Obama’s Budget Includes $800 Billion Tax Hike, $7.3 Trillion in New Debt

Posted by on Apr 05, 2013 at 5:39 pm

“The taxes figure is the $600 billion in tax hikes admitted to by the President in today’s leaks, plus the $100 billion from the CPUI change noted on the WH website, and $100 billion for tobacco taxes to pay for universal pre-K.  We don’t know what the President’s exact proposal will be, but we know those taxes can be set to hit whatever number the President needs to pay for his pre-K policy.  The media today reports that the president will raise tobacco taxes to pay for universal pre-K.  We know from earlier reporting  that the President’s pre-K plan could cost between $10 and $25 billion, so $100 billion over 10 years is a reasonable number for the first 10 year cost of the program, and the new taxes needed to pay for it.

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One Response to “Obama’s Budget Includes $800 Billion Tax Hike, $7.3 Trillion in New Debt”

  1. moonbeam caviar and rainbow stew on 6/06/13 at 8:09 pm

    We have to destroy the economy to find out what’s in it.