Monday, September 19, 2011

President's Deficit Plan: $1.5 Trillion in Taxes & Fees

"It's not just millionaires who'd pay more under President Barack Obama's latest plan to combat the deficit," reports the Associated Press. Airline passengers, for example, would see federal fees doubled to $10 per trip, tripled to $15 by 2017. And new mortgage applicants would pay an additional fee—averaging $15 per month for the life of the mortgage—for the care and feeding of Fannie Mae and Freddie Mac.

One AP reader summed the plan up well: "So millionaires will be taxed, the rest of us will just pay fees."

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