WASHINGTON— President Barack Obama’s budget plan would increase taxes by $1 trillion over the next decade, relying on many proposals that have been repeatedly rejected by Congress.
Obama says his plan includes $580 billion in tax increases to help reduce government borrowing. But the tax hikes don’t stop there. The proposal would also impose an additional $400 billion in tax increases. Much of it would be used to pay for more spending.
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Read More at OfficialWire . By Steven Ohlemacher.
Photo Credit: Geoff Livingston (Creative Commons)