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Obama To Focus On Taxing And Spending

From a valiantly sugar-coating Reuters:

Obama to lay out deficit plan with focus on tax, spending

By Alister Bull And Caren Bohan
April 13, 2011

WASHINGTON (Reuters) – President Barack Obama on Wednesday will propose tax reform, defense savings and changes in government healthcare spending as criticism swells over his leadership on curbing a bloated budget deficit.

Obama, accused of laying low on an issue polls show will be a major factor in the 2012 presidential election, will explain his vision for tackling the long-term U.S. deficit and debt in a speech in Washington at 1:35 p.m..

"The president will lay out four steps to achieve this balanced approach," a White House official said, citing defense budget savings, waste from healthcare, domestic spending control, and "tax reform that reduces spending in our tax code" — a reference to closing tax loopholes.

We know Mr. Obama wants to cut defense even though we are in the middle of three wars. We are familiar with his laughable plans to eliminate waste and fraud from healthcare.

But what is "domestic spending control"? And what is "tax reform that reduces spending in our tax code"? – It probably means he wants to further reduce tax deductions, such as the home mortgage deduction.

And, to add insult to injury, he calls this a reduction in spending.

"What is not acceptable … is a plan that achieves serious deficit reduction only by asking for sacrifice from the middle class … while providing substantial tax cuts to the very well-off," White House press secretary Jay Carney said on Tuesday.

So we are right back where we were in December, with Obama push to raise taxes on everyone making over $200,000 and families making over $250,000. His word, his deals – are meaningless.

And all of his recent talk about how businesses and the market need stability? — Just words.

The International Monetary Fund urged the United States on Tuesday to outline credible measures to reduce deficits.

Oh, well if the International Monetary Fund says we should raise taxes, then by all means, we have to raise taxes.

Obama’s budget proposal for next year already includes allowing Bush-era tax cuts to expire for American families making more than $250,000 a year

Allowing Bush-era tax cuts to expire? They are not scheduled to expire until the end 2012. Obama is proposing killing them. But the news media are perfectly happy to pervert the language to cover for him.

The White House says reducing the deficit must be a shared sacrifice that includes finding savings from spending as well as increased revenue from taxes.

Mr. Obama has already raised taxes in any number of ways. He has not cut spending in any meaningful way.

When Mr. Obama came into office, government spending – federal, state and local — was 35% of the economy. Under Obama government spending has gone up from 35% to 44% of the economy. It’s time for the government to sacrifice for a change.

"The president will make clear that while we all share the goal of reducing our deficit and putting our nation back on a fiscally responsible path, his vision is one where we can live within our means without putting burdens on the middle class and seniors," the White House official said.

It is sheer insanity to pretend that we can live within our means when we borrow more than $.40 on every dollar we spend. We cannot increase taxes any further without completely destroying the economy. Nor should we want to. The government is already getting far more of the country’s GDP than it should.

This isn’t complicated. The government has to get smaller, not larger. There is no other viable option.

This article was posted by Steve on Wednesday, April 13th, 2011. Comments are currently closed.

6 Responses to “Obama To Focus On Taxing And Spending”

  1. BigOil says:

    A marxist doing what a marxist does. This new 5 year plan should put us on the road to prosperity.

  2. proreason says:

    Obamy’s toilet paper is embossed with his world leader seal with a wreath around it that says “more taxes”.

    When he eats a dessert, the chef arrranges the little sprinkles to say “more taxes”.

    When his sychophants greet him, they lift their right arm and say “heil taxes”.

    Taxes, you see, are the means to destroy the middle class, and drive the entire country into serfdom.

    Serfs are so much easier to rule than those pesky truck drivers and auto mechanics, what with their quaint notions that they are free people and all that passe bullshit.

    • tranquil.night says:

      Oh my how HA has fallen:

      “The stakes get higher in Round 2, and the challenges do as well for Republicans According to the survey, raising taxes on households with income over $250,000 enjoys majority support, 59/37.  Independents support these higher taxes for wealthier Americans 60/37.  Republicans may have to find a way to give on that issue or better explain why it will hurt the economy and result in no real revenue increase.”


      No Ed, the Republicans can do whatever they want. The leadership has already burned their bridges. The rest have some choices to make. If that includes any Tax increases then they can say goodbye to their relationship with the Taxed Too Much Already Party, and their job.

  3. Rusty Shackleford says:

    The best indicator of the health of the middle class is, and always has been, the health of the small businesses. They are right at the $200,000 to $250,000 area. Tax them out of existence and the middle class follows. After WW-II, the middle class flourished, as did manufacturing jobs and — small businesses. See where it is now? Yes, that’s you and me and the vanishing horizon.

  4. tranquil.night says:

    How’s that ‘Change in Conversation’ working out for ya, beltway rubes?

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