Report: Billions in Tax Hikes Hidden in President’s Budget
- Posted on March 2, 2012 at 1:29pm by
Becket Adams
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Although it has already been reported that President Obama’s latest budget proposal includes some hefty tax increases, the total amount may have been dangerously understated.
“By how much?” you ask. Try $128 billion.
The Heritage foundation has discovered that the president’s budget proposal is chock-full of hidden tax hikes, adding up to a total of $2 trillion in higher taxes.
“In fact, the President wants to raise taxes by $1.689 trillion – that’s $128 billion more than [the $1.56 trillion] reported by the White House Office of Management and Budget (OMB) in the President’s FY 2013 budget proposal,” The Foundry’s Mike Brownfield writes.
Wait a minute. How can that be? Where are these numbers coming from?
The Heritage Foundation’s Curtis Dubay explains that the estimate in the Treasury Department’s separate report (its “Green Book”) is substantially larger than what was reported by the OMB.
“The Green Book estimates that the President wants to raise taxes by $1.689 trillion,” Dubay writes, “That is $128 billion more than the OMB figure.”
Why did the Treasury Department’s number differ from the OMB’s? Apparently, the OMB stashed tax hikes in areas where they didn’t belong, clearly misleading readers about the actual amount of tax increases.
Which tax hikes were buried deep in the OMB report?
Dubay lists a couple of them:
The biggest missing tax hike from the tax section is the “Financial Crisis Responsibility Fee,” better known as the bank tax. OMB put this tax in the Treasury Department’s section of the table. This tax hike adds another $61 billion to the President’s tax hike total. Also included in the Treasury Department’s section is a $44 billion tax hike from allowing the IRS to adjust a program integrity cap. OMB put a $48 billion increase of the unemployment tax in a footnote of the Labor Department’s section and a $1 billion hike of user fees for commercial navigation of inland waterways in the Veterans Affairs’ section (Corps of Engineers). These hidden tax hikes account for the missing $154 billion.
OMB also failed to account for a relatively small amount of tax cuts in its total tax hike figure. Those tax cuts total $26 billion. Subtracting that sum from the $154 billion missing tax hikes figure arrives at the missing $128 billion of net tax hikes OMB misclassified that should be included in President Obama’s total tax hike.
Dubay points out that the president’s budget also takes credit for tax cuts that aren’t new policies, and “therefore wrongly reduce the amount he plans to increase revenue.”
So what does this mean?
“Properly remove that $317 billion of previous tax cuts from the President’s net tax hike as reported by OMB, add the missing $128 billion of tax hikes, and the President actually calls for raising taxes by more than $2 trillion over 10 years. That is 31 percent more than the OMB figure suggests the President wants to raise taxes,” Dubay explains.
What suggestions are there?
“Congress should disregard the misleading tax hike figure from OMB’s table and use the correct $2 trillion amount when referring to the total tax hikes in the President’s budget,” Dubay writes. “Members of Congress should question OMB as to why they chose to mislead readers about the total tax hike that President Obama has called for on American taxpayers.”
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Comments (125)
jand777
Posted on March 2, 2012 at 2:20pmHe knows what he is doing. None of this is by accident. It is all planned and calculated. Remember, watch the other hand, he is very experienced in hiding what his plans really are. Look one way for his voting block and then behind their back he is screwing them and us. He is not to be trusted.
Report Post »HKS
Posted on March 2, 2012 at 2:26pmMost of America will never hear this, no mainstream media will mention it at all.
Report Post »DIVINEPROVIDENCE1776
Posted on March 2, 2012 at 2:38pmExactly, he and his minions are no dummies. They have studied, trained for years and are carrying out their Communist Party marching orders. The GOP are either very naive(I doubt) or don’t want to be killed in exposing them, like JFK tried to do. I don’t believe in the JFK conspiracy theory at all. A communist killed JFK because he was going to expose them. Period. Either way the GOP should be be tried on treason for remaining silent and doing nothing, along with the media.
Report Post »Hiswill
Posted on March 2, 2012 at 3:37pmI’ve started to post these kinds of stories (the ones the lame stream media won’t put on the news) on my facebook page in hopes it will be passed around to the blind left.
Report Post »LouC57
Posted on March 2, 2012 at 3:44pmJand777, you’re 100% correct. Try as I might, I still cuss him every time I hear about anything he’s done and call him a fool, but I have known from day 1 this guy is purposely doing this stuff.
Report Post »NHwinter
Posted on March 2, 2012 at 4:45pmDoes anyone else think that picture of Obama is perfect. He must be laughing everyday at the thought of how stupid he thinks we all are.
Report Post »VISITORNUMBER3
Posted on March 2, 2012 at 2:18pmWOW…the main-stream media will have a field day with this !!!! (NOT!!)
