Obama's budget speech

[Riot]

Originally Posted by joeydb

From Drudgereport:

"Obama calls new taxes 'spending reductions in the tax code'"

Here's that exact quote Drudge is talking about:

The fourth step in our approach is to reduce spending in the tax code. In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. And I refuse to renew them again.

Beyond that, the tax code is also loaded up with spending on things like itemized deductions. And while I agree with the goals of many of these deductions, like homeownership or charitable giving, we cannot ignore the fact that they provide millionaires an average tax break of $75,000 while doing nothing for the typical middle-class family that doesn’t itemize.

My budget calls for limiting itemized deductions for the wealthiest 2% of Americans – a reform that would reduce the deficit by $320 billion over ten years. But to reduce the deficit, I believe we should go further. That’s why I’m calling on Congress to reform our individual tax code so that it is fair and simple – so that the amount of taxes you pay isn’t determined by what kind of accountant you can afford. I believe reform should protect the middle class, promote economic growth, and build on the Fiscal Commission’s model of reducing tax expenditures so that there is enough savings to both lower rates and lower the deficit. And as I called for in the State of the Union, we should reform our corporate tax code as well, to make our businesses and our economy more competitive.

Both lower all tax rates and lower the deficit by eliminating loopholes and instituting a fairer tax system? Yeah. I like that.

[brianwspencer]

All well and good to say...until it comes up and gets debated and the GOP counts on him to cave into almost everything they want (which is a sure thing, like he always does), and it'll wind up looking just like Ryan's plan when they're done having their way with him yet again.

Color me unimpressed.

[geeker2]

Originally Posted by brianwspencer

All well and good to say...until it comes up and gets debated and the GOP counts on him to cave into almost everything they want (which is a sure thing, like he always does), and it'll wind up looking just like Ryan's plan when they're done having their way with him yet again.

Color me unimpressed.

there's still hope for you yet Brian

Oh and apparently the VP wasn't that impressed either

http://abcnews.go.com/Politics/video...peech-13367372

[brianwspencer]

Originally Posted by geeker2

there's still hope for you yet Brian

Ha, unfortunately, Obama's lack of spine probably won't push me in the direction that would make you consider me a "success."

[geeker2]

Originally Posted by brianwspencer

Ha, unfortunately, Obama's lack of spine probably won't push me in the direction that would make you consider me a "success."

We met at the Bcup at SA when GBBob hit that longshot in the marathon...You're AOK and love horse racing - we can co-exist