Obama budget: Trim deficit with tax hikes on the rich
Obama wants his 2011-12 budget to reinstate corporate and high-income tax hikes he couldn't get passed by the last Congress
Obama budget: Trim deficit with tax hikes on the rich
Joseph N. DiStefano
Obama's 2011-12 budget, for nearly $4 trillion, includes higher taxes on people earning over $200,000, private-investment managers, oil-and-gas companies, and US companies that make money in foreign countries, all of which he failed to get through the last Congress, and most of which the current, more Republican Congress is likely to resist.
Obama also calls for more aid to solar and wind energy, electric cars, high-speed trains and the Securities and Exchange Commission; and confirms a big drop in military spending as we cut back on the US wars in Afghanistan and Iraq; along with smaller cuts (or at least slower increases) in student loan subsidies and most other government programs.
Read the budget and other Obama propaganda here. Republicans say Obama doesn't cut enough government spending.
...Obama propaganda...? Better be careful Joe you may incur the wrath of the obamanistas.— junethe4th
Obama is the same old, same old. Ron Paul in 2012 sounds like a plan to me.- And is it my limited reading skills or is the Treasury counting as revenues the interest payments remitted back to Geithner by the Fed on the trillions in monetized debt. In other words, the more debt monetized, the stronger the "revenues!"
- Since when is rich over $200,000?— changkarate
If the GOP wants to fight the deficit more vigorously, the marginal tax rate could be raised to 70%--below which it did not drop during the prosperous years, 1947--1973. That would be the best answer.
This socialist ... wont be happey until he chases every last dollar out of America. If we "tax the rich" to death who is going to employ Americans, start businesses, and expand businesses???? A bunch of minimum wage earners?!? I think not. Wake up America...the ONLY way to cut the deficit is to CUT SPENDING AND ENCOURAGE THOSE WITH MONEY TO SPEND IT CREATING JOBS!- @ Wilhelm - I agree 110%! Ron Paul is the only way to got for 2012. The socialist Democrats and RINOs have killed America.
- They should take away the tax [write]-offs for the rich so they would pay a fairier fair share— RichH
- I bet all the cuts were for things in our own country and no cuts in spending money overseas— RichH
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This is the worst president we have EVER had. When faced with crushing debt his idea is spend more on a high speed rail, and electric car that consumers don't want ??? Even worse his foolish policy is to tax the business people who do have ideas. So in his socalist world you punish the achievers and force the public to live the way the government wants it to. Time to kick this clown out of the people's house.
