Shocker… Obama’s “Jobs” Plan Calls for $400 Billion in Tax Hikes

In August 2009 President Obama was very clear that you shouldn’t raise taxes during a recession.

But that was in 2009…
Now President Barack Obama is proposing tax hikes to help pay for his latest $447 Billion stimulus plan.
Reuters reported:

President Barack Obama is proposing a series of tax increases, mainly on the wealthy, to help cover the cost of a $447 billion economic stimulus proposal, budget chief Jack Lew said on Monday.

Lew said Obama’s plan would raise $400 billion over 10 years by placing new limits on itemized deductions for individuals making more than $200,000 a year and families earning more than $250,000.

The rest of the $467 billion in savings would come from raising a smattering of other taxes, including those on corporate jet owners and the oil and gas industry.

Business Insider today revealed that Barack Obama plans on paying for the plan with $400 billion in tax increases.

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  • http://www.edmartinforcongress.com Tom63010

    This isn’t a proposal to create jobs it is a proposal to create campaign talking points.

  • Redwine

    The WH also says that the Dictator-in-Chief threatens to use the Executive Order in an unconstitutional move to go around Congress to pass this newest slush fund scheme.

    http://www.rollcall.com/issues/57_26/adminsitration-willing-to-go-it-alone-208598-1.html?pos=hftxt

    http://weaselzippers.us/2011/09/12/white-house-aide-say-obama-might-move-his-agenda-forward-using-executive-orders/#comment-301600

  • vamoose

    So the tax on millionaires begins with those making $200,000. Cute.

  • mmm

    He’s calling for tax hikes because our country is bankrupt and so are our creditors. The ponzi scheme cannot last.

  • Estragon

    Remember Jim Geraghty from March 2008: “All of Barack Obama’s statements come with an expiration date – ALL of them.”

    But this proposal is virtually identical to the stimulus bill – even WaPo compared the speeches and found many identical phrases, as well as policies. It’s even more spending: ARRA spent $800 billion over two years, AJA proposes to spend $450 billion in one year.

    The remarkable thing is that Obama is going to even pretend to pay for any of it. I thought he was going to pass it all to the Super-Duper Committee to cut on top of their actual mandate, as if he were the absolute monarch issuing a decree.

  • exceller

    forget about the 10 year nonsense, if you want to spend $447 billion this year and next, then make the cuts or raise the taxes to pay for it NOW. not in 10 years. let’s get out of this fiscal fantasyland.

  • Edouard

    #1 hits it on the nose.

    Obama is saying to those of us who already pay through the nose to try to create jobs and wealth: Choke on it, America.

    Under this tragedy of a president, this second Stimulus is just another gigantic pile of bricks on top of an already far-overstacked load, laden with goodies for his pet constituent groups to win their street activism and their votes.

    Under this tyrant, it’s full steam ahead toward backbreaking socialism, & toward the permanent cementing of an entitlement state that is already barely struggling to stand under the monstrous weight of this behemoth of a wealth-wasting government.

  • Scott

    So, Obama has proven to be such a masterful businessman, we should all just reach into our wallets and our children’s future earnings for what exactly??? More giveaway programs like Solyndra? More shovel ready jobs? More cash for clunkers? Pigford II? The truth is that Obama and the rest of the idiot class in Washington don’t know the first thing about allocating capital…

  • JaneLovesJesus

    Operative word here being “YOU”. YOU don’t raise taxes during a recession. Obama, on the other hand, DOES.

  • Scott

    They take money from productive persons and businesses. Run it through the worlds largest beureacracy. Pay themselves first, of course. Then, they send the remainder back into the economy via thousands of incoherent vote-buying schemes…It is the very definition of wealth destruction.

  • MrGoodWench

    Lew said Obama’s plan would raise $400 billion over 10 years by placing new limits on itemized deductions for individuals making more than $200,000 a year and families earning more than $250,000.
    +++++++
    So small business owners will be punched in the gut again and this is how he wants to create jobs ?
    Didn’t Obama’s blowjobs commission tell him how small businesses file taxes as ?
    Does the doofus know that $ 200,000/$ 250,000 erarners are NOT millionaires and billionaires ?

