President Barack Obama to Propose $1.5 trillion in New Taxes

Just what America needs in the midst of a double dip recession … Obama to propose $1.5 trillion in new taxes.  Just what we need to stimulate job creation, raising taxes in order to provide $3 trillion in debt reduction.  This President never met a tax hike he did not like … can 2012 come fast enough?

President Barack Obama’s proposal to reduce long-term deficits with $1.5 trillion in new taxes is less an opening bid in a negotiation than it is an opening salvo in a struggle to draw sharp contrasts with congressional Republicans.

Obama’s proposal is aimed predominantly at the wealthy and comes just days after House Speaker John Boehner ruled out tax increases to lower deficits. It also comes amid a clamor in his own Democratic Party for Obama to take a tougher stance against Republicans. And while the plan stands little chance of passing Congress, its populist pitch is one that the White House believes the public can support.

Of course Obama’s answer is tax the rich. Now that all depends on how you define rich. Obama calls it the Buffet rule; however, will people who make $250K be treated the same as some one who makes 100′s of millions? That is what Obama calls shared sacrifice. Legal Insurrection is correct, it is time for an intervention for Obama … America cannot take any more from this President.

Unreal, a President of the US pronounces political game playing with the US economy rather than providing leadership with an true and honesty economic policy.  All Obama is looking to do is blame the economy on the GOP rather they say, the buck stops with him.

VIDEO Hat Tip: The Gateway Pundit

Of course there is no playing politics or class warfare from Obama in his proposed $1.5 trillion.