After four years of extensive study and deliberation, the Democratic Senate Budget Committee Chairman, Patty Murray, announced last week that every single item in the federal budget is absolutely necessary and actually needs to be increased. Although Chairman Murray agrees with President Obama that the national debt is not a problem, she still believes it would be prudent to raise taxes which is why her new budget includes over one trillion dollars of tax increases. Chairman Murray repeated statements made by President Obama that the tax increase will only fall on the wealthy top 1% of the population.
On a related note, The New York Times reported today that, after four years with President Obama in office and with Democratic stewardship in regards to the economy, the top 1% of the population is now estimated to be anyone making over $23,217 per year.
©Obamabeans 03/18/2013