Obama Budget Seeks $1.1 Trillion in Tax Hikes
President would increase taxes on some businesses and wealthy individuals by a total of about $1.4 trillion over the next decade, while cutting taxes for workers and other businesses by about $330 billion.
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.
The budget proposal released Monday would extend Obama’s signature Making Work Pay tax credit — $400 for individuals, $800 for a couple filing jointly — through 2011. 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 tax cuts enacted under former President George W. Bush. Obama would extend Bush-era tax cuts for families and individuals making less.
Federal Government to Grow to 2.15 Million Employees in 2010
The Obama administration projects the number of employees on the government payroll will grow to 2.15 million this year, reportedly making it the largest federal workforce in modern history and fueling criticism over the size of government.
The Washington Times reported Wednesday that the bulk of the increase is on the civilian side, which is expected to grow by 153,000 workers in 2010.
The expansion means the workforce will top 2 million for the first time since President Clinton declared that “the era of big government is over,” according to the newspaper.
The expansion comes even as Obama calls for cutting the deficit and imposing a three-year freeze on some non-security spending.
Written By: Jake Tapper
President Obama veered off script – and away from the facts – when he spoke about the stimulus bill today in Nashua, NH.
“Now, if you hear some of the critics, they’ll say, well, the Recovery Act, I don’t know if that’s really worked, because we still have high unemployment,” the president said. “But what they fail to understand is that every economist, from the left and the right, has said, because of the Recovery Act, what we’ve started to see is at least a couple of million jobs that have either been created or would have been lost. The problem is, 7 million jobs were lost during the course of this recession.”
Um, it’s not true that “every economist” has said the Recovery Act has saved or created two million jobs.
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