News outlets are reporting that there are over $1 trillion in new taxes in the Obama budget. While that number is stunning, Grassfire.org has identified more than $1.6 trillion… and counting
No one is including the “Climate Revenues” of $645 billion. “Climate Revenues” is defined in the overview as “Proceeds from auctioning emission allowances” — i.e. the Carbon Tax that every American will be forced to pay because it is a pass-on tax to the consumer. Actually, according to the fine print of the Obama budget overview, the $645 billion shown is just the portion of the “Climate Revenues” that are currently designated to “clean energy technologies” and “Making Work Pay” program. The footnote explains, “Shown here [i.e. the $645 billion] are those proceeds from auctioning emission allowances that are reserved for clean energy technology initiatives and to compensate families through the Making Work Pay tax cut…. All additional net proceeds will be used to further compensate the public.”
Thus, the Obama budget, at a minimum, includes $1.6 trillion in new taxes and we have yet to add in the assorted “fees,” “leases,” and other “mandatory initaitives.” Above is our summary of the new tax increases in the Obama budget. (You can click on the image for a larger view.) Or, do the math yourself by downloading the “Official Budget Summary” excel sheet that we received from Capitol Hill.
If you haven’t done so already, please sign Grassfire’s “Stop The Spending” petition.
Here are some docs on Obama’s new budget, which has more than $1 trillion in new taxes, plus the start of the global warming taxing scheme, and the foundation for socialized healthcare.
Budget Overview (.pdf)
A_New_Era_of_Responsibility2.pdf
Official Budget Summary (.xls)
FY 2010 FINAL summary.xls
Other sources:
ABCNews: $1 trillion in new taxes
Deficit now projected for ’09 at $1.75 trillion — 3.5 times previo…
