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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (69955)	2/27/2009 12:48:08 AM
From: Sully-	Read Replies (1) \| Respond to of 90947

Over $1 Trillion in Tax Increases Jonathan Adler The Corner Jake Tapper details the $989 billion in tax increases called for in the Obama Administration's new budget. But Tapper's tabulation understates the increased tax burden of Obama's proposed budget, as it does not account for the proposed cap-and-trade program, which will require businesses to spend another $646 billion between 2012 and 2019. So, all told, the budget actually calls for approximately $1.5 trillion in tax increases over the next ten years. corner.nationalreview.com

To: Sully- who wrote (69955)	2/27/2009 12:53:37 AM
From: Sully-	1 Recommendation Read Replies (1) \| Respond to of 90947

Re: The Hidden Climate Tax Iain Murray The Corner According to the budget preview document, the revenues from the hidden climate tax will be split between $15bn for alternative energy pork and about $52 billion per year to help pay for the Making Work Pay tax cut/welfare check of $800 for "95 percent of all American workers." How much will cap and trade cost households in increased energy costs? Well, we know from a CBO study last year that a 15 percent reduction in emissions from 1998 levels would cost each household at least $660. That target is about 25 percent more stringent than the budget target, which is simply a return to 1990 emission levels by 2020 (far less than environmentalists demand). So we can apply simple arithmetic to estimate that the current budget cap and trade program will cost each income quintile $510, $660, $870, $1125 and $1635 (in 2006 dollars, slightly more in nominal values) respectively. So the tax cut for 95 percent of working Amercians is going to be significantly offset by hiking energy prices in order to pay for it in the first place. Sheesh. Talk about a shell game. corner.nationalreview.com

To: Sully- who wrote (69955)	2/27/2009 1:06:46 AM
From: Sully-	Read Replies (1) \| Respond to of 90947

Boehner Budget Reax Rich Lowry The Corner From presser earlier: <<< REP. JOHN BOEHNER: On Tuesday the president called on Congress to make fiscal responsibility a priority, and Republicans agree. That's why it's ironic that on the very next day House Democrats would pass a $410 billion appropriation bill, 8 percent above last year's levels, and including some 9,000 earmarks. I think we just ought to admit it. We're broke, and we can't continue to pile debt on the backs of our kids and grandkids. The president campaigned against wasteful spending, and he ought to veto this bill. As you know the president sent his budget to Congress today. Middle-class families are making sacrifices and cutting their expenses. It's time for Washington to do the same. We need to do that by stopping out-of-control federal spending. The American people know that we can't tax and spend our way to prosperity, and it's just the formula that appears the president's budget is relying on. The era — the era of big government is back, and Democrats are asking you to pay for it. The administration's plan — I think it's a job killer, plain and simple. And it raises taxes on all Americans while we're in the middle of a recession. If you look at small businesses, family farms, middle-class families, retirees, charities, everyone with a 401(k) and anyone who flips on a light switch is going to pay higher taxes under this plan. The government tried to raise taxes once before in a recession. It was in 1932. And all that did was make our recession a whole lot worse. Everyone agrees that all Americans ought to have access to affordable health insurance. But increasing taxes in the middle of an economic recession, especially on small businesses, is not the way to accomplish that goal. And so we've got real concerns about his plan on cap-and-trade. Let's just be honest and call it a carbon tax that will increase taxes on all Americans who drive a car, who have a job, who turn on a light switch, pure and simple. And if you look at this whole budget plan, they use this carbon tax as a way to fund all of their big government ideas. >>> corner.nationalreview.com