The only promise I've heard Obama make is to raise taxes on those making over $250,000 annually. After the last eight years, I think they can afford it.
Lets look at this in general terms assuming earnings are based on AGI.
Obama't tax plan is to increase the tax rate on those earning $250,000 or more by 3.6% which is $9,000. This group represents roughly 5% of the tax payers in America. The other 95% will see a decrease in their tax rate by an average of $1,000 a year(ICE CREAM).
Now lets apply this to a cross section of the population by using 1,000,000 people.
5% of 1,000,000 is 50,000 tax payers multiplied by $9,000 equals $450,000,000 into the Treasury.
95% of 1,000,000 is 950,000 tax payers multiplied by $1,000 equals $950,000,000 leaving the Treasury(on Ice Cream Trucks)
That is a difference of $500,000,000. How will he fund his programs and balance the budget when his plan starts out in the hole? The only way is to raise taxes on those making less than $250,000 annually. My guess is in order for him to do this he will need to increase taxes by 3% on those making $70,000 or more annually. Get your check books out folks.
On a positive note I am glad that just 40+ years removed from the Civil Rights Movement this county has elected a person of color the Office of President. I just wish it wasn't him.