Obama budget: Tax plans aim at rich
February 12th, 2012
07:37 PM ET
10 years ago

Obama budget: Tax plans aim at rich

New York (CNNMoney) - Raise taxes on those making more than $250,000. Limit deductions for the wealthy. Make an expanded college tax credit permanent.

Sound familiar?


Filed under: Budget • CNNMoney.com • President Obama
soundoff (18 Responses)
  1. the dogs of war

    Main dif between repub and lib constituents? libs say 'youre rich, you owe me some!' repubs say 'youre rich. tell me how you did it so i can learn to be succesful.'

    February 12, 2012 07:45 pm at 7:45 pm |
  2. Four and The Door

    Obama does not get it. We are not going to tax our way out of his financial mismanagement of the country. We are so deep now ( $16 trillion in debt and heading up, not down ) that we will not tax our way out. We will not even come close. Raising taxes just perpetuates this spiral of despair Obama has crafted for America's future.

    His politicking when what America needs is leadership is irresponsible. His message? Put progress on hold. It's an election year.

    February 12, 2012 07:59 pm at 7:59 pm |
  3. migeli

    Now you're talking!Go obama! Double tax them for what they've been getting away with for 10 years and ruined this country. Obama 4 more years. Sick of Republican scams and lies.

    February 12, 2012 08:23 pm at 8:23 pm |
  4. Howard

    Obama has played the AMERICAN PEOPLE again ... and, the only reason he keeps getting away with it over and over again, is because of the obama stooges, lwho continually defend, support, and excuse him, no matter how badly he messes up this country. If this corrupt, radical, narcissist gets another four years, without the fear of getting reelected holding him in check, he will be even more arrogant and power hungry ... and, you will be able to kiss American democracy goodbye

    February 12, 2012 08:33 pm at 8:33 pm |
  5. Joseph

    We come to it at last. The great struggle of our time. A wise Frenchman once prophesied, "Above this race of men stands an immense and tutelary power, which takes upon itself alone to secure their gratifications and to watch over their fate. That power is absolute, minute, regular, provident, and mild. It would be like the authority of a parent if, like that authority, its object was to prepare men for manhood; but it seeks, on the contrary, to keep them in perpetual childhood: it is well content that the people should rejoice, provided they think of nothing but rejoicing. For their happiness such a government willingly labors, but it chooses to be the sole agent and the only arbiter of that happiness; it provides for their security, foresees and supplies their necessities, facilitates their pleasures, manages their principal concerns, directs their industry, regulates the descent of property, and subdivides their inheritances: what remains, but to spare them all the care of thinking and all the trouble of living?"

    No. Thanks.

    February 12, 2012 08:36 pm at 8:36 pm |
  6. gt

    what happen to the pass on the bush tax cuts..oh yea that was before the election... obama what a joke on taxes..

    February 12, 2012 08:41 pm at 8:41 pm |
  7. Ted

    Not fair, my pizza place makes more then 250k a year and I work 70-80 hours a week. Raise that 250k to 500k.

    February 12, 2012 08:48 pm at 8:48 pm |
  8. fred doerrie

    As president Obama has expressed frequently and in all fairness, the wealthy and one percenter's should be "Required" to pay taxes @ least equal to those in the Middle Class pay. Why should the super wealthy pay taxes @ a lower rate than those americans who struggle to live paycheck to paycheck?? It really does pay to be rich in this country, just let the "common folk" continue to pull the weight of those who do everything in their power to avoid paying their fair share.

    February 12, 2012 08:56 pm at 8:56 pm |
  9. Mikey

    Mr. President, just keep doing the right thing and try to get it past the GOP, protectors of the privileged.

    February 12, 2012 09:13 pm at 9:13 pm |
  10. Larry L

    The rich have a good ride but once again, trickle-down economics failed to work. How many time will non-wealthy Republican voters fall for the same old trick? The so-called "job creators" sent their money offshore to foreign manufacturing and banks in Switzerland, Cayman, and other good places to avoid paying taxes in the U.S.

    February 12, 2012 10:58 pm at 10:58 pm |
  11. GonzoinHouston

    Growing the economy requires different things in different proportions under different circumstances. When the economy is strong, we want to encourage the development of corporations. This means we run a budget surplus, reduce government spending, and what tax breaks for the rich or capital gains as we can afford. When the economy is weak, as it is now, we run a budget deficit, increase spending, and increase taxes on the rich and capital gains. This encourages the growth of small businesses, which is where the jobs will come from. And for the record, small businesses are not started by rich people with tax breaks. They are started by middle-class people, usually with a bank or SBA loan

    February 12, 2012 11:07 pm at 11:07 pm |
  12. kat

    Keep on playing class warfare , you fool. We are better than this.

    February 13, 2012 01:52 am at 1:52 am |
  13. Sage Sophos

    Fair share, fair shot!

    February 13, 2012 06:09 am at 6:09 am |
  14. GI Joe.

    no more wars. no more tax cuts until the debt is paid.

    WE OWE for those wars and tax cuts.

    February 13, 2012 06:13 am at 6:13 am |
  15. Jerry

    This man is REALLY delusional. America, lets hold on to our wallets. Now more than ever! Is this president trying to finish ruining America before he's booted out of office. I for one have always doubted his patriotism (that his wife too) and have always REALLY wondered what is his real agenda for America.

    February 13, 2012 06:30 am at 6:30 am |
  16. PA_outofwork

    Obamas last budget; Ninety-seven senators voted against a motion to even take it up.

    Obama is set to unveil his budget proposal and its tax hikes. The multitude of—utterly unnecessary—tax hikes will burden Americans, slow down the recovery; albeit a small recovery, hurt job creation, make American companies less competitive and burden all Americans with higher taxes and consumer costs – this plan is a disaster for the economy.

    February 13, 2012 07:41 am at 7:41 am |
  17. diridi

    The Tax-Code needs to be re-done. Raise the Tax on who make more than 250k or more. We need to generate Income. Cut Defense. o.k, Pay off the loan. Bring Manufacturing and Agriculture. Apples are from China, shame on America. Infrastructure, Manufacturing, Agri, and Energy-Independence. strict immigration, nation needs it now.

    February 13, 2012 08:05 am at 8:05 am |
  18. Ancient Texan

    No surprise there.....just more of his class war fare and deficit spending....

    February 13, 2012 10:57 am at 10:57 am |