Obama budget would impose host of tax increases

S. Lindsey's picture

"While President Barack Obama is proposing to cut some taxes for companies that hire workers, his budget would raise a host of other taxes on businesses and wealthy individuals."AP News

But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing Bush-era tax cuts for them. Obama would extend tax cuts enacted under former President George W. Bush for families and individuals making less.

(I thought the Bush tax cuts were only for the RICH. How can Obama extend those tax cuts to the middle class if they never happened??

The tax increases on wealthy families would fulfill a campaign pledge by Obama, who has blamed Bush's tax cuts and Medicare prescription drug program for swelling the government's debt by $7.5 trillion.

From Nov 5th 2004 Story “Senate Passes Medicare Bill, The Medicare prescription drug bill ... when we have a real prescription drug program ... coverage for all Medicare beneficiaries long sought by Democrats.”

Obama lives in a world I am not familiar with. First he “gives” Tax credits to businesses that hire… then taxes the crap out of those same businesses which then pass off the new taxes to us the US Consumers.

While at the same time blaming Bush AGAIN for deficits because of a program voted in and pushed by Democrats.

Meanwhile passing budget deficits at record levels..

President Barack Obama sent Congress a $3.8 trillion budget blueprint for the next fiscal year that projects a record deficit of $1.56 trillion dollars in 2010.

One of the problems with this budget is Obama has included almost a TRILLION dollars in Cap and Trade revenues.. WHICH HAVE NOT EVEN BEEN PROPOSED YET!!!

If C&T fails which we all hope it does..

The Deficit will increase by at least a Trillion Dollars and most likely much higher.

I find it the height of Hypocrisy to blame Bush for DEFICITS all the while spending and creating deficits at record levels.

Obama is out of control. This madness must stop. Some fiscal responsibility must be forced on this administration before we are all completely broke.

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