The White House put a photo of a mountain on the cover of its budget proposal to Congress to symbolize a mountain of
— Paul Ryan (@SpeakerRyan) February 9, 2016
The president’s budget is not so much a budget as it is a progressive manual—a series of far-left proposals that would drive our country further into debt, stifle wage growth and job creation, and raise taxes on millions of hardworking Americans. (Read: make big government even bigger.)
This may be why the White House put a photo of a mountain on the cover of the budget. We’ve started a Twitter poll to see what that mountain may represent. By the numbers, here are your choices:
1. Debt. This budget, like the seven proposed by the president before it, never balances. Not in five years, or 10 years, or 25 years—never. No amount of tax hikes—and there would be quite a few under this plan—would be able to pay for all the new spending. Every year of this budget shows a deficit. As for our national debt, it would rise to $27.4 trillion, more than double compared to when President Obama took office.
2. Taxes. The president’s budget buries individuals and small businesses with an increase of $3.4 trillion in taxes over 10 years. This includes the president’s $10.25 tax on every barrel of American oil, which would raise gas prices an average of 24 cents per gallon. The budget also contains a massive small business tax hike—increasing the top rate on active small business income from 39.6 to 43.4 percent. By comparison, as Speaker Ryan has noted, the top tax rate on successful small businesses in Canada is 15 percent.
3. Spending. The president wants to take all that money from hardworking Americans to pay for his agenda, and his debt. All told, spending will rise by $2.5 trillion as the interest we owe grows to $787 billion.
All of the above. As POLITICO explains, this budget represents a “sweeping progressive policy agenda,” which the president’s former budget director, Peter Orszag says, “lays the groundwork for Democrats to refine and embrace a more ambitious legislative agenda over time.”