Top 10 Lists

Top 10 Most Outrageous Taxes Proposed (or Publicly Floated by Obama)

Compiled by David Boaz, executive vice president of the Cato Institute.

1. Raise the top income tax rates from their current 33% and 35% to 36% and 39.6% in 2011.

2. Implement a cap-and-trade system for emissions permits, the functional equivalent of a massive new energy tax.

3. Increase capital gains and dividend taxes by 33% for people already paying high income tax rates.

4. Raise a variety of business taxes by $353 billion over 10 years, including repeal of LIFO inventory rules, restoring Superfund taxes, levying seven tax increases on energy companies, and more.

5. Impose a value-added tax (VAT) on all goods and services.

6. Limit itemized deductions for people paying high rates.

7. Restore the estate tax at 45%.

8. Tax employer-provided cell phones.

9. Raise taxes on overseas corporate earnings.

10. Eliminate Health Savings Accounts and Flexible Savings Accounts.


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