I’ve been reading a lot about Obama’s budget for 2016. The more I read about it, the more I like it. It does many things to help build a recovery for the poor and middle classes, not just the 1%. It pays for these measures by taxing the 1% to return just a tiny bit of our wealth that Republicans have fed them over the years. Best of all, it does many of the things Republicans say they want to do, as they attempt to fool voters.
President Obama’s fiscal 2016 budget, released on Monday, pulls together the themes and policies set forth in his State of the Union address and other recent speeches and gives them a force and coherence — an ambitiousness — that a more piecemeal delivery does not convey.
As a practical matter, the budget details what Mr. Obama believes needs to be done to help ensure a more prosperous and inclusive future for ordinary Americans, including greater contributions from corporate America and from those atop the wealth ladder. Politically, it seeks to frame the terms of the debate for the 2016 presidential election season. If Republicans simply reject those terms — if they can’t discuss the ideas and act on them — they may find themselves, deservedly, struggling for a response.
The core of the president’s 2016 budget is a plan to boost the middle class by helping low- and middle-income earners pay for education, child care, job training and other needs, and by vastly expanding investment in the nation’s infrastructure. These initiatives would be paid for, in the main, by nearly $1 trillion in tax increases that would fall on the wealthy and large financial institutions over the next decade.
The new taxes, however, are also carefully crafted to spur economic growth more broadly. A proposed higher rate on capital gains, for example, would discourage rampant and inefficient tax sheltering, while encouraging investors to deploy the capital in ways that are more economically productive. Ditto the financial tax that is structured to discourage speculative activities at banks that endanger the economy, as well as taxpayers… [emphasis added]
Inserted from <NY Times>
Click through, please. It’s worth the read.
I do not seriously think that this budget will pass. In fact Republican officials from across the spectrum agree that it’s DOA. But it sets the stage for a Democratic victory in 2016, as voters watch Republicans reject things they claim they are for to protect a handful of billionaires.
Ed Schultz provides some excellent coverage. The embed button for MSNBC is working again.
I love it, except for the overdose of exceptionalism from the California Democrat.
We call Obama out on what he does wrong. Lets offer kudos for doing this right.
21 Responses to “A Progressive Budget”
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I agree that with this budget he has definitely done something right and deserves praise and thanks. In fact, I just told the DSCC that Democrats' top priority in February should be to advocate for President Obama's budget. Anyone who wishes can say so at https://www.dscc.org/webform/february-priorities-survey There are three other questions also.
Survey taken and submiited. Thanks, Joanne
I took the survey and submitted it also. It might be the second time but that's okay.
On that survey, the DCCC knows damn well that they need to prioritize every item. The purpose od that poll is ti get an email address where that can spam you for money 150 times a week, until election seasomn, when they triple it.
You have a point – but there are still more than enough Blue Dogs who DON'T know, or pretend they don't know, and need to have it hammered into them with polling. Emails – I put up with a lot before the election, and have now really cut that down by unsubscribing.
Yeah, but you just have to scroll down and do the "Email Opt Out" at the bottom.
With the DCCC, "unsubscribe" or "opt-out" means triple the SPAM. I just enter nospam @ nunyabusiness.com
Ny Times: The last paragraph of the article states that the budget will not be passed in whole or possibly in part, but is a strong discussion draft. I agree. If the Republicans don't pass at least part of it they are showing their constituents what they truly are, and hopefully, those people will be bright enough not to vote for them again.
Ed Schultz: The phrase, "envy economics" makes my blood boil. I have heard that from some of my Republican friends, who are not wealthy, by the way. It is not envy to want to be paid a living wage or to expect the wealthy to pay their fair share of taxes. I have said this before, my 85 year old mother, who lives on Social Security and a small pension pays a higher tax rate than Mitt Romney. There is not justice in this. It is not envy, it is expecting your government to do what is right instead of what their corporate masters tell them to do.
Paul Ryan: Eat your heart out! lol,
"The president’s budget will not be enacted in whole, and perhaps not even in part. But enactment is not the only measure of its success. The budget is a strong discussion draft, detailed in its particulars, unassailable in its aims and a powerful challenge to the Republicans."
If Republicanus/Teabaggers refuse to pass any part of this budget, or refuse to discuss it in a meaningful way, I think they will feel some heat, especially as the 2016 elections get closer. They won't like it because of the new taxes etc and they just may die trying to defend their vision.
BTW, on another segment of the Ed Show, word is in that the House voted for the 67th time to repeal the ACA again — 161 to 126 — and the Senate is expected to follow suit. Mr Obama, get that veto pen filled and ready! Ed really did have a good segment.
With the budget and this newest vote to repeal the ACA, Republicanus/Teabaggers have a lot to answer for, but they'll try dancing first.
Democrats will likely filibuster it in the Senate.
I call it a "California fool's gold dream". But Obama stills stands for what he stood for in 2008 and now he has the change to show the American people one more time what it means to stand with the Democrat party. While the republian/tea party play the fools,act the fools are the fools the American people only see the color and shame of the last 2014 election. And so the race no matter how they try to hide willl never be nothing more than fools.
How do you get multi-millionaires in Congress to buck Grover Norquist and raise taxes on themselves? Pres. Obama is in for quite the fight. As Paul Ryan, Chair of the House Ways and Means Committee told FAUX NOISE Congress is "not going to raise taxes". I just hope the Dems stand strong this time.
I know many of you don't watch Meet the Press anymore. I do just to find out how bad these people in D.C. are trying to screw us. You should read this to see how Paul Ryan is blaming Pres. Obama for "trickle down economics" and Chuckie let him get away with it. http://www.politicususa.com/2015/02/01/chuck-todd-lets-paul-ryan-lie-president-obamas-economic-record-meet-press.html
Patty Great post. I DVR the Meet the Press when Chuck took over but I am not sure if the power he has just made him look like a fool? To make his show look like a fox news show is foolish. His ratings in my book has left the building.(in other words Meet the press can not hold a candle to "This week"
I agree, mama.
Kudos!
TY TC!
Thanks all!
Could become the blueprint for the party's platform in 2016, with a tad less to the Pentagon.
Great Budget → Scrap the Cap on Wealthy contributions to Social Security. 😆