Monday, February 01, 2010

New Taxes in the Trillions: Obama's Budget

This President is continuing his relentless attack on the productive private sector while enriching government. Consciously or not, he is proceeding full speed ahead towards destroying America's economic leadership.

In all, Obama would increase taxes on some businesses and wealthy individuals by a total of about $1.4 trillion over the next decade, while cutting taxes for middle-class workers and other businesses by about $330 billion. The bottom line: Tax receipts would increase by about $1.1 trillion over the next decade.