In 2011, with his new lazer-like focus on jobs, he's proposing $400 billion dollars in new taxes to off-set his $447 billion dollars spending spree which he wants to bolster SEIU membership by giving huge sums to state and local governments, and maybe do a little construction on the side...Reuters is reporting that,
President Barack Obama is proposing a series of tax increases, mainly on the wealthy, to help cover the cost of a $447 billion economic stimulus proposal, budget chief Jack Lew said on Monday. Lew said Obama's plan would raise $400 billion over 10 years by placing new limits on itemized deductions for individuals making more than $200,000 a year and families earning more than $250,000. The rest of the $467 billion in savings would come from raising a smattering of other taxes, including those on corporate jet owners and the oil and gas industry. [emphasis is mine, Ed.]The definition of insanity is continuing to do an action while expecting the get a different reaction. The "Stimulus Package" was basically configured much the say way as this "jobs plan" yet was a dismal failure, except to SEIU. Yet, here Mr. Obama is proposing to do pretty much exactly the same thing. Keynesian economics has failed in every instance it's been used to "jump start" an economy...why does he think it'll be different this time around?