Report Post »CatB
Posted on March 2, 2012 at 3:06pmcrickets … crickets … crickets …
send a link to this .. especially to anyone you know who supports this regime!
Report Post »mikee99
Posted on March 2, 2012 at 3:23pmEspecially if there was a conservative in office.
Report Post »DIVINEPROVIDENCE1776
Posted on March 2, 2012 at 2:18pm“Wherever the Communist Party makes it’s appearance, it serves as a force of division and friction, following the theory of divide and rule” Sound familiar?
Report Post »Mark0331
Posted on March 2, 2012 at 2:13pmOnce again, Barry is caught in another lie. The man can’t even add his own bill up and be honest with the numbers. What a fool. Those that think he is bright are beyond help. Nothing sadder than a Barry supporter. They really are delusional. If it turns out that Barry is a cannibal, they would probably say,”Well, he is just helping planned parenthood and saving us tax dollars.” Barry the crackhead is a fool and a liar. Keep shuckin‘ and jivin’ Barry,keep shuckin‘ and jivin’…fool idiot
Report Post »Henrys_Ghost
Posted on March 2, 2012 at 2:20pmBut at least he doesn’t cheat on golf!
Report Post »AM-Saves
Posted on March 2, 2012 at 2:20pmWhen do we reach that point where the numbers don’t matter anymore? Simply put when you’re broke and need $3,000 for immediate car repairs, it might as well be $3,000,000, both are just as unattainable. It’s the same with our debt & budget just more zeros…
Report Post »1TrueOne55
Posted on March 2, 2012 at 2:28pmRemember Al Gore called George Bush out for “FUZZY MATH” I wonder what you call this. I know illegal math/fraud/lies.
Report Post »chips1
Posted on March 2, 2012 at 4:00pmNappy headed math? Just a guess!!!!
Report Post »countryfirst
Posted on March 2, 2012 at 4:08pmI just thought about why Barry loves golf, he gets to hit a WHITE ball with a club and keep hitting it till it lands in a hole in the ground.
Report Post »financiallyfreeb430
Posted on March 2, 2012 at 2:08pm@CATPBJ- Ive read your comments…Theres ZERO possibility youre successful!! Good luck if your messiah, Obama get re-elected!! Theres only two classes of people who could possibly support him: Uber rich (who own green energy/solar/ companies) & poverty stricken!! Pretty sure I know which class you fall in!!
Report Post »DIVINEPROVIDENCE1776
Posted on March 2, 2012 at 2:06pmCommunist Party literature in the 20‘s and 30’s was replete with references to itself as “the leader of the proletariat,“ ”the vanguard of the working class”, even reaching the point where it was characterized as “the most complete bearer of the great achievements of tens of centuries of the rise of the human mind and it’s mastery of the earth.” Sound familiar?
Report Post »IMCHRISTIAN
Posted on March 2, 2012 at 2:06pmIf he really cared for the citizens of America, he would only have the bare really necessary expenses. If he is such a smart fellow he would be thinking of the people instead of his green agenda.The States knows what they need more then the Federal Government. I imagine it has a lot to do with investments for his friends. God help us if he is re-elected.
Report Post »Newsy
Posted on March 2, 2012 at 2:05pmAnd the Fascist/Socialist just keeps promoting his lies………
Report Post »Can’t wait to hear his next move to protect the banks like his biggest donor Chase Manhattan. Yeah, he’s just a democrat – party of the poor – no real big money dudes there.
Razorhunters
Posted on March 2, 2012 at 2:04pmmore proof barry the criminal is laying waste to the usa.
Report Post »Jesus Christ was a Proud Liberal
Posted on March 2, 2012 at 2:03pmWhat imbecile starts two ground wars AND lowers taxes…… Why, that imbecile is none other than Bushie the second! But wait, we can add more to the deficit if we pass Medicare Part D (without being funded of course) and add that to the debt from two ground wars each lasting about a decade while taxes are at the historic low for our countries history!!! Thank you little bushie the second!! Thank God for President Obama to actually help this great nation after the decade of abuse from the mentally challenged bushie the second….
Report Post »Razorhunters
Posted on March 2, 2012 at 2:06pmbush was a criminal pos…but barry the illegal makes bush look an amateur…
Report Post »MemphisViking
Posted on March 2, 2012 at 2:08pmSpeaking of imbeciles…
Report Post »AvengerK
Posted on March 2, 2012 at 2:09pmLOL…tell me…how much has Obama added to the debt again?
Report Post »let us prey
Posted on March 2, 2012 at 2:11pmProud liberal haha
Report Post »To put that into perspective, when President George W. Bush took office, our national debt was $5.768 trillion. By the time Bush left office, it had nearly doubled, to $10.626 trillion. So Bush’s record on deficit spending was not good at all: During his presidency, the national debt rose by an average of $607 billion a year. How does that compare to Obama? During Obama’s presidency to date, the national debt has risen by an average of $1.723 trillion a year — or by a jaw-dropping $1.116 trillion more, per year, than it rose even under Bush.
