President’s plan: $1 trillion in new taxes

As a result, instead of $1.2 trillion in spending cuts called for by the sequester over the next decade, Obama would add more than $1 trillion in revenues, while cutting outlays only about $600 billion. And much of those aren’t real cuts, but tiny reductions in projected spending growth over the next decade.

Read More At IBD: Obama’s Sequester Math: $300 Billion In New Revenues Called ‘Spending Cuts’ – Investors.com http://news.investors.com/ibd-editorials/022813-646267-obama-labels-new-revenues-as-spending-cuts.htm#ixzz2MIjYjJhh

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