Politics

Obama’s Record Budget: Tax the Rich, Help Middle Class

Published

11 years ago

February 3, 2015

ANDREW TAYLOR, Associated Press

WASHINGTON (AP) — Promising to help America’s middle class, President Barack Obama on Monday sent Congress a record $4 trillion budget that would hammer corporate profits overseas and raise taxes on the wealthy while boosting tax credits for families and the working poor.

Obama’s budget also would steer hundreds of billions of dollars to the nation’s crumbling infrastructure of roads and bridges, help provide two years of free community college and reverse the across-the-board, automatic budget cuts that have slammed the Pentagon and nearly every government department.

In the face of certain opposition from Republicans, an optimistic Obama hailed a “breakthrough year for America” of new jobs, lower unemployment and shrinking deficits after the great recession of 2008, and he called for moving past years of “mindless austerity.” The blueprint for the 2016 budget year that begins Oct. 1 represents a 6.4 percent increase over estimated spending this year, projecting that the deficit will decline to $474 billion.

However, Obama’s plan ignores the new balance of power in Washington, with Republicans running both the House and Senate. The GOP found plenty to criticize in his proposed tax hikes that would total about $1.5 trillion.

Republicans cited the nation’s $18 trillion debt and assailed what they call Obama’s tax-and-spend policies for failing to address the spiraling growth of benefit programs such as Social Security and Medicare.

“Today President Obama laid out a plan for more taxes, more spending, and more of the Washington gridlock that has failed middle class families,” said House Speaker John Boehner, R-Ohio. “This plan never balances — ever.”

Republicans aren’t offering specifics yet but will respond this spring with their own plan, a balanced-budget outline promising to get rid of “Obamacare,” ease the burdens of the national debt on future generations, curb the explosive growth of expensive benefit programs and reform a loophole-cluttered tax code in hopes of promoting economic growth.

While Obama’s plan was rejected out of hand on budget day, proposals to ease automatic cuts and boost transportation funding are likely to return later in the year and require extensive negotiation.

“These proposals are practical, not partisan,” Obama said of his overall plans. “They’ll help working families feel more secure with paychecks that go further, help American workers upgrade their skills so they can compete for higher-paying jobs, and help create the conditions for our businesses to keep generating good new jobs for our workers to fill.”

Some people would pay more. Many wealthy Americans would only be able to take tax deductions at a 28 percent rate even though their incomes were taxed at 39.6 percent, and some would also see an increase in their maximum capital gains rate.

However, a couple earning up to $120,000 a year would qualify for a new “second earner” tax credit of up to $500 as well as a maximum $3,000 per-child tax credit for child care for up to two children, triple the current credit of $1,000.

Obama’s initiatives to tax the wealthy and to welcome an influx of immigrants into the United States are going nowhere in the new GOP-run Congress.

But there is a bipartisan desire to ease automatic spending cuts that are the product of Washington’s failures to cut deficits beyond an initial round in 2011. Both Republicans and Democrats are howling that such broad cuts savage the Pentagon. Obama said he won’t give more money to the Pentagon without receiving domestic funds he wants.

“It would be bad for our security and bad for our growth,” Obama said Monday at the Department of Homeland Security.

The centerpiece of the president’s tax plan is an increase in the capital gains rate on couples making more than $500,000 per year. The rate would climb from 24.2 percent to the Reagan-era top rate of 28 percent. Obama also wants to require estates to pay capital gains taxes that reflect the increase in value of assets like homes and stocks prior to death instead of after inheritance. And he is trying to impose a 0.07 percent fee on the roughly 100 U.S. financial companies with assets of more than $50 billion, raising $112 billion over 10 years.

All told, Obama proposes higher receipts of about $2 trillion though his budget: about $1.5 trillion from tax increases and almost $500 billion from fresh revenue as immigration reform lifts the economy and provides new workers.

His proposals would boost federal spending by $74 billion — divided between the military and domestic programs — and would result in a spending increase of $362 billion over the remaining six years the spending caps were to have been in place.

The deficit would remain under $500 billion a year through 2018, but would rise to $687 billion by 2025, according to administration projections — though levels of red ink could still be considered manageable when measured against the size of the economy.

But the cost of financing the government’s debt would spiral as the debt grows to more than $25 trillion by 2025 and interest rates rise. According to the projections. Interest costs would jump from $229 billion this year to $785 billion in 2025.