Not much to brag about. You can crawl back up his pant leg any time now.
AvengerK
Posted on March 2, 2012 at 2:15pmLiberals are such funny creatures….here’s one bleating the tired old “Bush did it” canard about costs and debt (as if that’s ever been important to a liberal anyway)…while ignoring the fact that Obama has spent faster and increased the debt more than any president in history with nothing credible to show for it.
Report Post »Paul
Posted on March 2, 2012 at 2:36pmGlad you’re proud, it’ll make your fall that much harder.
Report Post »You are one mixed up character…….
Jesus Christ was a Proud Liberal
Posted on March 2, 2012 at 5:20pmI‘m not saying that Obama hasn’t added to our national debt, but to blame him for costs that started in the Bush regime is ridiculous. Do you think that the funding for the two ground wars and the funding for Medicare Part D ENDED when Obama started his presidency? I don’t think so, and therefore you cannot logically point the blame finger at Obama for the portion of national debt attributed to the two wars and medicare part D. And these three ‘items’ contributed to the national debt were the largest of ANY items since Obama took office.
Report Post »Mateytwo Barreett
Posted on March 2, 2012 at 2:02pmSomebody left the computer unlocked in the day room at the reform school again? !???
Report Post »DIVINEPROVIDENCE1776
Posted on March 2, 2012 at 2:01pmTake a hike troll. Go polish your communist red star and go polish Maobama‘s boot’s, after you lick them.
Report Post »hauschild
Posted on March 2, 2012 at 2:00pmI hear ya, brother! I am a believer!!!
Report Post »hauschild
Posted on March 2, 2012 at 1:59pmOne word the Marxist and his Minions do not know and will never mutter: Bootstraps.
Don’t losers grow tired of being losers???
Report Post »Hold-Our-Politicians-Accountable
Posted on March 2, 2012 at 2:07pmAll of our politicians need to be held accountable including candidates. We can start by holding Congress responsible for not standing up for american citizens that they are suppose to serve.
Report Post »What we need is http://www.petition2congress.com/6195/congressional-reform-act-to-fix-congress/
Jesus Christ was a Proud Liberal
Posted on March 2, 2012 at 2:10pmYou tell me. Do loser conservative dumbasses get tired of being dumba$$e$? I think not!
Don’t piss on my leg and tell me its the trickle down economic theory! Praise the Lord that President Obama is acting like a smart adult in DC because the idiotic congress is more concerned about the female reproductive system then they are about jobs and the economic health of the USA as a whole!!
No TEA for YOU!
Obama/Biden 2012 — yeeehaaaa!!!
Report Post »let us prey
Posted on March 2, 2012 at 2:20pmProud liberal
Report Post »Your childish taunts would be more appreciated at the huff n puff. I feel sorry for you.
Gonzo
Posted on March 2, 2012 at 2:20pmJ.C. was a Liberal ends his post with “Obama/Biden 2012″ and calls us dumb@sses? That’s pretty funny.
Report Post »AvengerK
Posted on March 2, 2012 at 2:21pmLOL…very good PROUD LIBERAL. Economic health of the country you say? Home prices have fallen to record lows. Foreclosures are up. Business isn’t hiring at levels we need for a credible recovery. Fuel prices are up more under Obama. Consumer confidence is dreadfully low. The underemployment rate is the biggest under Obama since WWII. Let me elaborate..more people have given up looking for work or are only working part time under Barack Obama than any president since WWII. In fact…the workforce has shrunk under Barack Obama…that’s right..less people are working under Barack Obama. Please, explain to me again how the economy and jobs are Obama‘s primary concern because if this is how he prioritizes I’m dread to think what he does with stuff on the back burner.
Report Post »randy
Posted on March 2, 2012 at 1:53pm1 trillion dollars = $2703.00 from every man, woman and child in the United States.
But wait, You say 60% of the US does not pay tax?
You mean to tell me that 220,000,000 US citizens do not pay their share?
(Can you say OWS and Welfare)
Leaving the other 40% or 150,000,000 taxpayers, to pony up the rest.
$666.666 Hmmmmm, sure are a lot of triple 6′s there.
Numbers based on 370 million citizens of the US.
Report Post »(and I had to look up ow many 0′s in a Trillion :)
Check my math :)
HorseCrazy
Posted on March 2, 2012 at 1:51pmanyone surprised by this needs to get off the huffpo
Report Post »AvengerK
Posted on March 2, 2012 at 2:11pmObama’s projections are usually done from rosier than rosy budget and economic conditions. They’re built on fantasies.
Report Post »DIVINEPROVIDENCE1776
Posted on March 2, 2012 at 2:12pmLol! You got that right.
