The Obama Administration Looks To Raise $600 Bn Through Taxes and Retiring Corporate Welfare
CRONKITE
Mon Jun 27, 2011 3:03pm EST
Here is how they plan to raise the funds:
End some subsidies for oil and gas companies.
Tax private equity or hedge fund managers at higher income tax rates instead of lower capital gains rates.
Limit itemized deductions for the nation’s highest earners.
Change the depreciation formula for corporate jets.
Repeal tax benefit for an inventory accounting practice used by many manufacturers.
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2011-06-27
