Obama's Plans for Deficit and Taxes Are Detailed on Eve of Budget Proposal - NYTimes.com - 1 views
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sommohapatra on 02 Feb 15"President Obama will propose a 10-year budget on Monday that stabilizes the federal deficit but does not seek balance, instead focusing on policies to address income inequality as he adds nearly $6 trillion to the debt. The budget - $4 trillion for the 2016 fiscal year - would hit corporations that park profits overseas, raise taxes on the richest of the rich and increase the incomes of the middle class through new spending and tax credits. Mr. Obama will challenge the newly elected Republican Congress to answer his emphasis on wage stagnation, according to congressional aides briefed on the details." This article focuses on how President Obama is constructing a 10-year budget which will increase taxes on the richest, while increasing the income of the middle class through various methods. Although this budget has lots of support, it has sparked debate on whether it might widen the gap between the rich and everyone else.