Report Post »mikee99
Posted on March 2, 2012 at 1:49pmWithout most of the media they could never get away with this or the other lies.
Report Post »randy
Posted on March 2, 2012 at 1:56pmAmen MIke!
Report Post »BurntHills
Posted on March 2, 2012 at 1:48pmbesides what that filthy rabid animal obama has funneled to his communists and soros, how much is in his stashes …in all those countries he bowed deepest to.
Report Post »DIVINEPROVIDENCE1776
Posted on March 2, 2012 at 1:48pmObama is a communist mole, pure and simple. Like Andrew Breitbart said “The Democratic Party is not your mothers Democratic Party” J. Peters was a leading figure of the Hungarian language section of the Communist Party USA in the 1920s and 1930s, he wrote the CPUSA Manual on Organization. In it he indicates that “the party Unit as whole and every individual member of the Unit should be known by the workers in the street or town as fearless fighters.“ The Party operates on the theory that ”He who is not with us, is against us” Sound familiar?
Report Post »Mateytwo Barreett
Posted on March 2, 2012 at 2:07pmMole? MOLE? No!, No!, NO!!!! It;s a freakin Badger!!! Citydweller pocket dictionary: a large, rodent with a strong sense of territory and amazing excavation capabilities.
Report Post »Airgun
Posted on March 2, 2012 at 1:48pm@Cat- When you’ve finished reading the 18,000 pages of paper containing the new budget proposals, you get back to us.
Report Post »rienheart
Posted on March 2, 2012 at 1:48pmSad day if Obumer get’s reelected… for the Poor. They will be affected the Most. They will be voting for him, expecting to get more money for welfare and food stamps. Payments will be ending. America will be broke and the Riots will begin.
Report Post »cemerius
Posted on March 2, 2012 at 1:41pmRedistributing wealth to Government coffers to be passed out to buy votes? What’s new from a democrat???
Report Post »Marci
Posted on March 2, 2012 at 1:47pmShocker coming from this president, huh? Yet, the entitlement class does not care, and therein lies the problem. The only people who care are those who have to pay for it–the rest of us.
Report Post »DIVINEPROVIDENCE1776
Posted on March 2, 2012 at 1:52pm“What’s new from a democrat???” You mean what’s new from a Communist. Their tactics and economic “solutions” are as old as the hills. Marxism-Leninism-Stalinism. They are ready for the dustbin of history!
Report Post »Mateytwo Barreett
Posted on March 2, 2012 at 1:41pmWE MUST pass the bill to find out what’s in it!!!! Christmas morning at the assylum!
Report Post »Show of hands!! How many think there is ONLY $128 billion hidden in there.
Notice we‘re hot ’n‘heavy on those nasty ol’ oil companies again. And who gets to pay for it.
Financial Crisis Responsibility Fee. Wadabunchamuthafucas!
Gonzo
Posted on March 2, 2012 at 1:44pmYou mean raising taxes on oil companies won’t lower gas prices? He had a whole room full of lemmings believing it would yesterday.
Report Post »TakeBackAmerica
Posted on March 2, 2012 at 1:39pmWhy, don’t you have any?
How about this: If the ingnoramuses who elected this sad excuse for a president make the same mistake again, then those survival methods harped on this site might just be necessary!
Report Post »cessna152
Posted on March 2, 2012 at 1:34pmWhile you’re at it, Mr. President why don’t you simply confiscate our property, children and guns? We know that’s what you have in mind….please do so and speed up “the process”….for us, that is.
Report Post »cemerius
Posted on March 2, 2012 at 1:44pmThe ovens would come next IF we lose our guns!!! Clean slate the country so the UN can displace all the other countries riff raff…..
Report Post »Popp40
Posted on March 2, 2012 at 1:44pmThat’s coming in the next few months…….just wait and see.
Report Post »Snowleopard {gallery of cat folks}
Posted on March 2, 2012 at 1:44pmIt’s happening step by step already, I guess the only reason the full power grab has yet to happen is he still fears the armed people of the nation…the patriotic US citizens who love freedom.
Report Post »Popp40
Posted on March 2, 2012 at 2:23pmIf you haven’t noticed mainstream media has been doing all they can to demonizing guns and gun ownership. Just look at the stories about children getting suspended for just drawing an image of a gun. And look at the stories about the EPA telling people what they can and cannot do on their OWN property. Plus, for those that are paying attention will know that the Federal government is buying up/taking land like crazy….and lets not forget who holds 95% of the mortgages in the USA….for those of you that do not know that would be Freddie and Fannie Mae…who is owned by the Federal government. As for our children….all you have to do is look at the Public School System, need I say more!
They have already planted the seeds to take everything over and in many places they have already started to grow….the question is have they taken root and have taken over? Most of our society seems to want this but I have to ask….can they not see the train that is coming head on or are they still facinated by the pretty light that is coming towards them?
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