These are details from one summary of Obama's tax hikes:
Taxing the rich: The record under Obama (cnn.com)
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Taxing the rich: The record under Obama
by Jeanne Sahadi @CNNMoneyJanuary 30, 2015: 5:38 PM ET
President Obama's budget proposals to tax the rich are usually DOA with Republicans. Nevertheless, the top 1% are now paying an average tax rate that's 6 percentage points higher than when Obama first took office.
New year. Old strategy.
The White House has already revealed many of President Obama's proposals to raise taxes on the rich that will be in his 2016 budget, due out Monday.
Among them: A plan to increase investment taxes and get rid of the so-called "trust fund loophole" in the estate tax.
The idea is to help pay for other measures aimed at helping low- and middle-income families. They may also be used to help pay for increased government spending.
Calling for higher taxes on the rich has been a feature of every one of Obama's budgets since 2009. Remember the Buffett Rule? That would have imposed a minimum 30% effective federal tax rate on the very wealthy.
That one and most others didn't get very far, but that doesn't mean Obama's push hasn't been effective.
Under Obama, the average federal tax rate paid by the top 1% of households has gone up more than 6 percentage points to an estimated 33.8% today, according to the Tax Policy Center.
What ignorant victims of 'tax-the-rich' campaign speeches are usually unaware of is that the US has been 'taxing the rich' to the upper limit almost constantly since the invention of the IRS.
