President Obama's plan to pay for Porkulus II primarily with tax hikes on small business men and others making over $200 thousand a year is dead-on-arrival in a GOP controlled House. Actually, it was D.O.A. in a Democratically controlled Congress in 2009.
President Barack Obama is proposing a series of tax increases, mainly on the wealthy, to help cover the cost of a $447 billion economic stimulus proposal, budget chief Jack Lew said on Monday.
Lew said Obama's plan would raise $400 billion over 10 years by placing new limits on itemized deductions for individuals making more than $200,000 a year and families earning more than $250,000.
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