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Obama tax hikes may total $2.2 trillion

March 11, 2009 by  

Obama tax hikes may total more than two trillionThere has been no shortage of critical voices in response to President Obama’s new budget proposal, and one organization claims there may be more than a trillion dollar in hidden taxes.

According to Gassfire.org, an organizing center for activists for traditional and conservative values, the official level of new taxation at $1 trillion may overlook as much as $1.2 trillion due to items such as carbon tax being passed off as "climate revenues."

The organization has estimated that the $645 billion in carbon taxes pushes the total tax increases in President Obama’s budget to at least $1.64 trillion.

Referring to a recent speech by President Obama, Steve Elliott, president of Grassfire.org, said, "The president is right that a ‘day of reckoning’ is coming, but that reckoning will take the form of citizens who are fed up with politicians expanding the tentacles of government deeper and deeper into our lives and our pocketbooks."

On February 26, President Obama unveiled his budget proposal for Fiscal Year 2010 which predicts that government spending will reach 24.1 percent of GDP, financed by $5 trillion in new debt and $1.4 trillion in new taxes.
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