It has been stated over and over again that by increasing taxes on those making over $200,000 a year and couples over $250,000, it will generate $800 BILLION over TEN years. Throw in corporations and you have a tax increase of $1.6 trillion. Obama is spending at least $1plus TRILLION A YEAR and the Congressional Budget Office confirms that deficits would increase by $9 TRILLION over the same period.
"Boehner suggested that negotiations resume on terms discussed in 2011, when he offered to raise $800 billion over the next decade through a rewrite of the tax code. Senate Minority Leader Mitch McConnell (R-Ky.) endorsed that general idea Tuesday but warned Obama not to overplay his hand, noting that the president’s $1.6 trillion tax request failed to receive a single vote in Congress in the Spring." Source: Washington post
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