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President Barack Obama is sending Congress a $3.73 trillion spending blueprint that pledges $1.1 trillion in deficit savings over the next decade through spending cuts and tax increases.Obama's new budget projects that the deficit for the current year will surge to an all-time high of $1.65 trillion. That reflects a sizable tax-cut agreement reached with Republicans in December. For 2012, the administration sees the imbalance declining to $1.1 trillion, giving the country a record four straight years of $1 trillion-plus deficits.
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By: ??? on 2/14/2011 12:31PM
He's going to continue to rob the poor and let the rich get richer without paying their taxes,what a president.He damn sure won't be getting my vote next year black people wake up.
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By: twinkie35 on 2/14/2011 1:08PM
It seems President Obama only picks on the Poor and the Powerless. I wish he can show the some results against the powerful.
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By: Casey on 2/14/2011 2:12PM
He's a politician, plain and simple... regardless of what he wants to call himself or how he packages it.
I mean did we honestly think he was going to be different? Did we honestly think he truly had the interest of the American people in mind?
Just like any other politician, his first duty is to his own pocket, then the pockets of those who keep them in office (lobbyists, corporations, special interests, etc.).
I hope we learned our lesson, America...
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By: paul on 2/14/2011 4:24PM
News Flash:
The rich pay more in taxes in this country. A LOT MORE. It's simply ignorant to say the tax breaks for the rich end up with rich people paying less than the middle class. These "tax breaks" are an attempt to lower the burden just enough to keep business from caving under the pressure of carrying the nation.
The top 1% of earners pay 40% of this nation's income tax.
The top 10% of the earners pay over 70%.
Thank you, top 10% for paying WAY more than your fair share and allowing the rest of us to live off of YOUR earnings.
The bottom 50% of earners pay less than 3% of the federal taxes. That's right - the bottom HALF of earners (people who actually work) pay ALMOST NOTHING.
There's a simple reason lobbyists and corporations have so much pull in American politics: They're the ones who are paying the bills. If you want to put an end to lobbyists and the evil corporate America telling the politicians how to spend the money, it's easy - start paying your fair share.
source:
http://www.heritage.org/budgetchartbook/top10-percent-income-earners
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By: bugs hunter on 2/14/2011 9:30PM
@ paul...
who do you think you're fooling with those deceptive and misleading statistics from one of the most heneious conservative propaganda rag to be found?
Let's say a hard working, self-employed street vendor makes about 25,000, and pays 25%,(6,250) in taxes taking home about 18,750 after taxes. Just enough to survive and feed his family!
Then, we have let's say a lawyer robbing clients for half their claims damn near, makes 450,000 and hopefully pays the government 25%,(112,500) of his earnings; the crooked lawyer stills enjoys a whopping 337,500 in take home pay!!!!!!!! Sure he paid more in taxes because he earned more and is able to exploit more in a capitalist culture that rewards the rich and punish the poor with usery fees high interests, a wealthy class that pollutes more and can monopolize the poor and the have-less!!!!!! Isay take 50,000 from that cheating lawyer, he's still doing quite well, and don't have to worry about late fees!!Skin him back!!!!!
When common sense sleeps, monsterous lies take over, paul; wake up!!
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By: paul on 2/15/2011 10:31AM
Bugsy,
Your example falls apart right away. At $25K, the vendor paid only 15% in 2010, and the lawyer paid 35%. And you can bet that vendor got a tax return, subsidized housing, and subsidized health care that added up to a lot more than the $3,750 he paid in. He should thank that cheating lawyer for carrying him.
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