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)|
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.