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6 of 22
Obama wants to make the tax code more progressive.
Tax carried interest as ordinary income rather than as an investment gain, thereby subjecting it to much higher tax rates than 15%.
Freeze the exemption amount of estates free from the estate tax at $3.5 million -- where it will be in 2009.
Freeze top estate tax rate at 45%.
Raise capital gains and dividend tax rates to 20% from 15% for couples making more than $250,000 and singles making more than $200,000.
"We've lost the balance between work and wealth. I will close the carried interest loophole, and adjust the top dividends and capital gains rate..." --
IN-DEPTH: What Obama means by tax the wealthy
NEXT: Fighting Foreclosure
Last updated November 06 2008: 11:36 AM ET
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Source: *Sept. 18, 2007, Speech, Washington, D.C.
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