President Proposing Tax Hikes

WASHINGTON — Seeking an elusive middle ground, President Barack Obama is proposing a 2014 budget that embraces tax increases abhorred by Republicans as well as reductions, loathed by liberals, in the growth of Social Security and other benefit programs.

The plan, if ever enacted, could touch almost all Americans.  The rich would see tax increases, the poor and the elderly would get smaller annual increases in their benefits, and middle income taxpayers would slip into higher tax brackets despite Obama’s repeated vows not to add to the tax burden of the middle class.  His proposed changes, once phased in, would mean a cut in Social Security benefits of nearly $1,000 a year for an average 85-year-old, smaller cuts for younger retirees.

Obama proposed much the same without success to House Speaker John Boehner in December. The response Friday was dismissive from Republicans and hostile from liberals, labor and advocates for the elderly.

But the proposal aims to tackle worrisome deficits that are adding to the national debt and placing a long-term burden on the nation, prompting praise from independent deficit hawks.  Obama’s budget also proposes new spending for public works projects, pre-school education and for job and benefit assistance for veterans.

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One comment on “President Proposing Tax Hikes

  1. Obama is the typical tax and spend demo-rat!
    I have a better plan for balancing the budget.
    How about starting with stopping ALL foreign aid to countries who hate us and call us the “great satan”.
    Then we can get rid of the federal EPA,give that power back to the states.
    Ease regulations so that companies can bring jobs BACK to America where they belong.
    Next get rid of the IRS.Our tax code is a joke and there are IRS agents who don’t even understand the tax code most of the time.Time for the Fair Tax.
    Most importantly,open up more land in THIS country for oil drilling.
    Imagine,if we drilled for oil more in this country,we would not have to get ANY oil off of towelheads who want us dead….and we would be paying about $1.00 a gallon for gasoline instead of $3.65(as of today in Pittsburgh).
    If someone has a better plan than that,I’m listening.

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