There will be winners and losers if President Obama's tax plan is approved by Congress, and the more you make, the bigger a loser you'll be.
Obama's broad proposal is to pay for healthcare reform and blue-collar tax breaks by raising taxes on wealthier families and individuals. The Tax Policy Center estimates the increased taxes on the rich would raise roughly $1 trillion over the next decade.
The rich are defined as individuals making more than $200,000, and couples who earn more than $250,000. People above those income thresholds would pay a higher tax rate beginning in 2011, and would see deductions on mortgage interest payments and charitable contributions reduced sooner.



