“President Barack Obama wants to prevent people from accumulating too much money in their tax- advantaged retirement accounts or trusts for heirs, adding to pressure on the wealthy after raising tax rates in January.
The White House today released their budget for fiscal year 2014. This budget proposal, arriving 65 days late, includes $3.77 trillion of total spending, increases taxes by $580 billion by ending tax deductions and closing loopholes and would leave the nation with a $744 billion budget deficit in 2014. Despite a $230 billion cut in entitlement spending, the administration’s budget still fails to balance.
OK, so the nasty Republicans who won’t spend more money and raise taxes again are killing elderly cancer patients. Got it. Could there possibly be more to the story? Well, not if you’re the legacy media, but if you could be troubled to even turn over a small stone there might be more.