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February 27, 2009
The Cliff Notes on Obama's Budget
Topics: Political News and commentariesAmericans watching the new administration might wish for a study guide similar to CliffsNotes used by high school kids. Today the WSJ provides such a guide that works through the administrations talking points and breaks down the larger meaning beneath Mr. Obama's more frequent lines (which is link everything conservative with everything gone wrong). It also contains a warning for the middle class:
"If your family earns less than $250,000 a year, you will not see your taxes increased a single dime." Translation: For now.Read it all here...The president's budget proves he intends to tax the top 2% of earners at effective rates much higher than under Bill Clinton. Still, even if he taxed 100% of this group's income, it wouldn't come close to covering his budget costs. Nor will winding down Iraq. If Mr. Obama is committed to his agenda, much less his deficit reduction, the middle class will have to give it up.
Obama's budget and new programs means higher taxes for all of us - down to our grandchildren. It also is likely to bankrupt the country. There is absolutely no way that Obama can balance the budget without substantially raising taxes, and it's not only going to be those who make $250,000. Middle class, get ready for a real hit on your income, regardless of what Obama now says. The era of big government is back and the Democrats want all of us to pay for it, starting with the wealthy.
Posted by Hyscience at February 27, 2009 7:31 AM
Articles Related to Political News and commentaries:
- The Cliff Notes on Obama's Budget - Feb 27, 2009
