Return of the Middle Class

[rayboyusmc]

The Robin Hood Budget
President Obama today unveiled a fiscal year 2010 budget proposal that is dazzling both in the scale of its ambitions and its deficits. It is also the most detailed blueprint yet for the profound course-change that Obama promised in his campaign.

"You know, there are times where you can afford to redecorate your house and there are times where you need to focus on rebuilding its foundation," Obama said this morning "Today, we have to focus on foundations."

What he didn't mention was that he was also ripping out some of the foundations that were laid by the previous administration.

Obama's budget would dramatically increase taxes on the wealthy, while cutting payments and subsidies to insurance companies, pharmaceutical companies, agribusiness and defense contractors -- and mandating a system to charge polluters for their carbon emissions.

It would, in short, reverse the redistribution of wealth that took place during the Bush era. This time, the rich will be subsidizing the poor, not the other way around.

White House Watch - Dan Froomkin's Blog on washingtonpost.com

 

[Skull Pilot]

I don't see how anyone can say that the top 5% of earners have been subsidized by the bottom 95% of earners when in:

1999 the top 5% paid 55.45% of all income taxes and the bottom 95% paid 44.55%
2000 the top 5% paid 56.47% of all income taxes and the bottom 95% paid 43.53%
2001 the top 5% paid 53.25% of all income taxes and the bottom 95% paid 46.75%
2002 the top 5% paid 53.80% of all income taxes and the bottom 95% paid 46.20%
2003 the top 5% paid 54.36% of all income taxes and the bottom 95% paid 45.64%
2004 the top 5% paid 57.13% of all income taxes and the bottom 95% paid 42.87%
2005 the top 5% paid 59.67% of all income taxes and the bottom 95% paid 40.33%
2006 the top 5% paid 60.14% of all income taxes and the bottom 95% paid 39.86%

Who Pays Income Taxes? See Who Pays What

So please tell me how the top 5% of earners have been subsidized by the bottom 95% of earners.

 

[driveby]

The Robin Hood Budget
President Obama today unveiled a fiscal year 2010 budget proposal that is dazzling both in the scale of its ambitions and its deficits. It is also the most detailed blueprint yet for the profound course-change that Obama promised in his campaign.

"You know, there are times where you can afford to redecorate your house and there are times where you need to focus on rebuilding its foundation," Obama said this morning "Today, we have to focus on foundations."

What he didn't mention was that he was also ripping out some of the foundations that were laid by the previous administration.

Obama's budget would dramatically increase taxes on the wealthy, while cutting payments and subsidies to insurance companies, pharmaceutical companies, agribusiness and defense contractors -- and mandating a system to charge polluters for their carbon emissions.

It would, in short, reverse the redistribution of wealth that took place during the Bush era. This time, the rich will be subsidizing the poor, not the other way around.

White House Watch - Dan Froomkin's Blog on washingtonpost.com

Wrong .......

 

[Skull Pilot]

It should be called the "Robbin' da Hood" budget.

hey if the repudlicans need a hip hop makeover then the dims should be embracing their hip hop roots

 

[Sinatra]

 

[Skull Pilot]

 

[ScreamingEagle]

LOL Robin Hood must be one of those green jobs

 

[Xenophon]

They won't be around long if they start raising taxes.

 

[WillowTree]

They won't be around long if they start raising taxes.

they will have no choice,, they have to raise taxes on everybody,, there aren't enough rich people to pay for his extravaganza..anybody who thinks so is sniffing fairy dust.

 

[Sinatra]

LOL Robin Hood must be one of those green jobs

Ah, good point. We better post in color then...

 

[LordBrownTrout]

the middle class are about to get taxed into oblivion. The same goes for small business. It's gonna get ugly.