President Barack Obama is out this morning wiath a proposed Federal budget of $4 trillion. with a big boost for infrastructure spending--and a call for higher taxes.
The proposed budget calls for $3.99 trillion in spending and $3.53 trillion in revenue, while running a $474 billion deficit in the fiscal year beginning Oct. 1.
The 2,000-page plan calls for an end to the automatic, across-the-board spending cuts that both parties agreed to four years ago, dismissing them as “mindless austerity” brought about through “manufactured crises.”
The budget includes $561 billion in military spending, which includes funds for the Empire’s confrontation with Russia over Ukraine and the U.S.-led fight against Islamic State militants in Iraq and Syria. It also reserves $14 billion for cybersecurity measures.
The budget also calls for a one-time 14% tax on approximately $2 trillion in accumulated foreign earnings. Ands such corporations would also face a 19% minimum tax on future foreign profits.
Rand Paul announced last week. alongside Barbara Boxer, the 'Invest in Transportation Act,' which would fund infrastructure spending via, you guessed it, a tax on repatriated earnings from foreign subsidiaries of US corporations. Think of it as Obama tax and spend dressed up in some kind of libertarian wig and cross-dressing garb.
To understand the infrastructure scam. see:
The Perennial Myth Of Crumbling Infrastructure
-RW
Getting desperate.....they are starting to bite the hands that feed them. Next time they go around looking for election contributions the talking points might get a little messy. Notice the scum banking oligarchy isn't being mentioned....how about letting them reap what they sew and realize losses on loans and trades they should have never made? Trillions for the banking trash....
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