Conservative Life
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Obama: $1 TRILLION in New Taxes!

2 posters

Go down

Obama: $1 TRILLION in New Taxes! Empty Obama: $1 TRILLION in New Taxes!

Post by Auschlander88 Thu Feb 26, 2009 4:01 pm

Obama wants all your money.

http://blogs.abcnews.com/politicalpunch/2009/02/obamas-budget-a.html

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

February 26, 2009 12:00 PM

President Obama's budget proposes $989 billion in new taxes over the course of the next 10 years, starting fiscal year 2011, most of which are tax increases on individuals.

1) On people making more than $250,000.

$338 billion - Bush tax cuts expire
$179 billlion - eliminate itemized deduction
$118 billion - capital gains tax hike

Total: $636 billion/10 years

2) Businesses:

$17 billion - Reinstate Superfund taxes
$24 billion - tax carried-interest as income
$5 billion - codify "economic substance doctrine"
$61 billion - repeal LIFO
$210 billion - international enforcement, reform deferral, other tax reform
$4 billion - information reporting for rental payments
$5.3 billion - excise tax on Gulf of Mexico oil and gas
$3.4 billion - repeal expensing of tangible drilling costs
$62 million - repeal deduction for tertiary injectants
$49 million - repeal passive loss exception for working interests in oil and natural gas properties
$13 billion - repeal manufacturing tax deduction for oil and natural gas companies
$1 billion - increase to 7 years geological and geophysical amortization period for independent producers
$882 million - eliminate advanced earned income tax credit

Total: $353 billion/10 years




FUCK OBAMA. We need to resist everything this scum sucking pig does! Evil or Very Mad
Auschlander88
Auschlander88
Infantry
Infantry

Number of posts : 83
Registration date : 2009-02-16

Back to top Go down

Obama: $1 TRILLION in New Taxes! Empty Re: Obama: $1 TRILLION in New Taxes!

Post by NonConformist Thu Feb 26, 2009 4:33 pm

And our gas and energy prices will be fucking astronomical!!!
NonConformist
NonConformist
Ranger Qualified
Ranger Qualified

Number of posts : 515
Locale : S. Florida
Registration date : 2008-02-26

http://www.conservativecore.com

Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum