{"id":283279,"date":"2010-02-02T19:19:26","date_gmt":"2010-02-03T00:19:26","guid":{"rendered":"http:\/\/www.personalliberty.com\/liberty\/obama-to-increase-taxes-over-the-next-decade\/"},"modified":"2010-02-02T19:19:26","modified_gmt":"2010-02-03T00:19:26","slug":"obama-to-increase-taxes-over-the-next-decade","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/283279","title":{"rendered":"Obama To Increase Taxes Over The Next Decade"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/pictures.directnews.co.uk\/liveimages\/Barack+Obama_1961_19593708_0_0_7049893_300.jpg\" alt=\"Obama to increase taxes over the next decade\" align=\"right\" class=\"post_image\">To help subsidize the $3.8 trillion proposed budget for fiscal year 2011, President Obama will increase taxes on some businesses and upper-income households by nearly $2 trillion during the next decade, a plan that will still leave the nation with $8.5 trillion in added debt in 2020, <i>The Wall Street Journal<\/i> reports. <\/p>\n<p>By allowing the cuts introduced by the previous administration to expire, Obama will increase taxes on families with a household annual income above $250,000 by as much as 3.6 percent. Oil companies will also lose $35.5 billion in tax breaks over the next 10 years. <\/p>\n<p>Some of Obama&#8217;s other initiatives include limiting the tax deductions that the wealthy can claim for charitable donations, mortgage payments and local taxes, according to <i>Fox News<\/i>. <\/p>\n<p>The president&#8217;s new increases have drawn the ire of many fiscal conservatives, including several top Republicans in the House. <\/p>\n<p>&quot;This budget features too many new taxes, too much new spending and too much new debt,&quot; said Representative Dave Camp of Michigan, the lead Republican on tax-writing for the House Ways and Means Committee, quoted by the news source. <\/p>\n<p>Through various programs and credits, the current administration will also cut taxes for some workers and other businesses by approximately $330 billion. <br \/><img decoding=\"async\" alt=\"ADNFCR-1961-ID-19593708-ADNFCR\" src=\"http:\/\/feeds.directnews.co.uk\/feedtrack\/justcopyright.gif?feedid=1961&amp;itemid=19593708\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To help subsidize the $3.8 trillion proposed budget for fiscal year 2011, President Obama will increase taxes on some businesses and upper-income households by nearly $2 trillion during the next decade, a plan that will still leave the nation with $8.5 trillion in added debt in 2020, The Wall Street Journal reports. By allowing the [&hellip;]<\/p>\n","protected":false},"author":4205,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-283279","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/283279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4205"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=283279"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/283279\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=283279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=283279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=283279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}