http://www.foxnews.com/politics/2015/02/02/list-obama-administration-tax-increases-in-2016-budget/Published February 02, 2015FoxNews.com
The following is a list of tax increases in President Obama’s fiscal 2016 budget proposal. The totals reflect the value of tax increases over 10 years, from fiscal 2016-2025.
Limit deductions for top earners to 28 percent rate, even if income is taxed at 39.6 percent: $603.2 billion
Impose a 14 percent one-time tax on previously untaxed foreign income: $268.1 billion
Impose a 19 percent minimum tax on foreign income: $206 billion
Modify estate and gift tax provisions: $214.4 billion
Change the taxation of capital income: $207.9 billion
Other increases from reform of U.S. international tax system: $135.8 billion
Impose a financial fee on large financial companies: $111.8 billion
Increase tobacco taxes and index for inflation: $95.1 billion
Repeal LIFO (Last In First Out) method of accounting for inventories: $76.1 billion
Conform SECA (Self Employed Contributions Act) taxes for professional service businesses: $74.6 billion
Other revenue changes and loophole closers: $47.9 billion
Eliminate oil and natural gas preferences: $45.5 billion
Implement the Buffett Rule by imposing a new “Fair Share Tax” (making millionaires pay at least 30 percent tax rate): $35.2 billion
Reform the treatment of financial and insurance industry products: $34.4 billion
Limit the total accrual of tax-favored retirement benefits: $26.0 billion
Other loophole closers: $24.3 billion
Reinstate Superfund taxes: $21.2 billion
Tax carried interests as ordinary income: $17.7 billion
Make unemployment insurance surtax permanent: $15.7 billion
Eliminate coal preferences: $4.3 billion
Reauthorize special assessment from domestic nuclear utilities: $2.3 billion
Increase and modify Oil Spill Liability Trust Fund financing: $1.6 billion
Repeal tax-exempt bond financing of professional sports facilities: $542.0 million
