OBAMA PROPOSES TAX HIKES OF $6,461 PER PERSON

President Obama proposed $4 trillion federal budget would raise taxes $2.1 trillion, or $6,461 per person, but would spend $2.4 trillion more, drawing a “dead-in-the-water” reaction from members of Congress who will write the bill.
“The president is required by law to submit a budget proposal. It is a suggestion and a wish list, but the budget of Congress sets the outline of spending for the coming year,” said a statement released Monday by the House and Senate budget committees.
“We will work with our colleagues to make sure it is complete, on-time, and balanced within the next 10 years.”
The statement, from House Budget Committee Chairman Tom Price, R-Ga., and Senate Budget Committee Chairman Mike Enzi, R-Wyo., described Obama’s plan as “unsustainable” and “failed.”
But it was Senate Finance Committee Chairman Orrin Hatch, R-Utah, who unleashed on the president.
“The president’s budget is a retread of the same top-down redistributive policies that have failed to lift hard-working American families and promote a strong and healthy economy. A $4 trillion government spending spree propped up by massive new tax hikes, this budget blueprint shamelessly panders to the Democratic base and does nothing to put our nation back on a sound fiscal footing,” he said.
“Rather than creating a simpler, fairer, more competitive tax system it adds complexity and confusion. It lacks fiscal responsibility, not ever reaching a balance, and does nothing to reform the greatest drivers of our debt – Medicare, Medicaid, and Social Security.
“This budget is partisan, not practical. Even the White House has conceded it will be a nonstarter with Congress. It’s time for the president to move past political talking points and start working with Republicans and Democrats to find consensus on policies that will expand the economy, create more jobs and provide bigger paychecks and better opportunities for the American people.”
The joint statement by Price and Enzi noted the $4 trillion budget “includes a $2.4 trillion spending increase, a $2.1 trillion tax increase and adds $8.5 trillion to the national debt.”
“We are ready to move past the new normal of President Obama’s budget and in a new direction. We want to make government more efficient and accountable to hard-working taxpayers by lifting the regulatory burden on families and job creators, and by embracing the innovative spirit that dtrives American entrepreneurship and success.”
Obama was busy lobbying for his political goals.
In an email from info@BarackObama.com, he included a link for people to sign up as supporters of his Organizing for Action team, the successor to his 2012 campaign organization.
“The budget I’m presenting today lays out exactly what else we can do to keep our families strong – ways to make paychecks go further, raise wages, and create good jobs here at home. I’m also proposing that we re-evaluate how we make spending cuts – because they shouldn’t be made blindly across the board, as they have been in years past,” he wrote.
The statement by Price and Enzi noted that despite $2.1 trillion “in new tax increases, President Obama’s budget never balances – ever.”
And they noted the $2.1 trillion would be on top of “$1.7 trillion in tax hikes already imposed by this administration.”
They said Obama’s plan to spend billions more than the government takes in would lead to an inevitable result – a massive hike in interest costs for American taxpayers.
“Interest on the debt this year would be $229 billion, but would rise to $785 billion in 2025 under his plan,” they wrote.
“Since 2009, we’ve added $7.5 trillion to the debt and spent $21.1 trillion,” they noted. “The president’s budget plan to would [another] $8.5 trillion to the debt.”
That would lead to a debt that breaks down to approximately $81,000 per citizen.
“That’s why it’s so disturbing that President Obama has submitted yet another budget proposal that is focused on the same tired agenda that has failed to deliver for American families. The president is advocating more spending, more taxes and more debt. As we have seen over the past several years, that approach will yield less opportunity for the middle class and a crushing burden of debt that threatens both our future prosperity and our national security. A proposal that never balances is not a serious plan for America’s fiscal future. Especially when we have to borrow money just to afford the programs we already have,” said Price and Enzi.
Rep. Todd Rokita, R-Ind., vice chairman of the House Budget committee, also weighed in.
“Yet again, the president has proposed an irresponsible budget that punishes success, provides false promises to the American people, and never brings the budget into balance. It increases spending by $2.4 trillion, increases taxes by $2.1 trillion, and will add $8.5 trillion to the debt if implemented,” he said.
“I am fighting for all people so they can build better lives for themselves and their families. To that end, I’m working with my budget committee colleagues to craft a responsible plan that restrains spending without heavy-handed tax increases, balances the budget within 10 years, and restores the principles that make our nation exceptional.”
The New York Times reported Obama’s budget “proclaims victory in the long, difficult climb from recession.”
But the Times said bluntly, “The fiscal 2016 budget rests on two major presidential pushes that have virtually no chance in Congress: large tax increases on multinational corporations and the rich, and the passage of a comprehensive immigration law that would lift the economy with millions of new and newly legalized workers.”
The report also notes that Obama assumes that economic growth will surge suddenly from 2.2 percent in 2014 to “a robust 3.1 percent this year and 3 percent in 2016, and that unemployment will continue to fall.”
While the federal government boasts now that the unemployment rate is expected to be about 5.4 percent this year, analysts said the numbers simply ignore the millions of Americans who have given up searching for work and no longer are part of the nation’s workforce.