It is all a side show to keep us entertained while Obama is using our military to work with Al Qaeda and the Saudi's to rearrange the middle east and put their people in charge of it.
Families earning $25,000 or less would lose an average $5,000 per year due to the loss of the huge Earned Income Credit, doubled Child Credit, discontinued marriage penalty. Everyone would be paying much higher taxes (approx 2-5% more) plus lose some major deductions.
Unless they reform welfare again, no it will not reduce spending levels. The sequester will cost an estimated 1 to 1.5 million jobs just in defense jobs. There will also be many jobs lost due to more cuts to medicare perhaps to rival the number of defense jobs. They won't be able to reform welfare if that happens. Welfare is up to nearly 1 trillion per year. Student loans are possibly the next bubble to burst.
I suspect Obama already has this money spent and more. The only way to increase tax revenue is to expand the economy but instead he is hugely expanding government. Big mistake. I can't believe people were stupid enough to reelect this man.
If we go by what President Obama proposes, it'll take the rich back to the same tax rates they were paying during Clinton. This left a surplus, and we sure didn't hear the rich bitching about paying those rates back then. If we go by what the Republicans and John Bohner wants, the rich will have permanent corporate welfare.
It will pretty much balance the budget by cutting spending by over a trillion and increasing revenue by $380 billion. I really can't figure out why connies are not psyched to cut a trillion in spending. Half of which will slam the poorest Americans.
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It is all a side show to keep us entertained while Obama is using our military to work with Al Qaeda and the Saudi's to rearrange the middle east and put their people in charge of it.
http://www.canadafreepress.com/index.php/article/5...
Americans are so screwed once China, Russia and Iran are fed up with it.
Families earning $25,000 or less would lose an average $5,000 per year due to the loss of the huge Earned Income Credit, doubled Child Credit, discontinued marriage penalty. Everyone would be paying much higher taxes (approx 2-5% more) plus lose some major deductions.
Unless they reform welfare again, no it will not reduce spending levels. The sequester will cost an estimated 1 to 1.5 million jobs just in defense jobs. There will also be many jobs lost due to more cuts to medicare perhaps to rival the number of defense jobs. They won't be able to reform welfare if that happens. Welfare is up to nearly 1 trillion per year. Student loans are possibly the next bubble to burst.
I suspect Obama already has this money spent and more. The only way to increase tax revenue is to expand the economy but instead he is hugely expanding government. Big mistake. I can't believe people were stupid enough to reelect this man.
If we go by what President Obama proposes, it'll take the rich back to the same tax rates they were paying during Clinton. This left a surplus, and we sure didn't hear the rich bitching about paying those rates back then. If we go by what the Republicans and John Bohner wants, the rich will have permanent corporate welfare.
It will pretty much balance the budget by cutting spending by over a trillion and increasing revenue by $380 billion. I really can't figure out why connies are not psyched to cut a trillion in spending. Half of which will slam the poorest Americans.