  • DANEgerus

    “a smattering of other taxes”? “smattering”? 1/2Trillion tax increase would represent a 25% increase in taxes, the LARGEST tax increase in American history.

  • #1AMERICAN

    is this the sam POS that said the entire bill is already paid for and won’t raise the debt?????

  • WTFPRESIDENT

    What doesn’t he understand about people making $200 thousand a year are NOT MILLIONAIRES??? Does he really believe this is going to help small businesses??

    He is a joke, and our country is paying

    WAKE UP AMERICA

  • MrGoodWench

    The rest of the $467 billion in savings would come from raising a smattering of other taxes, including those on corporate jet owners and the oil and gas industry.
    +++++++
    So Immelt and Buffet will pay ALL the taxes they owe ?
    How about Soros , will he payup and STOP playing shell games by calling his criminal enterprises
    ” 501-C ” for tax purposes ?
    If the islamomarxist wants to really “save” some money, lets start by NOT FUNDING PETROBRAS, MUSLIM BROTHERHOOD, MOSKS AROUND THE WORLD, TALIBAN, PAKISTAN , UNION GOONS ,
    and make companies like Google stop stashing their profits overseas .

  • Ohio Granny

    Goodie goodi. Warren Buffet can absorb this, right?, and he was complaining about not giving his fair share.

    But the truth is, Obie took such heat for not having the plan written that he stayed up all night and put crayon to paper and this is the only thing he could come up with.

    Tax the rich. Simple easy and it as a campaign slogan, he’ll get the zombie vote.

  • Chrissy B

    This is a plan to finish destroying the middle class, shutter what few small businesses remain, and reward his union buddies. And my family wonders why I give the tv the middle finger everytime Teh Won is on.

  • Auntie Em

    Obama does NOT get to have any more of my hard earned money until the Solyndra Scandal is fully investigated by an independent agency. My parents, grandparents, and ancestors risked all, gave all, fought for, and built this country with blood, sweat and tears and I will not let some foreign tin-pot Manchurian malignant liar dishonor their legacy or destro the safety of this great country for future generations.

    I will not have my children living in an oppressed third-world country because of this yahoo.

  • MAJ Mike

    SSDD (SameSh!tDifferentDay). How is this proposal any different from previous plans?

    To quote Herman Cain, “We waited 30 months for this!?!”

  • billsv

    Mr Goodwrench, Soros does not pay taxes on his carried interest (the x% ususally 20% of profits) he makes from his offfshore funds. The law back when he started made an exception for US citizens such they only paid those taxes when they brought the money back to the US. Meanwhile he compunds his money tax free as he reinvests it is his offfshore funds. It will make no difference when he drops other investors other than his family. He does not want transparancy when the new SEC laws come into affect. Those are tax laws Congress should change retroactively.

  • MrGoodWench

    Chrissy B commented:
    .. And my family wonders why I give the tv the middle finger everytime Teh Won is on.
    +++
    Now we know why he DID NOT tell us HOW he plans to pay for his latest reparations+goonion bailout , when he read his speech last week .
    Imagine how many one finger salutes CONGRESSMEMBERS would have thrown at him when he had read ” I WANNA RAISE YOUR TAXES BEEAATCHEZZ”
    No wonder he wanted the ” bill” to pass ” right away “

  • Redwine

    OT – But more dictatorial regulations from the evil EPA: R-CALF says EPA declares hay a pollutant: http://www.cattlenetwork.com/cattle-news/R-CALF-says-EPA-declares-hay-a-pollutant-128915148.html

    The regime needs to be dismantled – fast.

  • Mark

    I can’t wait for this race pimp to go back to work for ACORN.

  • czekmark

    The democrats are very consistent; they are ALWAYS in favor of raising taxs, cutting defense spending and raising entitlement spending. It’s the only game they know and they play it well.

  • Patty

    SERIOUSLY, what is WRONG with this man! He has pushed taxes on the Oil companies and the rich.

