Posted on 02/01/2010 10:57:46 AM PST by NormsRevenge
WASHINGTON (AP) - While President Barack Obama is proposing to cut some taxes for companies that hire workers, his budget would raise a host of other taxes on businesses and wealthy individuals.
Obama's budget would extend his signature Making Work Pay tax credit—$400 for individuals, $800 for a couple filing jointly—through 2011. The administration released the budget Monday.
But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing Bush-era tax cuts for them. Obama would extend tax cuts enacted under former President George W. Bush for families and individuals making less.
Obama revived numerous proposals for business tax increases that didn't fare well in Congress last year, including a scaled-down plan to increase taxes on U.S. companies with major overseas operations, and plans to increase taxes on oil and gas companies.
(Excerpt) Read more at breitbart.com ...
It's gettin' there.
I hear ya.
Of course they do.
You wanted “change” America. You got it. :)
Fortunately for me, since Obama has been President, my income has fallen below $250K! Aren’t I lucky, no tax increase for me.. /s
I hear ya. That 5% increase in Capital Gains from 15 to 20% for those over 250K.. that is such a low blow..
This gubamint needs to muzzled.
There are NO tax cuts. Only tax credits and a taxpayer has to do something to qualify for the credit. Never forget, the dimrat party only raises taxes. The Bush tax rates are due to expire at the end of this year and you can count on the rats to impose new taxes to pile on the existing raised rates. Plus the kenyan’s budget includes revenue from nationalized health and energy industries, which hasn’t happened yet.
Tax and Spend liberals!
This will help consumer spending/sarcasm.
Once inflation begins to creep up, they will have to raise interest rates. Couple this with higher taxes on businesses (which will be passed on to consumers) and high income people, you can kiss the “recovery” goodbye.
Douple dip recession, anyone?
And the moron thinks this is going to help create jobs? What a fool is the Prince of Semi-Darkness.
Do you all think he might have bowed to this mayor to try to take the heat off himself for bowing to the Muslim and Chinese rulers? I mean he might have been saying, ‘look, it’s just a thing I do. I bow to everybody’.
Very SHREWD, Hussein. Just the thing to do to create employment....penalize the folks who actually HIRE!
Complete INSANITY!
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