Tax, Tax, and then Tax Some More: Obama's Continuing Goal

President Obama finally released his FY 2014 budget more than 2 months late -- breaking yet again the budget law. And almost $1 trillion in new tax increases. That's on top of the $618 billion in the "fiscal cliff" deal.

Part of what he is proposing:

- Limiting deductions for such things as mortgage interest and charitable giving to 28%
-Proposing many more government controls on IRAs and 401(k)s -- hurting those who have scrimped and saved to have a better retirement
-Increasing the death tax from 40% to 45% -- even though putting it at 40% was a compromise
-Increase the tobacco tax by almost 100%
-Almost $100 billion in new taxes on middle class investments and savings

This budget completely violates his campaign pledge to not increase taxes on individuals making less than $200,000 a year. Bigger government, more spending, more deficits, more taxes -- that is President Obama's plan for the U.S.A.

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Posted April 23, 2013
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