Jobs Jobs Jobs
Job's Bill. How to pay for it: Obama has proposed: •A limit on itemized deductions and exemptions for individuals who earn over $200,000 and families earning over $250,000, a tax increase that would raise about $400 billion over 10 years, according to Lew. •A provision to treat carried interest -- the interest earned by investment fund managers -- as ordinary income, rather than taxing it at the capital gains rate. That would raise $18 billion, Lew said. •Scrapping various oil and gas tax provisions which raise $40 billion. All three ideas or versions of them were part of the budget plan Obama proposed in early 2009. A reporter reminded spokesman Lew that a Democratic-controlled House and Senate had chosen to not pass these measures in 2009 and 2010. “You had a Democratic House and a Democratic Senate and it went nowhere. So how are you going to get it done now with a Republican House?” he asked? Great question.
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