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White House’s OMB Seems to Remove All Doubt: Sub-$250,000 Tax Spree To Commence

Courtesy of Marla Singer

Not that this should surprise anyone at all, but it does seem to sound pretty official now. CNBC reports:

President Barack Obama’s deficit-reduction committee will consider all options to reduce the government’s ballooning deficit, including cutting spending in areas currently protected by the administration’s formal budget proposal, or raising taxes for those earning less than $250,000, Peter Orszag, director of the White House’s Office of Management and Budget, told CNBC Thursday.

 

“What the president was very clear about first was that [raising taxes] was not what we proposed, but that we have to let this commission do its work, and that everything’s on the table,” Orszag said. “All options need to be examined.”

 


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