Posted on 03/05/2009 8:25:56 AM PST by SonOfDarkSkies
President Barack Obama is meeting strong Democratic Party resistance to his proposal to reduce tax deductions enjoyed by upper-income Americans and could be forced to drop or modify the idea.
Mr. Obama in his budget blueprint last week proposed a cap on itemized deductions for mortgage interest and charitable donations to help pay for his health-care overhaul. The plan would cost wealthier taxpayers about $318 billion in new taxes over 10 years, according to government estimates.
But after objections from Democratic lawmakers, Treasury Secretary Timothy Geithner appeared to suggest at one point Wednesday that the administration was willing to consider dropping or modifying the proposal.
The resistance from Mr. Obama's own party -- focusing on a single element of the president's tax plans -- could foreshadow broader troubles for the rest of his proposed tax increases.
(Excerpt) Read more at online.wsj.com ...
Well, uh, the taxes didn’t go over too well, so we have decided to make the national speed limit 15 miles per hour. To enforce this, we will put up 10 million speed cameras around the country. This should balance the budget in 2 years.”
Obama in his budget blueprint = How to kill a country in six months or less.
On the job training, experienced in nothing, just what you want in a president. He’s a rookie and a fool.
>>Community organizing isn’t a cornerstone of presidential qualification?<<
Maybe if he had been, oh, I dunno, a governor or something...
Oh, he's got "broader troubles" coming, alright. This is only just the start of his troubles with the American people.
He's a Chicago politician, THAT must count for something. /s
I guess Turbo Timmaaahhh is really going after those off shore and fraudulent tax shelters that the earned income poor have set up /s
He can't even do that right.
I give us at least 7 months....
No tax hikes
Reduced tax revenue
Significantly higher spending
Bailouts galore
Live as long as your great, great grandchildren live and you possibly could see it while paying for it.
Why Democrats Will Target the Investor Class in 2009
US News & World Report | October 30, 2008 | James Pethokoukis
Posted on 03/05/2009 8:00:34 AM PST by 101viking
http://www.freerepublic.com/focus/f-news/2199867/posts
Soaking the rich has consequences
Waterbury Republican-American | March 5, 2009 | Editorial
Posted on 03/05/2009 11:13:41 AM PST by Graybeard58
http://www.freerepublic.com/focus/f-news/2200024/posts
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