Monday, December 10, 2012

Taxing the Rich

Below you find estimates of how much money might be gleaned over the next decade from various proposals for taxing the richest Americans.

Let Bush tax cuts expire on incomes over $250,000:
$1 trillion
Let Bush tax cuts expire on incomes over $500,000:
$315 billion
Let Bush tax cuts expire on incomes over $1,000,000:
$242 billion
Taxing "carried interest" as income: $13.5 billion

Follow a "Buffett Rule", taxing the rich at least at least 30%: $47 billion

Eliminate the child tax credit and the tax-free benefit workers receive when an employer helps pay for their health insurance (applied only to households making more than $200,000): $860 billion