WASHINGTON (CNNMoney.com) -- President Obama revealed a $3.8 trillion budget for 2011 on Monday that tries to balance two competing goals: continued government spending to boost the fragile economic recovery and controlling the nation's deficit.
The budget calls for $53 billion in tax cuts and $50 billion job-creating measures, including small-business tax cuts, as well as new investments in green technology and infrastructure programs for work on roads and bridges.
It will be interesting, to say the least, to see how the whole "tax small businesses and the 'rich' to cover the social programs" works. Even more interesting, though, was that this budget:
would make permanent tax cuts passed during the Bush administration for all except high-income households making more than $250,000 a year.
Now, $250,000 isn't exactly "high-income" in many areas of the country when taken as a household. Every year when Boston posts the "top paid public employees" there are many who make well into six figures - hardly the über-rich that they want you to think are taking the soaking. Class warfare is a losing proposition to begin with; even worse when many small businesses run by individuals get caught up in this tax hike...
I suppose we should be thankful that the big Ø only wants $0.8 Trillion more than GWB's last budget...
That is all.
6 comments:
Hmm, and remember how much the liberals screamed about GWB's fiscal irresponsibility?....
I wish I owned gold & silver, cuz inflations gonna be a bitch.
Just waitin' for the inflation...
Do you know what is in your wallet??
The Government!!
He's killing the Constellation program.
HE'S KILLING THE CONSTELLATION PROGRAM!!!
All of that development for a moon mission over the years? Wasted. NASA takes such a small portion of the federal budget, yet he's perfectly fine trying to push through an extremely expensive healthcare bill.
I am now very pissed.
Super Rich = Anyone who works and pays taxes.
I'm surprised it took this long to kill NASA. After all, the whole moon mission thing was the idea of that evil Republican John Fitzgerald Kennedy.
Oh wait.
I have my annual review this week. Why try to get a promotion when it might push me into O's forbidden zone of income?
Post a Comment