Obama’s Deficit ‘Plan’: More Tax Hikes

Here’s the long awaited “plan”.  TA DA!!

Obama will unveil a new deficit reduction plan Monday anchored by $1.5 trillion in new taxes, a package that Republicans will surely deem dead-on-arrival after ruling out tax hikes as a way to rein in the debt. 

The plan Obama is set to announce includes more than $2 trillion in entitlement cuts and tax increases over the next decade. While House Speaker John Boehner and other top Republicans have urged a newly formed bipartisan committee seeking long-term savings to avoid tax hikes, senior administration officials previewing the president’s plan said that approach is untenable. 

……The plan includes the tax hikes Obama already proposed to pay for his $447 billion jobs plan — those proposals ranged from limits on deductions for wealthy filers to an end to certain corporate loopholes and subsidies for oil and gas companies. And it includes about $800 billion over 10 years from letting the Bush tax cuts expire for families making more than $250,000 a year. 

In addition, officials said over the weekend the plan would include the so-called “Buffett Rule,” named after billionaire Warren Buffett who complained he was paying a lower tax rate than his secretary. The provision would set a new tax rate for those making more than $1 million a year. 

In total, the new tax revenue Obama is seeking is nearly double the $800 billion that Boehner had been willing to consider in July, before the so-called “grand bargain” fizzled.
http://www.foxnews.com/politics/2011/09/19/obama-to-present-balanced-plan-to-tackle-deficit/

This is the “if you love me, help me pass this”  bill.  Despite what the class war idiots tell you, the rich in this country already pay a disproportionate amount of taxes.  Except for assclown Warren Buffett that is, who doesn’t think the wealthy pay enough but hasn’t given a blank check to the IRS just yet.

Obama’s idea: cut $2 trillion dollars while raising taxes by $1.5 trillion.  One step forward, two steps back.  And the “jobs plan”?  Since wasting $787 billion on a failed “stimulus” didn’t work,  maybe spending another $447 billion, would.

What do you expect from a socialist dumbass?

Related article:

http://latimesblogs.latimes.com/washington/2011/09/obama-jobs-speech-right-now-dick-durbin.html

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