&strip=all alt="" width="300" height="201" /></a></p><p>The budget released today would reinstate 10-year-old income tax rates of 36 percent and 39.6 percent for single Americans earning more than $200,000 and joint filers who make more than $250,000 as part of a broad $1.9 trillion tax increase proposal. It proposes to eliminate preferences for oil and gas companies, life-insurance products, executives of investment partnerships and U.S.-based companies that operate overseas.</p>
