Obama Socialist Plan: Three dollars in new taxes for every one dollar in spending cuts
Comrade President Obama proposed a deficit plan that calls for about three dollars in new tax increases for every dollar in additional spending cuts, reports the Washington Times.
Anyone with a brain knows how this Socialist Shell Game really works. The tax increases are up-front and right now - "Give us your money you Capitalist pig and oppressor of the masses." But the phony spending "cuts" are spread over many years and never happen. The Obama plan is more of the same with the #1 priority being to protect the jobs of unionized government workers who give millions and millions to the Democrat Party.
The Obama plan totals $4.4 trillion in deficit reduction, though $1.1 trillion of that comes from war savings all sides agree was going to happen anyway, another $1.2 trillion that has already been enacted, and more than $450 billion in tax increases he proposed last week — and has already accounted for in new spending. Another $430 billion comes from lower interest payments because of the potential lower debt.
That means in terms of actual new proposals, the president’s plan totals about $1.2 trillion, of which the lion’s share comes from his long-standing vow to raise taxes back to Clinton-era rates on the top income brackets.
“We’ve got a 9.1 percent unemployment rate. Does anybody think that’s a good idea other than the president?” said Senate Minority Leader Mitch McConnell. “There’s bipartisan opposition to what the President is recommending already.”
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