Stephanie
Diamond Member
- Jul 11, 2004
- 70,230
- 10,864
- 2,040
holy smokes..
SNIP:
By Fred Lucas
February 13, 2012
Subscribe to Fred Lucas's posts
President Obama speaks about his 2013 budget proposals and the "Community College to Career Fund" at Northern Virginia Community College in Annandale, Va. on Monday, Feb. 13, 2012 (AP Photo/Susan Walsh)
(CNSNews.com) Announcing his budget plans for fiscal year 2013 in an address at Northern Virginia Community College in Annandale, Va., President Barack Obama characterized the current income tax rates--signed into law by President Bush a decade ago--as a form of government spending.
Essentially, the president said that the federal government "spends" when it does not raise taxes.
Right now, were scheduled to spend more than $1 trillion more on what was intended to be a temporary tax cut for the wealthiest two percent of Americans, Obama said. Weve already spent about that much. Now were expected to spend another $1 trillion. Keep in mind, a quarter of all millionaires pay lower tax rates than millions of middle class households. Youve heard me say it: Warren Buffett pays a lower tax rate than his secretary.
Despite the bankruptcies of three green energy companies that received heavy doses of federal tax dollars, Obama also pledged Monday to double down on clean energy.
The budget proposal faces an uncertain future on Capitol Hill. Democrats, who control the Senate, have said it is not necessary to vote on a budget for next year. Republicans, who control the House, have criticized the Obama budget, saying it contains too many tax hikes and not enough spending cuts.
Obama said his tax and spending plan would save $4 trillion by 2022. However, the budget proposal for the fiscal year beginning Oct. 1, projects a $1.33 trillion deficit, marking a fourth consecutive year of trillion-dollar deficits. The presidents plan projects that the deficit would drop to $901 billion in 2013, and to $575 billion by 2018.
the rest, a video, AND LOTS OF COMMENTS.
Obama: Not Raising Taxes is a Form of Government Spending | CNSnews.com
SNIP:
By Fred Lucas
February 13, 2012
Subscribe to Fred Lucas's posts
President Obama speaks about his 2013 budget proposals and the "Community College to Career Fund" at Northern Virginia Community College in Annandale, Va. on Monday, Feb. 13, 2012 (AP Photo/Susan Walsh)
(CNSNews.com) Announcing his budget plans for fiscal year 2013 in an address at Northern Virginia Community College in Annandale, Va., President Barack Obama characterized the current income tax rates--signed into law by President Bush a decade ago--as a form of government spending.
Essentially, the president said that the federal government "spends" when it does not raise taxes.
Right now, were scheduled to spend more than $1 trillion more on what was intended to be a temporary tax cut for the wealthiest two percent of Americans, Obama said. Weve already spent about that much. Now were expected to spend another $1 trillion. Keep in mind, a quarter of all millionaires pay lower tax rates than millions of middle class households. Youve heard me say it: Warren Buffett pays a lower tax rate than his secretary.
Despite the bankruptcies of three green energy companies that received heavy doses of federal tax dollars, Obama also pledged Monday to double down on clean energy.
The budget proposal faces an uncertain future on Capitol Hill. Democrats, who control the Senate, have said it is not necessary to vote on a budget for next year. Republicans, who control the House, have criticized the Obama budget, saying it contains too many tax hikes and not enough spending cuts.
Obama said his tax and spending plan would save $4 trillion by 2022. However, the budget proposal for the fiscal year beginning Oct. 1, projects a $1.33 trillion deficit, marking a fourth consecutive year of trillion-dollar deficits. The presidents plan projects that the deficit would drop to $901 billion in 2013, and to $575 billion by 2018.
the rest, a video, AND LOTS OF COMMENTS.
Obama: Not Raising Taxes is a Form of Government Spending | CNSnews.com