Obama Budget Proposal - Is It A Re-election Trick

I haven't read his budget yet. But it really is more of a wish list than anything since the real budget would have to come from the House. The tax increases aren't going to fly. I can tell you that one right now. There will actually be three budgets. One in the House, one in the Senate and of course the President just released his. If it does come up for a vote, the Republicans will probably say no. But don't be surprised if a few Democrats aren't too happy with it either. Notice I said if. The big at the moment would be to get Harry Reid to actually put up the Budget for a vote. He is so afraid of losing that practically nothing is clearing his desk unless he is absolutely sure it will pass. That's what happened to the last three budgets they stalled out in the Senate because Harry Reid refused to bring them up for a vote.

The idea is that the 30% minimum for millionaires would actually close up the loopholes in the system for those making more than a million dollars. So actually, when we talk about loopholes, this will basically get rid of the vast majority of them. In terms of the deficit: We already have a huge deficit, so we can't very well expect the President to come up with a plan which completely eradicates this. It's just not possible. By closing the loopholes, we'll come a bit closer, but we'll need years to break even, and it's not even clear if it's really economically worthwhile to have a surplus (in many ways, a deficit of up to 60% of GDP is considered good for the economy.

This would greatly impact america's small businesses which supply the majority of jobs in the country.. many small businesses file as individuals..

All I have heard from the Presdent is that we have to have the millionairs and billionars pay their fair share. Just like in the 2008 Campaign he told us he would only raise taxes on the very wealthy, I mean on those making over a million dollars, What I meant was the top 1%, I am misunderstood it will be on the top 5%. Now in his budget he is proposing a tax on those making over $250,000 a far cry from a million dollar income. He keeps telling us that it is time for the "Fat Cats"(Hate Speech) to pay their fair share. http://www.whitehouse.gov/omb/overview I would point out as I have done in may other postings the Income Tax was sold to the American People as a tax on only the very rich. We already have The Alternative Minimum Tax and if Congress doesn't change it every year more and more people are covered by it. Again this was to be a tax on only the very rich. How long will it be before the 30% minimum tax will be on those making $50,000 or more? (most of those who make less than $50,000 pay little or no income tax and many receive more money in a refund than is taken out every paycheck)

I believe he purposely submitted a budget that will never pass, just so he can continue his lie about the "do nothing Congress". I mean, he's maintained for years that the lack of a budget is the fault of the Republicans in the House... but he should have the 50 votes it takes to pass a budget without a single Republican vote.

So what loopholes should they close? Some of them have t o do with advancing businesses. And besides why do the rich have to pay all your taxes? From what I hear that there is a large percentage of people who pay no taxers at all and they are not all the destitute poor. There are deductions that we in Canada do not pay and they would make sure that the middle class who do not pay taxes do - for instance, the income tax deduction on the interest charged on mortgage payments. As for the rich, if they all or most got that way because they were the big bosses in organized crime then I would say tax them happy. It is not just a re-election trick, Obama had always had this idea that those who are wealthy should give their money away to the poor by force not willingly. So he wants to take the credit for helping the poor. I believe giving should be voluntary - the church does a good job of that = and at least with churches, they decide what poor to give to - certainly not the kind who is lazy and does not want to help him or herself or the one who just has babies without marriage so they can get more money . As for the loopholes, they have to be closed for everybody, so you will hear a lot of people complaining.

Of course it's a reelection trick, but what would you expect. He is running for a second term as President, and not just against the Republican Presidential candidate, but the whole Republican party. Since the main stream media is, for the most part, liberal, of course they will help him in any way they can. It's up to those opposed to Obama to point out facts that show him in a negative light.

I believe you alright when you say that Congress will or many never ever vote on this and he will blame the republicans for not voting on it because of the taxes on the rich. I have heard that and heard it.

I think all Americans should pay some tax. The flat tax may be a good idea. When we have half the population paying no tax, it is much easier for them to vote themselves more goodies (which increases spending) without feeling any of the pain. I also think there should be no mandatory withholding from paychecks. When people never see that money, they don't even think of it as part of the money they earned, but as money they might get back in a refund. They don't know what it's like to really see how much tax you are paying and have to write that check to the IRS. They only have to come up with the difference if their tax turns out to be more than what was withheld. That's less painful that writing a check for thousands of dollars on April 15.