The president wants more from you by allowing the Bush tax cuts to expire, remove itemized deductions from your income tax form, and to raise capital gains (no doubt to further erode the US private sector). ($636 BILLION over 10 yrs)
He wants to slam the business sector with Superfund taxes, tax carried-interest as income, repealing FIFO, reporting on rental properties, an excise tax on Gulf of Mexico oil & gas, repealing of the allowance for drilling costs and manufacturing costs for oil and gas, eliminate the advanced Earned Income Tax Credit, and others. ($353 BILLION over 10 yrs).
That's $989 BILLION more that the president wants to take out of your pocket and put in his pocket and the pockets of his supporters.
Massachusetts Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2010
"These blueprints also dedicate new revenues from modestly increased statewide meals and hotel and motel room occupancy taxes to mitigate cuts in Local Aid; eliminate sales tax exemptions for sweetened beverages, candy and alcoholic beverages to protect our children and support public health programs; expand the Bottle Bill to promote and fund recycling programs and water and sewer rate relief; and update and consolidate motor vehicle registry fees to streamline service and strengthen our transportation system."But wait, there's more...
Taxes may rise to pay health care according to TS Timothy Geithner and National Economic Council Director Lawrence Summers this past Sunday. They are saying the President has not "ruled out" tax increases. So, keep your eyes pealed for this one.
The President does not count the State Children's Health Insurance Program (S-CHIP) tobacco tax increase from $32B to $71$ over 5 years, as a tax increase on people making under $250K per year (Politico - Josh Gerstein). Barry fails to note that 54% of smokers are poor (28%) or "near poor" (26%), with 18% "not poor" (Heritage Foundation). Well, unless the poor in America make over $250K per year, then I'd say Barry has some 'splainin' to do.
Let's not forget Cap and Trade (labeled Cap & Tax by conservative talk radio). There we find an additional $1.6 TRILLION according to the Heritage Foundation, by Loris and Lieberman.
I'm sure there are more that I've left out, such as locally increased fees for utilities, license plates, park access and for other services. All design to prove to average Americans that they cannot stay afloat without government holding them up.
The paradigm: Spend, Spend Spend, then Tax, Tax, Tax.