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.
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AP
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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