A Surtax On The Top 1%

Forbes reports:

Former Clinton Treasury economist Len Burman notes a basic unfairness in the way the surtax is calculated. Normally, taxes are assessed on net income, but the surtax will be assessed on adjusted gross income, thus depriving rich people of perfectly legitimate business deductions. In addition, the use of AGI as a tax base will raise the maximum tax on capital gains and dividends above the 20% rate proposed by Barack Obama in his budget.

An article well worth your time.