75% of Obama's proposed tax hikes will go to NEW spending

[Fury]

75 Percent of Obama's Proposed Tax Hikes to Go Toward New Spending

Seventy-five percent of the new revenue pulled in by President Barack Obama's "fiscal cliff" plan would go toward new spending, not toward deficit reduction, the Republican side of the Senate Budget Committee contends. Here's a chart, detailing how money from the new tax hikes would be distributed:



According to the minority side of the Senate Budget Committee, $1.2 trillion of the proposed $1.6 trillion in tax hikes would go toward new spending, while only $400 billion would go toward deficit reduction.

"The [president's] plan called for $1.6 trillion in new taxes, twice what the president asked for in the campaign. He asked for $800 billion during the campaign. Now he wants $1.6 trillion in new taxes," said Senator Jeff Sessions, the ranking member on the Senate Budget Committee, last week on the floor.

"Spending under that plan would increase $1 trillion above the levels agreed to in the Budget Control Act, as signed into law. We agreed to the Budget Control Act 16 months ago, in August 2011, and we raised the debt ceiling and agreed to reduce spending. We raised the debt ceiling $2.1 trillion and agreed to reduce spending $2.1 trillion. The President's plan would take out over $1.1 trillion of those spending limitations that are in current law. I repeat, spending will increase more than $1 trillion above the already projected growth in spending," Sessions added.

"Our spending is growing. It is not decreasing. It is already projected to grow, but the President's proposal is to have it grow even faster than the law currently calls for."

http://www.weeklystandard.com/blogs/75-percent-obamas-proposed-tax-hikes-go-toward-new-spending_666067.html




Haha, and leftists will say, with a straight face nonetheless, that they're interested in reining in spending.

[whork]

Well its 400 billion more than the republican plan so they are more serious than their counterparts.

But lets be honest neither side really wants to cut spending.

The GOP loves the upperclass to much(therefore no significant tax cuts)

The DEM love the lover/middleclass to much(therefore no significant spending cuts)

Oh yeah and they BOTH love the military

[tonymctones]

Lol yea keep repeating tired old propaganda the reps hate the middle class, they are racists, homophobic, war mongering, sexist religious nut jobs right whork?

How old are you again?

The reps want to cut spending which had a much greater impact on debt reduction than tax hikes.

Tht 400 billion is is revenue increases which won't do shit for the debt reduction sorry boss the reps plan will be better for long term debt reduction more than likely

[Emmortal]

Despite what either side says the fact is we haven't had REAL spending cuts in nearly 3 decades.  All spending cuts are on proposed spending, not current spending.  So I'll believe it when I see it when one side says they want to cut spending.  They've been saying the same shit for almost 30 years and neither side has done anything about it and there has been ample opportunity to do so.

[tonymctones]

^^^
Agreed on that

We can't continue to feed the beast that is government. We need to cut the amount of spending down both current levels and future levels for entitlements as they are unattainable