The Obama Budget..Will He Or Won’t He Raise Taxes?

President Obama was a “Johnny come lately” to the current budget process.  He basically showed up in the 59th (okay 58th) minute of the 11th hour to input his two cents.  I am still wondering why the Democrats and Obama did not propose or pass a budget at the beginning of the current fiscal year.  You would think that since they controlled the House, Senate and Executive Branch that they would have been thrilled to pass a budget!  They could have had the moon and sky.  Any ideas?  Was it neglect or were they afraid or did they just want to bitch here at the end?

Today the President is here at the last minute to propose his budget for the upcoming fiscal year.  I tend to think this may have been a strategic move.  He was probably waiting to see what the Republicans proposed.   He will be announcing his budget to an audience of college students.  College students are generally more receptive to his progressive ideas.  This is probably a safe move for Obama.

The question is will the President propose tax increases on corporations and the wealthy?  Nearly everyone in media seems to think so.  I fail to understand how the president seems to think continual tax increases on these businesses and wealthy individuals will foster jobs.  Most businesses will be able to shelter their money in other places.  It’s possible that some may even Move to other places.  Some of Obamas best business “Buds” like Google avoided paying 3.1 billion dollars over three years (http://www.bloomberg.com/news/2010-10-21/google-2-4-rate-shows-how-60-billion-u-s-revenue-lost-to-tax-loopholes.html) by keeping their money out of the country.  His good pal Jeffrey Immelt of GE not only managed not to pay any taxes on the 5 billion dollars they made, he even managed to get Stimulus Money from Obama!  The wealthy, believe me will also find ways to shelter their money and avoid taxes.

Increasing taxes simply means less money is available for investment in jobs.  Jobs that would mean More Taxpayers or Producers,  Not Takers.  I really don’t expect Obama to grasp that concept.  He has never run a business and it certainly shows.  I am still perplexed at how we as a country could elect someone to run a Trillion Dollar business (the United States) without any executive type experience.  I’m sure if each of us had our own million dollar businesses and we wanted to retire but still own the business, we wouldn’t put it in someones hands that knew absolutely nothing about how to run it.  Unless of course we didn’t care if it crashed and burned.

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