    If Congress doesn’t pass it, he will. It is coming. Executive Power, is this a Threat from Obama and the Goonions…Rush’s new word. Goons and Unions.

  • Patty

    Here’s a plan. HIKE THE VOTE….Vote this guy out of office then we can get to work.

  • http://deleted RedBeard

    The parable of The Scorpion and the Frog comes to mind every time someone tries to understand why Obama does such outrageously bad things. It’s just his nature.

  • JustJP

    Didn’t O’blivious say that his plan was already payed for?

  • Blacque Jacques Shellacque

    Tax and spend, tax and spend.

    With Democrats, it’s the same old refrain, time and time again.

  • RL

    Time to wake up to the blood sucking, tax chugging chigger…

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  • Espresso Logic – The 6th Sense

    The POTUS POS Obunghole can go take a flying f*ck on a rolling donut.

  • west1890

    We’re watching Obama’s final knife through the heart of the Republic. If Repubs don’t pass this piece of communist crap as submitted he’s going to demonize us as wanting to starve minorities (and you know which one), kill minority babies, that we’re unpatriotic and don’t deserve to live in the U.S. Union goons and roaming minority gangs will take whatever they want from whomever they want to take it from. He’s not only stolen our life savings, now he’s going to grab the change in our pockets and the pennies in our kid’s piggy banks. If someone doesn’t get this criminal out of office ASAP- as a Republic we are finished.

  • Valerie

    NPR is reporting that this is a package with tax cuts, and the Republicans are rejecting it because of spending provisions.

    NPR is a primary source of information for many people, and it is no more honest about the Tea Parties or the Republican positions than the New York Times.

  • J-Ho

    “oil and gas industry”??? When taxes on the oil and gas industry increase, just who the hell does he think actually pay those taxes?!?! The companies? Hell no! They pass them along to the consumer, as do all businesses. What a complete imbecile!!

  • cv

    This is not a serious proposal. It is DOA!

  • Jerry C

    Usurper-in-Thief Lying POS

    My God! Where the hell is our military to defend the Constitution? Same as our Congress…absent. Spend us into debt. Tax us to death. Demonrat operandi.

  • ahem

    As long as even one person is still in the middle class, Obama’s job is not finished.

    Murder the Kulaks!

  • MrGoodWench

    billsv commented:
    …. Those are tax laws Congress should change retroactively.
    +++++
    Huh ?What does Congress have to do with laws ?
    Its not they are lawmakers or something 😀
    Maybe in the old days that was something the Congress was supposed to do,
    but now in the 21st century, laws are made in WH and decreed by fatwas..I mean …EOs.
    The Congress exists to listen to speeches of TOTUS

  • Sparky

    The first clue that this jobs bill stunk was the multitude of times Obama demanded that Congress pass it immediately.

    Why anyone would trust Obama or President Valerie Jarrett is beyond me.

    So as a small business owner you get a payroll tax cut, BUT, you get shanked on the other hand when you pay yourself a good wage.

    In revolt, I would reduce my income for the next 13 months and send a big middle finger to Obama!

  • befuddled

    Obama was elected by a bunch of morons to steer the Titanic. Dissatisfied with that task, he decides he would rather be the one creating the icebergs.

  • Militant Conservative

    EO for taxes exceeds the WH authority.

    He will be removed IF Obama tried to govern

    by fiat. That’s a dictator.

    Powder is dry

  • http://biggovernment gee!

    #17 bing

  • Jayne on the left coast

    Where is $200,00 to 250,00 being wealthy? That is a small business qwners.

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  • WillofLa

    Ten years, ten years! Everything that has ten years attached to it is bogus! Ten years is meaningless when it comes to the here and now, because what taxes are they going to pay NOW? Are they going to start out very small at first, then in ten years they would be paying the full tax? Or what?

    Then Obama comes out today and so damn errogantly declares, “You wanted something written, then here it is!” and he slams the damn thing down like some piece of meat. He acts like he shouldn’t have to provide a bill. He acts like he shouldn’t have to provide what he says, on paper, that you should just pass the bill based on his word, and then the Democrats do what? Make it up as they go along? If you catch them doing something they shouldn’t be doing, they are going to show you what on paper where you can get the details?

