How Many in Burke Might Feel Obama Tax Rate Increase?
President Obama wants to raise tax rates on those making $250,000 or more.
President Barack Obama hopes to raise taxes on Americans making $250,000, or approximately the upper 2 percent of incomes across the country. There are no hard and fast numbers for the Burke area on how many people make more than $250,000, but the latest IRS data available shows that nearly 1,700 households in Burke's 22015 ZIP code filed tax returns showing adjusted gross incomes of more than $200,000, the highest level income category reported by the IRS. Obama's plan could raise $1.6 trillion in revenue over 10 years, partly by letting decade-old tax cuts on the country's highest earners expire at the end of the year, according to a report by the Associated Press. The president would continue Bush-era tax cuts for all except those …
