Thursday, July 29, 2010
- Each income tax bracket’s percentage will be increased
- Itemized deductions and personal exemptions will be phased out
- The estate tax exemption will only be $1 million along with a higher percentage taxed
- Capital gains tax will rise
- Obamacare will add over 20 new taxes
- Business expense deductions will be less helpful to businesses
For more details, see Karlan Tucker, The Largest Tax Hike in American History, Producersweb.com, July 20, 2010.
Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention.