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Thursday, February 26, 2009

The War On Wealth

Items of Interest:

New York Times:
To Pay for Health Care, Obama Looks to Taxes on Affluent – President Obama will propose further tax increases on the affluent to help pay for his promise to make health care more accessible and affordable, calling for stricter limits on the benefits of itemized deductions taken by the wealthiest households, administration officials said Wednesday...

discussion:
Michelle Caruso-Cabrera / CNBC: Op-Ed: War on Wealthy Will Cost Us All
David Rogers / The Politico: Promises, risks in new spending plan
Ceci Connolly / Washington Post: Obama Proposes $634 Billion Fund For Health Care
Martin Crutsinger / Associated Press: Official: Obama budget sees $1.75 trillion deficit
Hugh Bartling / Cafe Talk Aggregator: More Details Emerging on Obama's Cap-and-Trade Position
Caitlin Taylor / The Note: The Note, 2/26/09: Taxing Tasks …
David Leonhardt / Economix: A Primer on Health Costs
Tas / Comments from Left Field: Carrying GOP water?
Robert Stein / Connecting.the.Dots: Radical Surgery for Health Care
Economist.com l WASHINGTON / Democracy in America: How they'll do health care — THE economic crisis has changed …
Reliapundit / THE ASTUTE BLOGGERS: HE REALLY IS A SOCIALIST, JUST LIKE WE SAID …
Laura Meckler / Wall Street Journal: $318 Billion Tax Hit Proposed
Henry J. Pulizzi / Wall Street Journal:
Budget Deficit to Hit $1.75 Trillion -- President Barack Obama delivered Congress a $3.6 trillion budget blueprint Thursday that hopes to "break from a troubled past" with a sharp shift toward expanded government activism, tax increases on affluent families and businesses, and spending cuts targeted at those he says profited from "an era of profound irresponsibility."

The budget blueprint for fiscal year 2010 is one of the most ambitious policy prescriptions in decades, a reordering of the federal government to provide national health care, shift the energy economy away from oil and gas, and boost the federal commitment to education...
discussion:
Krooney / TIME.com: Breaking Down the Budget
Michael Falcone / The Caucus: The Early Word: Budget Blueprint
Lori Montgomery / Washington Post:
In President's Budget Plan, Broad Agenda and a Few Gaps
discussion:
----
New York Times:
Obama Budget Sees $1.75 Trillion Deficit — President Obama's budget proposal for 2010 projects a stunning deficit of $1.75 trillion for the current fiscal year, which began five months ago, reflecting a shortfall of more than $1 trillion as the fiscal year began, plus the costs of bank bailouts …
----
An NBA Bailout in the Works!

AP / ESPN:
Report: NBA plans to borrow money -- SportsBusiness Journal reports the NBA plans to borrow $175 million to distribute to teams in need of additional cash.

The deal comes at a time when leagues are laying off staffs and cutting ticket prices. It will allow the NBA to distribute up to $11.66 million to 15 teams that responded to a league survey gauging interest in the money, SportsBusiness Journal said.

The report says the league plans to borrow the money Thursday...
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