Obama’s budget proposes to allow the existing 15 percent tax rate on dividends and capital gains to rise to 20 percent in 2011 for the same high-earners. Layering a 3.8 percent Medicare tax on top of that would mean a new top rate on dividends and capital gains of 23.8 percent. The top tax rates on interest and rental income would rise to as high as about 44 percent, assuming other Obama tax increases on high-earners are enacted.
Taking capital gains from 15% to 23.8% represents a 58.7% INCREASE. How's that hopey change thing workin' for ya now? Would someone please remind these socialist income redistributors that they create no wealth whatsoever. All they do is redistribute the hard work.