Weirdest New Obama Taxes Proposed Include Flavored Vodka, Golf Courses
President Barack Obama has plenty of taxes in his budget proposal, with his plan to achieve $1.8 trillion in revenue featuring some truly weird ideas.
President Obama wants to establish a “Buffett Rule” of a 30 percent minimum tax rate for people making over $1 million in a year. That he’s made clear.
Far less clear? Some of the other means of increasing revenue included in his 246-page budget. Here’s a look at the five weirdest Obama taxes …
- Flavored Vodka. Distilled spirits currently get a tax break if they include flavors. No idea why, but under Obama’s new budget, they won’t anymore.
- Golf Courses. Buying land for the purpose of conserving or preserving “recreational amenities,” golf among them, is currently a tax deduction. No longer.
- Cigarettes. Current taxed at just under $1.01 per pack federally, Obama (who himself smokes at times) suggests raising that to $1.95 per pack.
- Corporate Jets. Also known as the Dead Horse Tax, because Obama has been beating this one hard for years. Just kidding … mostly.
- Businesses Can’t Deduct Punitive Damages. You can no longer claim a loss on money you have to pay if someone sues you and you lose.
This all assumes Obama’s budget passes, which in the GOP-controlled House is far from certain. But it gives you an idea of some of his fiscal ideas.
How will Obama’s second term go?
Very well, we’re on the right track!
Better than the last four years at least
Terrible, we’re doomed!