Monday, September 19, 2011

A Helpful Breakdown of Obama's Deficit Cutting Plan

Posted By on Mon, Sep 19, 2011 at 10:00 AM

I can only imagine what the response will be, but in case you missed this morning's speech, here's how the helpful blog DC Decoder has a solid breakdown of Obama's debt reduction scheme.

The most controversial section? The not raising/raising of taxes for the wealthy:

4. $1.5 trillion from tax reform

This is where things get interesting. While the “Buffett Rule,” a novel Obama prescription that would prevent upper income earners from paying a lower rate than middle class Americans, has gotten a lot of press, the President doesn’t specify how much it would reduce the deficit in his plan. Instead, tax reform savings come from:

* Allowing the Bush tax cuts to expire for the wealthiest Americans (over $850 billion)
* Limiting exclusions and deductions for those making over $250,000 per year ($410 billion)
* $300 billion in savings from closing loopholes and special tax breaks.

Tags: , , , ,

Comments

Showing 1-1 of 1

Add a comment

 
Subscribe to this thread:
Showing 1-1 of 1

Add a comment

More by Dan Gibson

Today | Fri | Sat | Sun | Mon | Tue | Wed
Meditation and Buddhist study

Meditation and Buddhist study @ Sky Island Zen

Mondays, Saturdays

All of today's events | Staff Picks

Staff Pick

Chris Isaak

Chris Isaak is making his way back to the Fox Tucson Theatre! Chris has been a Grammy… More

@ Fox Tucson Theatre Sun., Aug. 25, 7-9 p.m. 17 W. Congress St.

» More Picks

Submit an Event Listing

Popular Content

  1. Claytoon of the Day: A Danish Denial (The Range: The Tucson Weekly's Daily Dispatch)
  2. Claytoon of the Day: Meanwhile, On Obama Avenue (The Range: The Tucson Weekly's Daily Dispatch)
  3. TW Exclusive: Tracy Shedd Music Video Premier for “Holding On” (The Range: The Tucson Weekly's Daily Dispatch)
  4. Interview With TUSD Board Member Leila Counts (The Range: The Tucson Weekly's Daily Dispatch)
  5. A [Fill in the Blank] as the Democratic Presidential Candidate? I Guess Democrats Just Want to Lose. (The Range: The Tucson Weekly's Daily Dispatch)

© 2019 Tucson Weekly | 7225 Mona Lisa Rd. Ste. 125, Tucson AZ 85741 | (520) 797-4384 | Powered by Foundation