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Will reform 'monstrous' tax code: Obama
WASHINGTON: President Barack Obama promised Americans his administration would reform the “monstrous” US tax system as millions faced the dreaded annual deadline on Wednesday for filing income tax returns.
Obama used Tax Day, a national ritual of public frustration due to the confusing tax code, to underscore his drive to cut taxes for many Americans while increasing spending to jolt the US out of its worst recession in decades.
Opposition Republicans seized the chance to rail against what they see as wasteful spending by his new Democratic administration, and some of Obama’s grass-roots critics staged “tea party” protests in several US cities.
Obama is pushing a $3.5 trillion budget plan that Republicans and some Democrats say carries too much deficit spending and too few tax cuts. Seeking to tap into public exasperation, Obama said: “We need to simplify a monstrous tax code that is far too complicated for most Americans to understand.”
http://timesofindia.indiatimes.com/World/US/Will_reform_monstrous_tax_code_Obama/articleshow/4412065.cms
.
.
Will reform 'monstrous' tax code: Obama
WASHINGTON: President Barack Obama promised Americans his administration would reform the “monstrous” US tax system as millions faced the dreaded annual deadline on Wednesday for filing income tax returns.
Obama used Tax Day, a national ritual of public frustration due to the confusing tax code, to underscore his drive to cut taxes for many Americans while increasing spending to jolt the US out of its worst recession in decades.
Opposition Republicans seized the chance to rail against what they see as wasteful spending by his new Democratic administration, and some of Obama’s grass-roots critics staged “tea party” protests in several US cities.
Obama is pushing a $3.5 trillion budget plan that Republicans and some Democrats say carries too much deficit spending and too few tax cuts. Seeking to tap into public exasperation, Obama said: “We need to simplify a monstrous tax code that is far too complicated for most Americans to understand.”
http://timesofindia.indiatimes.com/World/US/Will_reform_monstrous_tax_code_Obama/articleshow/4412065.cms
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