America, You Asked For It!

Political News and Commentary from the Right

Inside Obama’s Budget

Okay, tell those who believe BHO’s BS, take a look at the projected individual vs corporate income tax receipts for budget years 2011-2020 on page 12 of Obama’s proposed budget.

Budget Year Individual Income Tax Receipts (Billions) Corporate Income Tax Receipts (Billions)
2011 1,121 297
2012 1,289 356
2013 1,386 371
2014 1,470 408
2015 1,542 366
2016 1,604 388
2017 1,659 388
2018 1,709 384
2019 1,753 383
2020 1,791 385

That’s a 60% increase in annual individual tax receipts over the next 10 years, vs. a 30% increase in corporate tax receipts over the same period.

It sounds like Obama either intends to dramatically boost individual income tax rates over the 10 year period, or doesn’t expect corporations to fare very well in the coming decade.

If we are forced to endure the President’s policies, both may well prove to be true.

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February 3, 2010 - Posted by | Uncategorized

4 Comments »

  1. I knew it…

    Comment by ReaganLogan | February 3, 2010 | Reply

  2. TWO MEN WHO HEADED TWO CORPORATIONS (FANNY MAE AND FREDDIE MAC ACTUALLY CAUSED THE INCIDENT WHICH TRIGGERED THIS RECESSION. ONE OF THESE MEN IS REPORTED TO HAVE RECEIVED 104 MILLION DOLLARS SEVERANCE WHEN HE LEFT TO GO WITH THE OBAMA CAMPAIGN( BOTH OF THEM SUPPORT OBAMA. A LARGE CORPORATION CANNOT THRIVE WITH MORE THAN 4% BAD DEBTS AND CANNOT SURVIVE LONG WITH MORE THAN 10%. BOTH OF THESE
    COMPANIES HAD MORE THAN 50% BAD DEBTS AND AIG INSURED ALL OF THESE BAD DEBTS WHILE BANK OF AMERICA ALSO HD BDS
    THESE FOUR CORPS CAUSED THE FAILURE ALL OBAMA FRIENDS

    Comment by jim fuller | February 3, 2010 | Reply

  3. Why didn’t any of the progressives, or “fat-cat haters” yell when those at Fannie Mae and Freddie Mac got those huge bonuses? Something smells bad…..you know who it is.

    Comment by Debbie | February 3, 2010 | Reply

  4. […] “Chains you can believe in” Last week we told you about the drastic increase in individual tax receipts included in President Obama’s proposed budget. This week we dug a […]

    Pingback by More “Chains you can believe in” « America, You Asked For It! | February 9, 2010 | Reply


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