    Obama acts like he is above writing a bill for something he said the other night. He believes that his word is all you need, and just look at this, he read scriptures from the Holy Bible at the 9-11 memorial in Penn., yesterday didn’t he? That is supposed to be good enough?

    The Republican’s had better get themselves ready because Obama is going to use any delay as a weapon and accuse the Republican’s of not wanting the American people to be able to go back to work. I hope everyone knows that it’s the government and not the businesses that are holding back our economy.

  • chuck in st paul

    So we’ll take 467 Billion OUT of the economy in taxes and then we’ll put 467 Billion back INTO the economy and that’ll create jobs. I must have missed somethiing here.

  • Greg

    The discussion on raising the debt ceiling just 6 weeks ago should have defined what was available to the govt to back out of this recession. Won WTF simply does not comprehend…………………………………..sorry the inability to communicate the total absence of budget understanding by WTF is frustrating. Time to dump him and start over

  • ohiochili

    Like Rush said, how do we know there was a bill under there? All we saw were props and a stack of paper with a cover sheet that said it was a jobs bill.

    This is nothing but son of stimulus. They probably are in the process now of cutting and pasting segments from the original stimulus boondoggle onto the blank pages of the new boondoggle jobs bill the messiah held in his mitt today.

    I feel as if I have been watching a giant Democratic Party stage show. Lousy acting and the tickets have been way too expensive.

  • Nana

    Hope and change for you all! More taxes…

  • http://none tommy mc donnell

    they say they want to raise taxes to make the stimulus “deficit neutral.” well it they raise taxes it won’t be deficit neutral for the american worker. the american workers will have to fork over anther half a trillion dollars of their hard earned income. people that are already struggleing to make ends meet. and for what, to fund more green companies that go out of business or move to china after they suck up the american workers money. it seems like every leftist is being turned into a multi-millioniare by this president with the income of the american worker. the biggest cheerleaders for this fleecing of the american worker will be the american union leaders.

  • Lily

    So the tax on millionaires begins with those making $200,000.

    Making thousandaires pay their ‘fair’ share.

  • gus

    this is FVCKING EASY. This FRAUD is seeking to spend ANOTHER HALF TRILLION.

    Mr Obama. Fvck you.

  • http://none tommy mc donnell

    remember you have to pass the bill to find out whats in it.

  • rbosque

    Yup, it’s really important that we pass more billions so that he can turn around and pay off his union friends and fund SEIU.

  • Andreas K.

    And it won’t be enough.

    How do I know?

    Look into the EU, look at our tax rates, then look at our deficits and national debts. It’s never going to work. It has been tried numerous times before and it has ALWAYS failed. Tax hikes only lead to even more spending. Which then leads to more tax hikes, which again lead to more spending. The amount of money is always lagging behind and in the end the hole will get bigger and bigger anyway.

    If Obama’s idea would work, why is Germany’s national debt rising?

    By the way, that would be 40 billion USD per year. That’s surely going to make a difference with the current US national debt. Yep. Totally. NOT.

  • tpartynitwit

    That’s it, I’m not going to create one more job, however much more money I’d make! I’ve had it!

  • annie p

    There are about 540 American billionaires listed on Forbes’ list of international billionaires. So each of them gives the government a billion or so, maybe two, problem solved. Makes as much sense as this jackass Obama!

  • MamaGrizzly

    President Flash Mob!!! Yahoo!

    Hey, does everyone know that the Moslems have ALWAYS said that if they can disable the US economically, they can reclaim Israel for the Moslems?

    Even Bin Laden blabbed about this all the time.

    Just sayin’.

  • Deborah

    This bill might be DOA to the senate, but WH is already saying that Barky will get most of it done through executive order.
    Obama is bored with being president (and Moochele is not liking being first lady), so he doesn’t really care if he is reelected. Although insiders say he will run a brutal campaign based on race. Soros and the unions want something back on their investment.
    I think I will get the old gun out that I haven’t looked at in 20 years and have some maintenance done. I believe the riots will make the 60s look like Howdy Dowdy time.