The Obama/Geithner Budget for 2013
1. An immediate $1 trillion tax hike through higher top
marginal income tax rates as well as higher taxes on both capital gains and
dividends affecting 90% of the working/investing middle class, not to be
confused with the “rich.”
2. An additional $600 billion more in taxes later this year by limiting tax deductions for top earners, since the GOP has already agreed to this condition is accompanied with entitlement reform.
3. An extension of either the payroll tax cut or the reinstatement of Obama’s stimulus Making Work Pay tax credit. The working “poor” already have enough in federal tax breaks.
4. Another extension of unemployment benefits; I believe this the current provision is down from 99 weeks to something in the 50 week range.
5. $50 billion in new infrastructure stimulus spending, with all of the monies going to private unions; nothing here for the private non-union contractor.
6. Obama wants billions more in new spending to prevent cuts to Medicare reimbursement payments for doctors. Of course, this is necessary because Obama took $716 billion out of Medicare to make his healthcare bill appear as “saving the nation money.” Now, after the election, he has to recover that bit of financial genius.
7. A mortgage refinancing program. This would end the mortgage tax deduction for the rich, but, of course, in time, it would extend to anyone who owned a home. Mark my words, in time anyone who owns a home will be regarded as “rich,” in the country.
8. Finally, Obama was an infinite debt limit hike and he wants that hike to be solely under his control.
2. An additional $600 billion more in taxes later this year by limiting tax deductions for top earners, since the GOP has already agreed to this condition is accompanied with entitlement reform.
3. An extension of either the payroll tax cut or the reinstatement of Obama’s stimulus Making Work Pay tax credit. The working “poor” already have enough in federal tax breaks.
4. Another extension of unemployment benefits; I believe this the current provision is down from 99 weeks to something in the 50 week range.
5. $50 billion in new infrastructure stimulus spending, with all of the monies going to private unions; nothing here for the private non-union contractor.
6. Obama wants billions more in new spending to prevent cuts to Medicare reimbursement payments for doctors. Of course, this is necessary because Obama took $716 billion out of Medicare to make his healthcare bill appear as “saving the nation money.” Now, after the election, he has to recover that bit of financial genius.
7. A mortgage refinancing program. This would end the mortgage tax deduction for the rich, but, of course, in time, it would extend to anyone who owned a home. Mark my words, in time anyone who owns a home will be regarded as “rich,” in the country.
8. Finally, Obama was an infinite debt limit hike and he wants that hike to be solely under his control.
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