Obama's Budget: Almost $1 Trillion in New Taxes Over Next 10 yrs, Starting 2011

[Slingin Sammy 33]

Originally Posted by dmek25

isn't this exactly what he said he would do?

Class warfare usually works when the class being catered to (low-middle income) outnumbers the class being punished (the "evil" rich). Unfortunately while this wins elections, it puts the country further behind the eight-ball. Government spending on social programs and liberal pet-projects never stimulates the economy it only hurts and either extends a recession/depression or increases the debt for future generations.

Most of the folks making over $ 250K are either small business owners, doctors/lawyers, or business professionals. The effect of increasing taxes on them will cause an increase in the cost of their goods/services which will effect everyone, especially the low-middle income folks. A dinner out that used to be $ 40 that increases to $ 44, a home reapir that increases from $ 1,000 to $1,100, etc. hurts a family making $ 80K a lot more than a family making $ 180K.

Also the middle income folks who are saving in their 401Ks and IRAs own stock in the energy companies and other "evil" corporations. Increase taxes on these corporations and profits/dividends shrink, hurting everyone who owns the stock.

EDIT: More good news Estimated Budget Totals for 2008-2010 Show Government Public Debt Rise 63 Percent - First 100 Days of Presidency - Politics FOXNews.com

Can someone tell me why any of this is good policy?