The Tax Foundation studied President Obama’s proposed budget and found that the $118 billion will be redistributed from the top earners. The Foundation’s chart shows that a taxpayer in the top one percent will pay an additional $101,314 for a total of $509,257 redistributed and taxpayers in the bottom ten percent will receive an additional $494 for a total of $17,962 in redistributed funds. For more about the proposed budget, see CCH’s “FY 2011 Federal Budget – Tax Proposals.”
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