'Already Broken His Promise' - Associated Press Nails Obama on Tax Pledge
From Yahoo News:
PROMISES, PROMISES: Obama tax pledge unrealistic
WASHINGTON – President Barack Obama promised to fix health care and trim the federal budget deficit, all without raising taxes on anyone but the wealthiest Americans. It's a promise he's already broken and will likely have to break again. Obama and the Democratic-controlled Congress have already increased tobacco taxes — which disproportionately hit the poor — to pay for extending health coverage to 4 million children in working low-income families.
Now, lawmakers are looking for more revenues to help pay for providing medical insurance to millions more who lack it at a projected cost of $1 trillion over the next decade.
The floated proposals include increasing taxes on alcohol, which could raise $62 billion over the next decade, and a new tax on sugary drinks such as soda, which could raise $52 billion.
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