Thread: Economics The Fiscal Cliff Approacheth
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Old 11-14-2012, 09:39 AM   #147
Direckshun Direckshun is offline
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Join Date: Oct 2006
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Obama's offer, essentially:

Quote:
  • Allow the Bush tax cuts on high earners to expire. $849 billion
  • Limit itemized deductions to 28 percent, close some loopholes and deductions on high earners, eliminate tax breaks for oil and gas companies, eliminate the carried interest loophole, plus a few other items. $584 billion
  • Create a special "Buffett Rule" tax rate for millionaires. $47 billion
  • Restore the estate tax to 2009 levels. $143 billion
  • Limit corporate income shifting to low-tax countries. $148 billion
  • Other miscellaneous tax increases and reductions. About -$200 billion
  • Total: $1.6 trillion
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