NO NEW TAXES!
This week Congress has been debating the pros and cons of the Obama Budget that has FINALLY been produced (after all these years!)
Obviously, the federal government “GRAVY TRAIN” continues, no matter how it is presented! He plans to pay for many entitlements by the raising of new taxes, your taxes!
Your children and grandchildren will be paying through the nose, at any rate!
President Obama presented his “tax-and-spend” budget; and it was received with a great big “THUG!” The actual deficit reduction over a decade is a miniscule $0.6 trillion – out of a total spending of $46.5 trillion.
His proposed budget includes new tax increases that hit everything from a pack of cigarettes to deductions for top earners. The Washington Post reports: “President Obama’s budget would raise taxes mainly on people earning more than $200,000 a year, although earners at nearly every income level would face a somewhat higher tax burden, according to a new nonpartisan analysis.”
FOX NEWS reports: “Though the president’s newly released plan claims to include $580 billion (WITH A B!) in new revenue over the next decade, when all taxes and fees are counted the real number is slightly higher than $1 trillion!!!”
TAX INCREASES are a part of the “Obama Blueprint” for America! This is totally unacceptable. Please fax your Congressman to VOTE AGAINST the proposed Obama budget!
Here are the real facts: The United States is $17 TRILLION in debt! Under this new budget, deficits will increase to close to $100 TRILLION over the next 75 years. YOU and I are picking up this tab! YOUR lifetime share of this national debt is $630,646!!!
YES, YOU, the average American, pay $1,600 a year just in taxes on the debt!
President Obama’s budget includes a 6.6 percent INCREASE in spending under the guise of “investment.”
Just when you thought you had possibly “turned the corner” with President Obama, via his proposed budget, he has thought up new ways to collect taxpayer dollars to feed his spending ADDICTION!
The Wall Street Journal reports: “President Obama is pitching his new budget proposal as a fiscal peace offering to Republicans, but the details suggest everyone should expect more conflict. The fiscal 2014 plan he released is a very slightly modified version of his previous budgets that reduces the deficit by raising taxes and trading defense cuts for more domestic spending.”
President Obama wants the feds to spend $3.78 TRILLION next year that comes out to be $11,944 per American!!
According to the Wall Street Journal: “Mr. Obama wants federal spending to grow to $4.45 trillion by 2018 fueled mostly by the exploding costs of his Affordable Care Act (ObamaCare!).”
The Obama Budget aims to raise $580 Billion in new taxes from OLD ideas of targeting the rich!
Forbes Magazine states: “President Barack Obama sent a proposed $3.77 TRILLION FISCAL 2014 BUDGET TO Congress that includes $580 Billon in new taxes over the next decade, raised mostly from a familiar assortment of deduction and ‘loophole’ closers aimed at the wealthy; oil and gas companies; and such corporate perks as private jets. His proposals include a 30% minimum tax on millionaires.”
The Obama Budget should be “Dead on Arrival!” (DOA)
Speaker of the House John Boehner (R-OH) says: “Unfortunately, the President’s budget never comes to a balance. Every family has to balance its budget. Washington should as well!”
Please notify your Congressman that this budget is no good:
Let’s put this in an historical perspective. The last two budget proposals from Barack Obama failed to win a single vote in either chamber of Congress. In three floor votes over two years, not even a single Democrat would stand in favor of Obama’s budgeting priorities.
Even the liberal WASHINGTON POST reported, “Democrats on Capitol Hill opposed any cuts to Social Security.”
The New York Times read: “President Obama’s new budget has opened a debate over what it means to be a progressive Democrat in an age of austerity and defines him as a president willing to take on the two pillars of his party—Medicare and Social Security—created by Democratic presidents.”
A.F.L.-C.I.O. president, Richard Trumka, called the proposed budget changes “wrong and indefensible.” An email from Representative Alan Grayson, a liberal from Florida, was headlined, “President’s Budget Breaks Promise to seniors.”
With tax hikes in mind, Investors’ Business Daily explains why Obama’s budget is actually worse than everyone thinks:
• Vastly exaggerates spending cuts. The press has widely reported that Obama’s budget would cut spending a total of $1.2 trillion over the next decade. But Obama’s own budget shows that he actually cuts spending a mere $186 billion. Obama inflates his claimed savings by first canceling the automatic sequester spending cuts he previously signed into law, then reclaiming them as new savings, and by adding in cuts in interest payments on the debt.
• Relies almost entirely on tax hikes. Obama’s budget shows his plan would increase revenues by $1.14 trillion over the next decade. That means his budget proposes $6 in new taxes for every $1 in spending cuts.
• Cuts the deficit less than claimed. ”My budget will reduce our deficits by nearly another $2 trillion,” Obama said Wednesday. But his budget shows total deficit reduction over the next decade would be just $1.4 trillion. Plus, deficits start rising again after 2018.
Although the White House claims that this budget “Cuts the deficit in a balanced way,” many disagree on both sides of the aisle.
Looking at history, no one will forget that as recently as 2008, the United States debt was 40.5% of the U.S. economy. President Obama has nearly doubled that!
Representative Paul Ryan reacted to the proposed budget: “I don’t know if I would say he cracked the door on entitlement reform. He has proposed to change a statistic, which saves money. That is really not entitlement reform.”
We must do everything we can to make sure that the proposed President Obama budget is voted down!
The Wall Street Journal continues: “In return for the Social Security savings, Mr. Obama is still insisting that Republicans accept most of his tax increases totaling $1.1 trillion over 10 years. This budget is said to be a ‘balanced approach’ with $2 of spending cuts for every $1 of new taxes, but over the next five years federal spending would actually rise by $680 billion. So he is really referring to imaginary ‘cuts’ off of anticipated future spending increases. He also isn't counting the estimated $1 trillion in tax increases over the next decade that is already part of ObamaCare.
“So nearly all the deficit reduction would come by raising taxes on the oil and gas industry, hedge-fund managers, smokers, millionaires—and savers with his new tax on the buildup of wealth inside 401(k) plans and IRAs above $3 million.”
Please urge your Congressmen to VOTE AGAINST the Obama Budget!
Say NO to new taxes!