A principal theme this year is infrastructure — the budget books’ cover photo is the deteriorating Tappan Zee bridge over the Hudson River — and the plan includes a six-year, $478 billion transportation and infrastructure plan. Gasoline tax revenues would cover only half the cost, so Obama proposes a 14 percent tax on overseas corporate profits to bring in $238 billion. The combination would permit about a one-third increase in spending, with transit programs being the biggest winners.

Obama’s plan contains a lengthy roster of proposals that have been repeatedly rejected by lawmakers: $600 billion in additional revenue over a decade by limiting tax deductions for upper bracket earners; $95 billion from nearly doubling the cigarette tax to $1.95 a pack, and $35 billion through a minimum 30 percent tax rate on million-dollar incomes.

He wants to increase the security fee paid on air travel from $5.60 to $7.50 per one-way ticket. And there’s a new 10-year, $2.5 billion proposal to limit the deductibility of gifts that boosters of college teams give to earn the right to buy basketball and football tickets.

The White House claims $1.8 trillion in deficit savings over 10 years but does so by taking liberties such as ignoring the cost of preventing Medicare cuts to doctors’ fees and extending refundable tax credits for the working poor and couples with children that expire in 2017.

___

Associated Press writers Martin Crutsinger and Jim Kuhnhenn contributed to this report.

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Oakland Post: Week of July 1 – 7, 2026

The printed Weekly Edition of the Oakland Post: Week of July 1 – 7, 2026

Published

4 days ago

July 5, 2026

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

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NPRC Joins National Grand Jury Proceedings Seeking Accountability, Constitutional Restoration

Organizers state that testimony will explore historical and political developments that they believe have contributed to the expansion of corporate influence over public institutions and governmental decision-making. Participants are expected to discuss concerns regarding constitutional governance, individual liberties, property rights, and the protection of vulnerable populations, including seniors and persons with disabilities.

Published

2 weeks ago

June 26, 2026

Oakland Post

Photo by Billie Powers.

Special to The Post

The National Probate Reform Coalition (NPRC) has joined Toll and Roll and a growing coalition of advocacy organizations, victims, whistleblowers, and citizen groups in support of a nationally broadcast People’s Grand Jury proceeding scheduled for July 1 and July 7.

Organizers describe the event as a public forum designed to examine allegations of government abuse, judicial misconduct, legislative failures, and the erosion of constitutional protections affecting millions of Americans.

The proceedings will feature testimony from victims, families, advocates, and organizations from across the country who contend they have experienced harm through government actions, institutional neglect, and failures of oversight.

According to organizers, the People’s Grand Jury will focus on concerns involving probate courts, guardianships, conservatorships, child welfare systems, property rights, civil liberties, and what participants view as a growing disconnect between government institutions and the constitutional rights of the people they are sworn to serve.

NPRC is participating because many of the issues being examined mirror the concerns raised by advocates, victims, and families who have participated in its monthly town halls. For years, families have reported cases involving exploitation of elders, questionable guardianships, estate depletion, denial of due process, and a lack of meaningful oversight within probate court systems.

“This proceeding gives victims and advocates an opportunity to place their experiences on the public record,” said Tanya Dennis, lead facilitator of NPRC. “For too long, families have struggled to have their voices heard regarding elder abuse, probate exploitation, and government inaction. This forum allows those stories to be shared before a national audience.”

In keeping with principles of transparency and fairness, invitations have been extended to legislators, members of the judiciary, law enforcement representatives, and other public officials who may wish to respond to concerns raised during the proceedings or defend actions taken by their respective institutions.

One of the primary outcomes sought by organizers is public consideration and support for the People’s Remedy and Restoration Act, a proposed legislative framework that advocates believe would strengthen oversight, increase accountability, provide remedies for victims of governmental abuse, and restore constitutional protections.

The proceedings are expected to be broadcast nationally, providing citizens throughout the United States an opportunity to observe testimony, review evidence presented, and participate in an ongoing conversation regarding government accountability and the protection of individual rights.

Advocates hope the hearings will encourage meaningful dialogue, legislative reform, and renewed public engagement in the democratic process.

Individuals, organizations, public officials, and members of the media interested in attending or obtaining access information may contact the organizers at tollandroll2025@gmail.com.

