Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
President Obama's proposed tax hikes at odds with GOP rivals
WASHINGTON (AP) -- President Barack Obama proposed tax increases on wealthy individuals and some corporations Monday, setting the stage for an ideological battle that won't be resolved until after the November election - if then.
Obama's proposed tax hikes put him at odds with the Republican presidential hopefuls. They have all called for tax packages that would lower taxes but possibly add to the federal deficit.
Obama's 2013 budget proposal mixes tax cuts designed to improve the economy with long-term tax increases aimed at reducing the federal budget deficit.
The plan calls for a tax reform package that would increase revenue by $1.5 trillion over the next decade. Obama did not offer a detailed plan for tax reform. Instead, he proposed a series of changes to the current tax system and several principles for what comprehensive tax reform would look like.
<SNIP>
Full article here: http://hosted.ap.org/dynamic/stories/U/US_OBAMA_BUDGET_TAXES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-02-14-03-19-32
Obama's proposed tax hikes put him at odds with the Republican presidential hopefuls. They have all called for tax packages that would lower taxes but possibly add to the federal deficit.
Obama's 2013 budget proposal mixes tax cuts designed to improve the economy with long-term tax increases aimed at reducing the federal budget deficit.
The plan calls for a tax reform package that would increase revenue by $1.5 trillion over the next decade. Obama did not offer a detailed plan for tax reform. Instead, he proposed a series of changes to the current tax system and several principles for what comprehensive tax reform would look like.
<SNIP>
Full article here: http://hosted.ap.org/dynamic/stories/U/US_OBAMA_BUDGET_TAXES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-02-14-03-19-32