Posted on 02/09/2016 11:11:29 AM PST by BenLurkin
President Obama presented the final budget proposal of his presidency Tuesday, a $4.15 trillion package that he is calling "a roadmap to a future that embodies America’s values and aspirations."
The proposal would boost total spending by 4.9 percent, mainly as a result of increases in mandatory programs, most notably Social Security, and a rise in interest payments on the national debt.
...
House Speaker Paul D. Ryan (Wis.) said that "this isn’t even a budget so much as it is a progressive manual for growing the federal government at the expense of hardworking Americans." He said in a statement that "we need to tackle our fiscal problems before they tackle us."
...
The administration's proposed deficit-reducing plan includes $955 billion from curbing "inefficient tax breaks for the wealthy" and closing loopholes for high-income households. It also includes $375 billion in savings on federal health-care spending. And it assumes $170 billion over 10 years from immigration reform, primarily from a wave of new taxpayers that would result.
...
Obama's budget includes a raft of controversial tax proposals that have drawn Republican fire in the past. They include taxing capital gains and carried interest at the"Buffett tax," which would set a minimum tax rate of 30 percent on people who earn more than $1 million; restoring estate tax rates and thresholds to 2009 levels; and imposing a fee on financial institutions.
Obama also laid out a business tax reform that looks a lot like one proposed last year. It includes a 19 percent minimum tax rate on income, and a 14 percent one-time tax on previously untaxed profits parked overseas.
(Excerpt) Read more at washingtonpost.com ...
Ryan is pathetic. He dealt with the devil and thought it would gain him respect. I despise those supposed conservatives who chose Ryan as Speaker.
House Speaker Paul D. Ryan (Wis.) said that “this isn’t even a budget so much as it is a progressive manual for growing the federal government at the expense of hardworking Americans,” [before signing off on it].
more dangerous weapons for IsalmoNazi terror gangs, eh?
Does it still have the $10 a barrel oil tax?
“Obama is asking Congress to embrace corporate tax reform and a $10-a-barrel oil “fee†phased in over five years for use on “clean tech†infrastructure. “
Yes, it’s in there.
This is the nub of the matter we were, uh, discussing the other night when Cruz was, it seems, unfairly accused of wanting a value added tax, or VAT.
The general agreement seemed to be that a VAT—or any new tax—isn’t the issue or the problem.
The problem is (drum roll please) spending. As here.
So we don’t need more money, we need less spending.
Like a sorority girl on spring break with a debit card, the executive branch, along with the acquiescence and unwillingness of the Congress to do their jobs, our first king spends it as fast as we can deposit it.
So there it is—seven years of spending, and as fast as the foreign-born usurper in the WH can think of new ways to waste our money; as well as the fact that our heroes in Congress, the people who are supposed to be minding the store, who act like they’re being forced to go along, are flaccid, flabby p-u-s-s-i-e-s.
Well the idiot congressional leadership told him ahead of time that he had a blank check.
I have a question about the $10 per barrel tax. Is it for every barrel pulled out of the ground, or every barrel refined?
The former would make us oil non-competitive and kill the entire industry here.
I’ve never seen a report on this tax that fully explains when the tax is applied.
We're gonna need them.
This is the darkest and most costly part of the Obama reign, and should be hung like an albatross around his neck.
All these continuing resolutions were based on a budget that included wars in Iraq and Afghanistan, and the Wall Street bailout. This money has gone to line a few select pockets, and that is all, while leaving the American taxpayer to carry the huge debt being left behind, with no backstop to address future problems.
The CR's were never based on a "normal budget", but the extraordinary budgets inflated by the war and the bailout.
There is money for Albuquerque!
“ALBUQUERQUE, N.M. (AP) - President Barack Obama’s proposed federal budget includes support for funding for a major mass transit project in Albuquerque.
Grant funding recommended by the Federal Transit Administration would provide $69.7 million for construction of the Albuquerque Rapid Transit bus system on a nine-mile stretch of Central Avenue between Coors Boulevard and Louisiana Boulevard.
Funding for the grant recommendation announced Tuesday requires approval through the congressional budget process.
The project would include construction of dedicated bus lanes as well as new stations in the middle of Central Avenue along with wider sidewalks, new landscaping and additional traffic signals.”
At first blush, knowing as little as I know about it hope it is not approved.
One lane East one lane West seems to throttle the flow of traffic. Delivery trucks will block traffic.
imo it would be another Railrunner fiasco!!!
Just $70,000,000? Who cares, what does it matter? Etc, etc.
Hope someone here knows more than I do!!!!!!!!!!
Well, it’s a fee, not a tax...
It’s to pay for the Dem pipe dreams, although they will claim it’s for highways and infrastructure.
I haven’t seen a clear explanation, either.
http://www.powerlineblog.com/archives/2016/02/obama-to-oil-companies-and-motorists-drop-dead.php
Grab the K-Y and polish up those knee pads Ryan and McConnell.
McConnel is scrutinizing Obama’s budget to see if that 5% hike can be negotiated to 15%. He and Ryan are master negotiators, you know.
So, when does Paul Ryan get a chance to approve it?
There are 150 businesses in the Nob Hill area that have signed petitions opposing this. Central Avenue is very narrow in this stretch as is and congestion is terrible. Taking two lanes of the four out for a busway will leave no room for trucks delivering food and packages to the restaurants and stores fronting the street, and access to the businesses will be even more difficult.
Do not know where in the world the idea came from. First thought, follow the money.
Hector B. is already running for gov, just hasn’t announced.
Route 66 won’t be the same!
Do you have any idea why?
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