Daily Archives: February 1, 2010

Obama budget would impose host of tax increases

By Bob L. The way I see it.View Image
This all sounds like a Trojan horse to me full of pay back taxes like a lot of his stimulus programs which is an other name for a Government loan, and in Obama’s eye, it is an income which you have to claim on your taxes at the end of the year.

By STEPHEN OHLEMACHER, Associated Press Writer

WASHINGTON – While President Barack Obama is proposing to cut some taxes for companies that hire workers, his budget would raise a host of other taxes on businesses and wealthy individuals.

Obama’s budget would extend his signature Making Work Pay tax credit — $400 for individuals, $800 for a couple filing jointly — through 2011. The administration released the budget Monday.

But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing Bush-era tax cuts for them. Obama would extend tax cuts enacted under former President George W. Bush for families and individuals making less. Continue reading

Categories: America, Democrats, government, money, people, politics, taxes | Tags: , , | Leave a comment

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