Obama’s Budget Proposal again resembles past year’s plans but with some adjustments for the wealthier Americans. Obama aims to keep prior year’s plans the same but take more money from wealthier American families as well as taking away more options for federal tax deductions.
Many proposals Obama makes have appeared in every budget since hes taken office and with those proposals, they still bring a negative attitude from legislators and no chance of passing through Congress.
Although few details exist on this year’s additions, one addition Obama has proposed is called the “Buffett Rule,” which is an additional tax that will take 30% earnings from all Americans who make over one million dollars a year.
With this year’s proposal so closely resembling previous attempts, it seems ill advised do push for the same proposals when election year politics are inevitably expected to shut down policy making in the divided Congress until after November 6.