Monday, March 28, 2011

Obama's 2012 Budget: Higher Taxes, Slower Growth | The Heritage Foundation

Abstract: President Obama recently unveiled his 2012 budget proposal and the 43 tax hikes it contains. The multitude of—utterly unnecessary—tax hikes will burden Americans to the tune of $1.5 trillion over the next decade. The President is proposing to raise federal tax revenues and federal spending as a percentage of GDP above historic levels, and keep them growing. This plan is a disaster for the economy—slowing down recovery, hurting job creation, making American companies less competitive, and burdening all Americans with higher taxes and consumer costs.



http://www.heritage.org/Research/Reports/2011/03/Obamas-2012-Budget-Higher-Taxes-Slower-Growth