Obama to propose $1.5 trillion in new taxes

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Obama to propose $1.5 trillion in new taxes today.

A quick look at this proposal tells me that most of it is made of gimmicks and smoke and mirrors. The cuts are elusive, while the tax increases are real. More important, none of it actually appears to cut spending at all, merely reducing the rate that spending increases over the next decade.

Sadly, I don’t expect anything much better from the present Republican leadership.


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