Obama First To Put Tax Increases In The Budget Table

Obama’s budget plan adds few details to a year-old framework. Meanwhile, the issue of how to tax businesses that pay through their owners’ individual returns still bedevils policy makers. For the.

But President Barack Obama is about to put them on the table – at least a modest version that he had pushed before and then rested on the shelf. Most economists and budget analysts say a comprehensive mix of spending cuts and tax increases is essential to any viable deficit-reduction plan.

The tax increases Obama proposes for 2014 could impact hundreds of thousands of independent and small businesses. According to a 2010 report from the congressional Joint Committee on Taxation (JCT) Obama’s earlier proposal to raise taxes on those making more than $250,000 per year would have impacted 50 percent of all independent business income.

Abstract: President Obama has proposed raising the capital gains tax rate to generate billions in new revenues for the federal government. However, according to data included in the President’s.

Under President Obama’s leadership, we have made substantial progress in making the tax code fairer for working families. Under President Obama: A typical family making $50,000 a year received tax cuts totaling $3,600 in President Obama’s first term – more if they were putting a child through college.

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And now we see its first fruit: Each side has finally had to show its cards. Now the bad news. The cards laid down by the White House are quite unimpressive. The 2014 budget is tax-and-spend. True,

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President Obama released his fiscal year 2015 budget yesterday. Overall, the president proposes to increase revenue by $1.759 trillion over ten years. This new revenue comes in the form of a couple large tax changes, numerous small tax changes, and new fees (which we don’t discuss in this post).

(CNSNews.com) – Barack Obama was the first president of the United States to spend more on "means-tested entitlements"-AKA welfare-than on national defense, according to data published by his own Office of Management and Budget. Historical tables that the OMB posted on the Obama White House website, include annual totals for both "national defense" spending and "means-tested.

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