Friday, April 2, 2010

Obama Taxes Middle Class

By 2013, investment taxes for the wealthiest Americans will rise to roughly 24% from the current level of 15% -- the highest level since the Reagan era. The tax applies to roughly 1 million individuals who earn over $200,000 and 4 million couples who rake in more than $250,000.

While this group makes up just 2% of the population, it's a far bigger driver of market activity than the other 98%. In addition, the higher rates aren't tied to inflation, meaning middle-class Americans will eventually price into the group.

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