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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
and savings of $1 trillion from the withdrawal of troops from Iraq and Afghanistan

This is the THIRD time he's used the money "saved" from these wars. It's already been spent twice before! Obomacare and the stimulus. How many times is he going to rehash this crap? What's he going to do, take a pair of scissors and cut the dollars into thirds?

81 posted on 09/19/2011 5:29:33 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: Outlaw Woman
and come back with some bullcrap tax reduction that does absolutely nothing for us.

As long as the government doesn't touch the freeloader handouts, I'm fine with that. The lazy shouldn't have to sacrifice anything. They're entitled. (/s)

82 posted on 09/19/2011 5:33:19 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: mylife

83 posted on 09/19/2011 5:52:05 AM PDT by Servant of the Cross (the Truth will set you free)
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To: mylife
Republicans are wrong when they refer to Democrat policy as "tax and spend," it's obviously "spend and tax." The interesting thing about that observation is that it betrays how both parties see the world through a subjective lens of self-interest. "Republicans" (aka the GOP leadership) quite apparently care more about taxes than spending, as we've seen. The reason is simple: Selling lower taxes is where their money comes from, while the Democrats are selling the power with which to grant favors.
84 posted on 09/19/2011 6:21:09 AM PDT by Carry_Okie (GunWalker: Arming "a civilian national security force that's just as powerful, just as well funded")
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To: WOSG

Obama, rebuked by latest elections, is going ‘all in’ on tax and spend.


Not quite. He proposed the 447 Billion in spending last week. This week he proposed raising taxes. That being the case, he’s going all in on “spend and tax” not “tax and spend”. It’s quite a different mindset.

Tax and spend - the old lib dem model - was fighting for the funding first and then spending. That caused many problems for their agenda because that nasty reality of “we don’t have the money to spend” could actually slow them from pushing forward.

Spend and tax - the new Lib dem model - is “Lets enact things into law and then claim taxes have to be raised to pay for them. If we get pushback, we will play class warfare with the people until we get them so agitated they agree that taxes on “the rich” should be raised to pay for the benefits.”

The old way was bad. This new mindset is much worse.


85 posted on 09/19/2011 6:28:50 AM PDT by Personal Responsibility (Government rushes to help the irresponsible and does little for the responsible)
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To: mylife

86 posted on 09/19/2011 6:35:53 AM PDT by left that other site (Psalm 122:6)
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To: mylife

I still can’t believe that 39% of the numbskulls in this country think this dude is favorable in the job.


87 posted on 09/19/2011 6:39:44 AM PDT by b4its2late ("Pray for Obama. Psalm 109:8")
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To: b4its2late
I still can’t believe that 39% of the numbskulls in this country think this dude is favorable in the job.

These are the really, really, REALLY dumb people who are still waiting for their Oboma money - He still be gibben it to 'em.

88 posted on 09/19/2011 6:45:53 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: mylife
Barf MSNBC poll - Do you agree with Republicans that President Obama’s proposals to raise taxes on wealthy Americans constitute “class warfare”?

89 posted on 09/19/2011 6:52:57 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: A Navy Vet

“This is a political ploy for the centrist moderate types.”

No, it’s not. He totally intends to make these cuts - off the backs of the millionaires (the ones making over $200,000/yr) he’s going to try to tax to death. You see, if we withold Medicare benefits from those who can afford their own healthcare, we can save lots of money...


90 posted on 09/19/2011 6:53:16 AM PDT by green iguana
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To: sf4dubya
The best analog to try to explain to those dolts walking down the street with ear buds on and not following the debate (and who unfortunately decide elections) is that Obamao is like the person who maxs out their credit card but instead of cutting their spending, they just call the credit card company to increase their credit limit.
91 posted on 09/19/2011 6:55:48 AM PDT by crusty old prospector
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To: mylife

Well, so much for “Equal Protection under the Law”.

One justice for the rich, one for the poor, one for the middle class and protected status for the illegals.


92 posted on 09/19/2011 6:56:35 AM PDT by OldArmy52 (Obama, the most corrupt and incompetent President since Carter.)
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To: mylife

489 Days, 03 Hours, 05 Minutes, 22 Seconds until Obama is physically removed from the White House by Capitol Police.


93 posted on 09/19/2011 6:57:17 AM PDT by Lazamataz (If Hitler had been as lazy as Obama, the 1940's would have been a very nice decade!!)
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To: green iguana

Well, at least Obaba can count on the Black vote.

He is Black. They are Black. So he gets their votes.

Anyone smell Racism here?

Nope?

Of course not. Blacks are never racist.

Only everyone else.


94 posted on 09/19/2011 7:03:18 AM PDT by OldArmy52 (Obama, the most corrupt and incompetent President since Carter.)
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To: Lazamataz
489 Days, 03 Hours, 05 Minutes, 22 Seconds until Obama is physically removed from the White House by Capitol Police.

Amen.

The scary part is - He still has over a year to do as much damage to the world as he can. He's starting to move into overdrive. He knows his time is short.

95 posted on 09/19/2011 7:03:25 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: mylife

This is all designed to excite his base, particularly the $1T in defense cuts.


96 posted on 09/19/2011 7:40:07 AM PDT by Siena Dreaming
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To: WOSG
Obama, rebuked by latest elections, is going ‘all in’ on tax and spend. PUKE.

He is doubling down. Continue his destruction of Capitalism, AND take on the GOP on taxes. He has wanted to raise taxes on everyone since he assumed his kingship - now is going for broke just a few months after agreeing with the GOP to extend the tax rates put in place by GWB in 2003. He will sell this as a Billionaire tax, but when home interest deductions are eliminated it affects everyone with a mortgage. Billionaires do not have mortgages.
97 posted on 09/19/2011 7:56:12 AM PDT by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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To: mylife

Everything going according to plan.

Obama: We are 5 days from FUNDAMENTALlY transforming America

http://www.youtube.com/watch?v=_cqN4NIEtOY


98 posted on 09/19/2011 8:35:23 AM PDT by COUNTrecount (Barry...above his poi grade.)
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To: mylife

Higher Taxes Won’t Reduce the Deficit

History shows that when Congress gets more revenue, the pols spend it.

The grand bargain so many in Washington yearn for—tax increases coupled with spending cuts—is a fool’s errand. Our research confirms what the late economist Milton Friedman said of Congress many years ago: “Politicians will always spend every penny of tax raised and whatever else they can get away with.”

http://online.wsj.com/article/SB10001424052748704648604575620502560925156.html?mod=djemEditorialPage_h

$1.5 trillion in new,additional taxes...the more they take, the more they waste.


99 posted on 09/19/2011 8:35:41 AM PDT by WOBBLY BOB (See ya later, debt inflator ! Gone in 4 (2012))
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To: mylife

“...The man is a fool, or he is counting on fools....”

The sad thing is is that there are fools that will vote for this jacka$$ again no matter what.


100 posted on 09/19/2011 8:38:46 AM PDT by NCC-1701 (In Memphis on January 20, 2009, pump price were $1.49. We all know what happened after that.)
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