View mobile site
Follow us on
Where Jacksonville Listens Live for Severe Weather and Breaking News
Hi, (not you?) | Member Center | Sign Out
Sign In | Register
Posted: 5:34 p.m. Wednesday, Feb. 25, 2009
By Jamie Dupree
Some of the screams and yells from Republicans on Capitol Hill today are sure to be somewhat along the lines of "I told you so!" as President Obama unveils his first budget outline.
As a few of the specifics began leaking out on Wednesday evening, you could almost feel the collective blood pressure of the GOP rising, mainly because of the phrase "tax increase."
As President Obama has talked about, he wants to raise taxes on those who make more than $250,000 a year.
Their tax rate would go from 35% to 39.6%.
Another plan would limit the deductions of those who itemize their returns in the top two tax brackets.
Using the existing tax brackets for 2009, that means anyone with taxable income of over $171,550 for singles and $208,850 for married couples would see their tax bills go up as well.
Those changes in deduction limits would raise money to in part fund an over $600 billion initiative to extend health care coverage to millions of uninsured Americans.
We'll see what the actual details say when the White House releases them.
Unlike the usual budget submission this time of year, this is just an outline of what President Obama wants to do, so it will give him some wiggle room.
But it is a distinct reminder that there is a new sheriff in town, and he's a sheriff who sees things a lot differently than George W. Bush.
© 2013 Cox Media Group. By using this website,
Already have an account? Sign In
We have sent you a confirmation email. Please check your email and click on the link to activate your account.
We look forward to seeing you frequently. Visit us and sign in to update your profile, receive the latest news and keep up to date with mobile alerts.
Don't worry, it happens. We'll send you a link to create a new password.
We have sent you an email with a link to change your password.
We've sent an email with instructions to create a new password. Your existing password has not been changed.
To sign in you must verify your email address. Fill out the form below and we'll send you an email to verify.
Check your email for a link to verify your email address.