Everybody SMILE! NYT - "Obama’s Budget Plan Sweeps Away Reagan Ideas"

[Pirate Smile]

Obama’s Budget Plan Sweeps Away Reagan Ideas

By DAVID LEONHARDT
Published: February 26, 2009

The budget that President Obama proposed on Thursday is nothing less than an attempt to end a three-decade era of economic policy dominated by the ideas of Ronald Reagan and his supporters.
The Obama budget — a bold, even radical departure from recent history, :toast: wrapped in bureaucratic formality and statistical tables — would sharply raise taxes on the rich, beyond where Bill Clinton had raised them. It would reduce taxes for everyone else, to a lower point than they were under either Mr. Clinton or George W. Bush. And it would lay the groundwork for sweeping changes in health care and education, among other areas.

More than anything else, the proposals seek to reverse the rapid increase in economic inequality over the last 30 years. They do so first by rewriting the tax code and, over the longer term, by trying to solve some big causes of the middle-class income slowdown, like high medical costs and slowing educational gains.
After Mr. Obama spent much of his first five weeks in office responding to the financial crisis, his budget effectively tried to reclaim momentum for the priorities on which he campaigned.

-snip-
He sought to eliminate some corporate subsidies, for health insurers, banks and agricultural companies, that economists have long criticized. He proposed putting a price on carbon, to slow global warming, and then refunding most of the revenue from that program through broad-based tax cuts. He called for roughly $100 billion a year in tax increases on the wealthy — mostly delayed until 2011, when the recession will presumably have ended — and $50 billion a year in net tax cuts for the nonwealthy.

-snip-
Before becoming Mr. Obama’s top economic adviser, Lawrence H. Summers liked to tell a hypothetical story to distill the trend. The increase in inequality, Mr. Summers would say, meant that each family in the bottom 80 percent of the income distribution was effectively sending a $10,000 check, every year, to the top 1 percent of earners.
Mr. Obama’s budget reflects that sensibility. Budget experts were still sorting through the details on Thursday, but it appeared that various tax cuts and credits aimed at the middle class and the poor would increase the take-home pay of the median household by roughly $800.



http://www.nytimes.com/2009/02/27/business/economy/27policy.html?_r=1&hp

:loveya: :patriot:

[Submariner]

1. Oh how I would love to be staring at Hannity or Limpballs

when they first read the headline in the NYT that says "Obama’s Budget Plan Sweeps Away Reagan Ideas"

I almost have an orgasm thinking about the pain they will feel when they see that. Exquisite!

[Jamastiene]

4. Their heads are going to explode when they see that.

:evilgrin:

[TankLV]

23. not to mention the liquid shits...

them running constantly to the toilet should bring smiles to all...!!!

can you say "stomack upset"?!!!!

[damonm]

28. But we already mentioned Slanthead & Limpballs...

Why be redundant?

[lunatica]

31. That sound we hear is sphincsters slamming shut

Musical isnt' it?

[Kaleko]

57. Now that you mention it -

yes, it has a certain je ne sais quoi.

:rofl:

[Patchuli]

58. "sphincsters?"

Heheheheeeeeeee!!!!! Didja mean 'sphincters?' Thanx for the laugh!! :rofl:

[avaistheone1]

60. Obama needs to roll back the Reagan tax cuts

Those Reagan tax cuts for the super wealthy were a key component contributing to the downward slide of the middle and working class in this country we are experiencing today.

[wryter2000]

41. I think you and I will have them simultaneously

I picked the wrong week to give up smoking. :evilgrin:

[Frank Booth]

2. Where's the change?1?

Oh, yeah.

Barack's got balls of steel.

[Cha]

46. Such a welcome

change!:bounce:

[Champion Jack]

3. KICKED for later

[PretzelWarrior]

5. WAHHOOOOOOO!!!! "Change....has come to America."

about dam time!!! This is SOOOO AWESOME. I'm finally done tearing up every time something like this occurs (his election announced on TV, his inauguration, his new policies, etc etc).

Wow. AND the Republans are in a circular firing squad.

[WinkyDink]

45. Change...AND more dollars for the Middle Class!

[Cha]

48. Not me..I'm not done yet.

I just read his speech to the military and all of us at Camp Lejeune, North Carolina:cry::)

[FrenchieCat]

6. I'm starting to like this Obama administration stuff.....

and its only been a bit more than a month!

Living on the pacific coast, everyday I wake up, and President Obama has already done a bunch of shit to reverse the 8 years of nightmare. These days, I'm starting to DVR the 6:00 a.m. to 9:00 a.m. MSNBC news program, otherwise, I've missed a bunch of him in actions while I sleep!

[poverlay]

39. I know what you mean. I sooo hope he continues on at this rate. If he does they're going to be

pulling anyone still claiming to be a repuke out of holes ala Saddam Hussein in four years!:woohoo:

[vaberella]

7. Does anyone have a clue where I can get a hard copy of the Budget Blueprint?! n/t

[FrenchieCat]

11. If you have a printer, you can print the PDF version

http://www.whitehouse.gov/omb/budget/

If not, you may have to write to the WH to request a copy, I'm guessing.

[Sherman A1]

12. I think it can be found at the GPO

I would check the website for the Gov't Printing Office. Don't know about costs and I expect it will not be available just yet.

Might also check through your congress folks..

[vaberella]

17. Thanks...I got Rangel and I work at his center.

Although I am far far far far removed from the congressman. I'll check it out and give them a call today.

