The basics on Obama's plans for taxes and the economy
Now that Barack Obama has won the White House, here's a quick review of his original proposals for tax changes on capital gains and dividend income:
--- Families with incomes below $250,000 would pay current capital gains rates (a maximum tax of 15% on gains on assets held more than one year). Those earning more than $250,000 would face an increase -- a top rate of 20%.
--- The top dividend tax rate would remain the current 15% for those earning less than $250,000, but would rise to 20% for those earning above that threshold.
--- For single people, the tax increases above would apply to those earning more than $200,000.
Whether he'll stick with any of this is, of course, an open question. The Democratic majorities in the House and Senate will certainly want their say.
If you want to read all of Obama's tax proposals as detailed during his campaign, click here.
To read his plan for the economy, click here.