As Americans continue to debate the future of constitutional governance, judicial accountability, and the protection of vulnerable citizens, the July proceedings are expected to serve as a significant forum for public testimony and civic engagement. For more information, go to https://tollandroll.com

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Local Civil Rights Attorney, Activist Walter Riley Reveals Life Lessons from 70 Years in the Movement

Widely known in Oakland for his unifying leadership on issues of social justice and human rights, Riley is also recognized for his famous son, Raymond “Boots” Riley, a rap artist, political activist, and successful filmmaker, whose latest film, “I Love Boosters,” is now in theaters and capturing national attention.

Published

2 weeks ago

June 26, 2026

Oakland Post

Walter Riley. Courtesy photo.

By Ken Epstein

Prominent civil rights attorney and activist Walter Riley recently went on radio station KPFA 94.1 to discuss his new book co-authored with local veteran organizer Jesse Strauss: “Civil Rights and Structural Attacks: Conversations with Walter Riley.”

Born in North Carolina, Riley has lived in San Francisco, Chicago, and Detroit, but his longtime home is Oakland, California.

Over the years, he was a leader in the South against Jim Crow, participated as a student in the historic 1968 San Francisco State University strike that created Black Studies and Ethnic Studies in the U.S. and scored victories in the fight for open college admissions.

He was also a labor organizer and was involved in early Black Panther Party formations, anti-war protests, and was a leader of the Progressive Labor Party, a pro-Mao, Marxist Leninist party.

In an interview on KPFA’s “Upfront” with host Brian Edwards-Tiekert on June 18, he discussed some of his formative experiences, born in 1944 to a family of sharecroppers who worked on a tobacco farm near Durham, North Carolina.

“I came from a farming family, the ninth child of 11 children,” Riley said. “My mom and dad got married as teenagers, and they were together for their entire lives. Growing up in this large family, we had to deal with various aspects of what it meant to live in an economically depressed area with parents who had come through what they called “Hoover times” (the Great Depression) in the South.

“They were proud of every one of their children when they took some stand, to develop and show some sense of dignity,” he said.

In his neighborhood, slavery was not a distant memory. There are many people “who knew firsthand what it was to have family members that had lived as enslaved people and lived in communities where enslaved people had lived.

“(Under tenant farming), the landowner negotiated for the entire family: the farmer, the wife, the children – everybody was involved on the farm. Kids were often engaged. We had to shovel, hoe tobacco to keep the weeds from taking over, to make sure that tobacco worms didn’t eat up the tobacco. If a child was old enough to plow, they would walk behind a horse or mule and plow a field, working from sunup to sundown,” he said.

The houses did not have indoor bathrooms, running water or electricity. “A lot of the names in the Black community were the same names as these slave owners. We could see the names of folks on the streets, street names of people who had enslaved people, and they were symbols to me of a world that did not see me as a human being, that has not treated my ancestors as humans, has treated us as chattel to be sold, to be owned, to be property,” Riley said

“When we were counted by our government, we were counted only for the purposes of allowing white people, white men, to have a vote.”

By 1950, when he was 6 years old, his family moved to another house, leaving tenant farming. His father took a job in construction.

“My parents wanted the younger kids to have education,” he continued. “The older kids had to work on the farms. By the time I came along, I was the second child born in a hospital. “My parents looked forward to younger kids to have more sense of independence from the economic and social depravities that they saw around them.”

Watching television, he became aware of the suffering under Jim Crow, including the lynching in Mississippi of Emmett Till in 1955 and Mack Parker in 1959.

When he was 13, he joined a picket line in town in front of a variety store chain that did not hire Black people and became active in the Civil Rights Movement. By time he was in high school, he had become a leader in the local chapter of the NAACP and met Malcolm X and later Medgar Evers, leaders who were both assassinated.

Married and with a child, he moved with his family in the early 1960s to San Francisco, attending San Francisco State University while working full time.

He participated in the San Francisco State University strike, the longest student strike in U.S. history, where students and their supporters prevailed in the face of mass arrests and daily violent police attacks.

While many people remember the strike for its historic victory – the creation of the first Black Studies and Ethnic Studies programs in the country. “But open admissions was the thing,” he said. “Open admissions had to do with people being able to go to school for free. People should be able to go to school just because they come here and say, ‘I want to go to school. I want an education’ (because) we live in a rich country.”

Studying Marxism, including dialectical materialism, he gradually began to understand structure of the system that needs to be changed, he said. “It requires a lot of study, and it still does.”