"CHART: Obama Economic Plan Raises Less Revenue Than Plans Conservatives Support"
When President Obama released his economic plan this month, conservatives immediately assailed it for including tax increases. “If we’re just going to do class warfare and get tax increases out of this, then I don’t think much will come of it,” said House Budget Committee Chairman Paul Ryan (R-WI). The press, meanwhile, described Obama’s plan as “[giving] his liberal critics exactly what they wanted,” and “a direct appeal to his often-disgruntled base.” However, as Center for American Progress Director of Tax and Budget Policy Michael Linden noted, Obama’s plan actually raises less revenue than many plans that conservatives say they support:
As Linden noted, the Bowles-Simpson fiscal commission’s report, the Gang Of Six’s deficit reduction plan, and Bipartisan Policy Center’s plan all “share some common elements“: “They all received significant support either from current or former Republican members of Congress, and they all rely on more revenue than does the president’s plan.”