When Obama gives his State of the Union speech he will have to propose more new taxes than he wants, but hasn't decided which ones to choose. The health care bill he said would not take money from the Treasury, but money is needed to get the bill started, but it will definately save in the long run. Obama is thinking of taxing the 'rich': families over 500,000 and 1 million average income. His other options are:
1.A new tax on bank transactions, which would raise $120 billion over ten years, focused on big banks that received TARP money. The early accounts of this focus on how it would allow the Obama White House to win points for attacking the banks, but the real reason to do it is to help the budget bottom line.
2.Leave the capital-gains tax rate at 15 percent, but cap the income-level of those taking it.
3.Further increase Medicare payroll taxes (even beyond what is in the health care bill) for high-income individuals and families.
4.A “transaction” tax on stock trades.
msnbc
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