Obama Raises Taxes For One-in-Four, Says Analyst
A nonpartisan research group estimates that President Barack Obama’s budget would raise taxes next year on 1 in 4 households, but have little impact on families earning under $200,000 a year.
The Tax Policy Center analysis also says about 1 in 8 households would get tax cuts.
The study says families earning less than $200,000 would experience tax cuts or increases averaging under $60 a year. The figures rise dramatically for better-off families, with those making over $1 million getting an average tax boost of $179,000.
A White House spokeswoman says Obama’s budget would not raise taxes on any families making under $250,000.
She attributes the discrepancy, in part, to the center’s decision to count Obama’s corporate tax increases because many families own shares of companies.
(Copyright 2012 by The Associated Press. All Rights Reserved.)