[ReliantJ]

59. Did you get a hard copy?

[vaberella]

19. Thanks Frenchie, I'll do that. n/t

[AyanEva]

35. Nice!

They made it very easy to read through. I was afraid I'd have to go on a Ctrl+F hunt to read the stuff that I was interested in. No need, though. Divided by department!

[Frisbee]

52. Save your time...

PDF files are NOT searchable. Rush said so. :rofl:

[Baikonour]

8. The recession will be over by 2010.

And 2011 will be a year of growth.

If Obama manages to get control of this within 1 year, he will have had solidified his second term in 2012. There will be nothing the republicans can do at that point.

[Ikonoklast]

34. That is why they are desperate to derail it right now.

The numbers can be read by anyone, and I'm sure their own economic projections bode ill for the Republics past 2011.

[Undercurrent]

9. Thank you, Mr. President.

I never thought I'd see the day when the last of the Reagan era policies were finally tossed into history's dustbin where they belong.

It's a new day!

[Number23]

10. Happy to rec!

[democrattotheend]

13. It seems like now he's trying the "shoot for the moon" approach

He knows he won't get everything he wants in this budget, and the one that actually passes probably won't be as good as this. But he's starting out asking for everything this time, instead of preemptively conceding the way he did with the stimulus package. Hopefully this approach will work better, since Republicans have proven they are not interested in cooperating.

[northernlights]

14. upfront concessions and attempts to work with Rethugs

in the stimulus package laid the groundwork for this bill.

Holding out his hand repeatedly on the stimulus was smart, because it was a win-win for him (and by extension, for us). If the rethugs had met his hand with a handshake, he'd be seen as bringing the parties together to fix the mess the rethugs put us in. They chose, stupidly, to repeatedly bite his hand. They've shown themselves as the obstructionist, power-greedy, one-trick ponies that they are.

Now they can individually choose between staying in their circular firing squad, or "betraying their principles" and doing what is right for we the people. Good riddance, rethugs. Welcome to the real world, moderates. Because those are your 2 choices.

[TankLV]

24. and besides, ELECTIONS HAVE CONSEQUENCES!!!

Sorry repukes and media whores - but I repeat myself - the PEOPLE have given OBAMA a MANDATE to do this - sucks to be you - finally!!!

Another reason to SMILE all day long!!!

[damonm]

29. Thank you.

I've been saying this for WEEKS.

http://journals.democraticunderground.com/damonm/12

[DCofVA]

15. Yay!

:patriot:

[Odin2005]

16. Obama is impressing me more and more.

The Obama-haters are looking more stupid every passing day.

[ClarkUSA]

18. Now THIS is what living under a liberal/progressive President is like! Hope feels good.

[Laelth]

20. I want to see Reagan's massive FICA tax increase of 1983 disappear.

Is that in the budget too?

:shrug:

-Laelth

[southern_dem]

21. I wish the media

would point out that Reagan raised taxes every year except 1981. The GOP successful revised history and never has been called on it.

[damonm]

30. Every year?

I knew about the FICA, and the effective tax hike that was the "reform" act in 1986; could you point me to evidence of the others? I'd LOVE to rub this in some Freeper noses...

[southern_dem]

33. I got it from a column

written by a guy from the Reagan Treasury Department. Here's the link: http://www.forbes.com/2009/02/26/obama-budget-reagan-clinton-bush-opinions-columnists_higher_taxes.html

[damonm]

36. GREAT info! Thanks!

[florida08]

22. yay!!

Bringing fairness back to the middle class :fistbump: :applause:

[Politicub]

25. MMM mmmm More republican tears on which to feast

They taste like candy

:toast:

[and-justice-for-all]

26. Raygunomics = failure...

just like the rest of the repuke party.

[BlancheSplanchnik]

27. OH, Obama's miles above balls of steel---

he's got OVARIES OF BORON NITRIDE!!

:evilgrin:

[damonm]

32. Singing...(to the tune of "Maxwell's Silver Hammer")

"Bang, Bang
Obama's budget hammer
Came down 'pon the Gipper's head;
Bang, bang,
Obama's budget hammer
made sure Reaganomics was dead."

[rambler_american]

37. WOOT!

K&R
:kick:

[FailureToCommunicate]

38. Who remembers David Stockman, Reagan's budget hatchet man? He cut the $

to one of my early jobs that I really liked!

It's a new day!

[WinkyDink]

47. And then wrote a book exposing the Reagan $$ lies.

[wryter2000]

40. OMG

My salts, please. I'll be on the fainting couch.

:wow:

[Kurovski]

42. Yep.

K&R. Printing this one out. :)

[tledford]

43. Like Dubya's poppy said during the primaries in 1980...

...Raygun's economic policies were "voodoo economics." It would actually be funny if it hadn't fucked over 90% of the population for 28 years...

[Cha]

44. Bless their Recovery Plan

Hearts..one and all:loveya:

[wildeyed]

49. I read this article earlier today.

Been smiling and humming a happy tune ever since.

[ms liberty]

50. I like it. K&R n/t

[liberaltrucker]

51. Much as I hate to do it, I must paraphrase Limpballs

"Reagan is DEAD. His policies live on, but we're working on that."

Of course, Limpballs was referring to FDR. Feels quite good to turn
their own words against them!

:) :bounce: :fistbump:

[Pirate Smile]

53. Nice!

:fistbump:

[mvd]

54. K&R

The Era Of Reagan Government Is Over.

Had to say it.

[veganlush]

55. sweetest thing I've heard in a long time...

:toast: :fistbump:

[Reterr]

56. Oh Noes He is a Socialist

How Will America Survive?????????!!!!!

Seriously though, Obama is hitting all the right notes here :).