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Obama to propose $1.5 trillion in new tax revenue as part of long-term deficit package
AP ^ | 9/18/11 | Jim Kuhnhenn

Posted on 09/18/2011 9:08:22 PM PDT by mylife

WASHINGTON (AP) -- Drawing a bright line with congressional Republicans, President Barack Obama is proposing $1.5 trillion in new tax revenue as part of his long-term deficit reduction plan, according to senior administration officials.

The president on Monday will announce a proposal that includes repeal of Bush-era tax cuts for the wealthiest taxpayers, nearly $250 billion in reductions in Medicare spending, $330 billion in cuts in other mandatory benefit programs, and savings of $1 trillion from the withdrawal of troops from Iraq and Afghanistan, the officials said.

The plan includes no changes in Social Security and does not include an increase in the Medicare eligibility age, which the president had considered this summer.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Breaking News; Government; News/Current Events
KEYWORDS: 0bama; bovinefeces; deficit; delusional; highertaxes; momoney; newtaxes; obambi; shovelready; taxedenoughalready; taxes; trilliondollarbaby; zer0
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To: mylife

“To that end, Obama on Thursday will be at a bridge linking Ohio and Kentucky — home states to Boehner and Senate Republican leader Mitch McConnell. He will use the bridge as a prop to call for increased spending on infrastructure.”

Maybe he can jump off it while he’s at it.


61 posted on 09/18/2011 10:53:13 PM PDT by headstamp 2 (Time to move forward not to the center.)
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To: headstamp 2
Believe me, we have some great bridges to jump from there!

Obama is a lying jackass and the locals know it, along with a wide swath of the nation at large.


62 posted on 09/18/2011 11:03:11 PM PDT by mylife (OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
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FUBO!


63 posted on 09/18/2011 11:16:32 PM PDT by mylife (OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
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To: mylife
To that end, Obama on Thursday will be at a bridge linking Ohio and Kentucky

Maybe he will try to sell it on E-Bay...

64 posted on 09/18/2011 11:44:13 PM PDT by spokeshave (Obamas approval ratings are so low, Kenyans are accusing him of being born in the USA.)
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To: mylife
"Announces revenues"? What nonsense is this? He can't announce revenues, he has no idea what those revenues will be. He is changing tax rate, not revenue, and any revenue figures he comes up with out of that are estimations, only good if people don't react to a change in tax rate with a change in behavior. Which they always do - that's the very basis of social engineering through taxation, after all. Ceteris paribus will kill you.

I see the figure $1.5 trillion mentioned but only $800 billion specified, a revenue increase he hopes to realize by allowing the Bush-era tax rates to increase. Not only is that an entirely unsupported figure, but we're some $700 billion short here even if it happens, which it won't. The author desperately throws out the distraction of spending cuts, but spending cuts are not revenue increases. Where is the rest of it coming from?

This one's dead on arrival.

65 posted on 09/18/2011 11:45:57 PM PDT by Billthedrill
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To: mylife
Maybe he can charge a $ a word to post on www.attackwatch.com

the hilarious twitter postings come too fast and furious to keep up.

66 posted on 09/18/2011 11:51:31 PM PDT by spokeshave (Obamas approval ratings are so low, Kenyans are accusing him of being born in the USA.)
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To: Billthedrill

He is trying to tax Tx for Pennsyltucky.


67 posted on 09/18/2011 11:52:15 PM PDT by mylife (OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
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Rick Perry is right. Tell the FEDs to go to hell


68 posted on 09/19/2011 12:00:28 AM PDT by mylife (OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
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Comment #69 Removed by Moderator

To: mylife

If he included plans to cut spending, I might believe this is aimed at the deficit, but ultimately, I think we all know he’s just looking for more bribery money ahead of the 2012 election.


70 posted on 09/19/2011 3:05:35 AM PDT by RWB Patriot ("My ability is a value that must be purchased and I don't recognize anyone's need as a claim on me.")
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To: mylife

One trick pony - Raise taxes.

F’n Idiot.


71 posted on 09/19/2011 3:12:54 AM PDT by roaddog727 (It's the Constitution, Stupid!)
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To: Army Air Corps

“His needle is stuck on stupid...on stupid...on stupid...on stupid...”

His needle is stuck in his arm.......


72 posted on 09/19/2011 3:39:45 AM PDT by mmanager
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To: mylife

Just what the struggling economy needs right now, more candy for the give-away machine in DC.

This will do nothing for the economy because the Congress will only go out and spend that much more, not to mention how it will kill investment and the jobs that would come from it.

Marxism doesn’t work.


73 posted on 09/19/2011 3:48:28 AM PDT by R0CK3T
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To: R0CK3T
nobama isn't "stupid". nobama hates you, hates your family, hates your success, hates Free America, hates Americans, hates the Constitution and hates the Bill of Rights. nobama is a hate crime foisted upon America. nobama is the Destroyer . Everything nobama does is intentional. God help us all.
74 posted on 09/19/2011 4:21:06 AM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: mylife

This dumbass was never taught HOW to think- only WHAT to think.

He has one solution for ever problem- more government.

If his handlers know he is not going to win election they may go all out NOW while he is still in power.

This will be good for us [as long as we can stop any of it from passing] because people do not want what he is selling, so he will lose even bigger- unless they get desperate and declare martial law or something.

SOMEBODY PRIMARY JOHN BOEHNER!!!!!! OR AT LEAST CHALLENGE HIM FOR SPEAKER SEAT.


75 posted on 09/19/2011 4:25:34 AM PDT by Mr. K (Palin/Bachman 2012- unbeatable ticket~!!!)
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To: headstamp 2

Naw...it is just one of the 151,394 ‘dangerous’ bridges he referred too.


76 posted on 09/19/2011 4:36:10 AM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: Cheerio

It is not OCD but two of the deadly sins.

Sadly, I was just sitting here thinking...

I have not left the country, the country has left me.


77 posted on 09/19/2011 4:40:32 AM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: jdege
"They simply don’t understand.

They can raise the marginal tax rate, but that won’t raise revenue, it will reduce it."

They get it. This is about power and control, about increasing privation and dependency on the government. At its worse, it is about crashing the system through endless additional spending and demands. It's called the Cloward Piven strategy.

78 posted on 09/19/2011 4:50:58 AM PDT by Truth29
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To: Victor

Insanity is doing the same thing over and over and expecting a different result. It is clear that his policies have not worked in the past and have exacerbated the problems of the economy. The country is melting down and the emperor is walking around with no clothes. When a narcissist finally realizes that everyone around them does not worship the ground they walk on, there can be terrible consequences. I agree with you, a meltdown on public TV would be a priceless thing to see.


79 posted on 09/19/2011 4:57:54 AM PDT by toolman1401
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To: mylife

Repeal the state-run medical care bill those tyrants mockingly crammed down America’s throat.


80 posted on 09/19/2011 5:01:36 AM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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