Obama has decided to go full bore Progressives with his 2012 budget. He proposes meager cuts that amount to nothing. On top of that, he proposes a tax hike on those making over $250,000. This is straight bout of teh 3rd World Liberation playbook. He will demonoze those that make over that amount to bludgeon the Republicans. WIth the political machine he has behind him, it could work.
President Barack Obama will lay out his plan for reducing the nation’s deficit Wednesday, belatedly entering a fight over the nation’s long-term financial future. But in addition to suggesting cuts—the current focus of debate—the White House looks set to aim its firepower on a more divisive topic: taxes.
In a speech Wednesday, Mr. Obama will propose cuts to entitlement programs, including Medicare and Medicaid, and changes to Social Security, a discussion he has largely left to Democrats and Republicans in Congress. He also will call for tax increases for people making over $250,000 a year, a proposal contained in his 2012 budget, and changing parts of the tax code he thinks benefit the wealthy.
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Eliminating the Bush tax cuts for the highest earners, however, will only put a small dent in the projected deficit.
The Republcians need to point out that raising taxes on those making $250,000 will bring in much revenue. They need to hammer this daily to blunt Obama’s demagoguery on this issue.
Tags: 2012 Budget, Debt Crisis, Deficit Reduction, Tax increases
