Econ Comments & Analysis
Forbes | President Obama's Budget Would Put A 67% Marginal Tax Rate On The Economy
President Obama sent his budget proposal to Congress yesterday and he is asking Congress for an increase of $74 billion in discretionary spending above the sequester level that is the current legal baseline for spending. That would be a seven percent increase above current levels. While seven percent sounds like a very large increase, the $74 billion might not sound all that large. However, it is only the tip of the iceberg.
Wall Street Journal | Taxes Unlimited
President Obama ’s budget is remarkable in many ways (see above), but no more than in its obsession with higher taxes. The guy won’t give up. He’s the Terminator of tax collection, and not in a good way.
Forbes | Tax Aspects Of The President's FY2016 Budget
Earlier today, the President wrapped up one hell of a Quicken session and published the FY2016 budget he will soon present to a largely disapproving Congress. Included within the budget were a host of proposed tax changes: some that we’ve seen before, others that we are seeing for the first time, but that the President forewarned were coming during his State of the Union address last week.
