Wednesday, March 04, 2009

My Way News - Obama's plan to hike taxes meets fierce opposition

WASHINGTON (AP) - President Barack Obama's call to raise taxes on high earners and greenhouse gas polluters met fierce opposition Tuesday from congressional Republicans and also a few Democrats. "I would never want to adversely affect anything that is charitable or good," Rep. Charles Rangel, D-N.Y., chairman of the tax-writing House Ways and Means Committee, said of Obama's call to limit high-income taxpayers' itemized deductions for charitable donations and mortgage interest.

Republicans said the president's plan to charge fees to industries that spew greenhouse gases amounts to a stealthy tax increase for all Americans that will far exceed the new $400 annual tax cut for workers that he wants to extend beyond 2010.

My Way News - Obama's plan to hike taxes meets fierce opposition

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