Early word’s in on just how Obama plans to pay for the Sorta Big Jobs Plan proposed the other night, which has much for the reasonable to like, I think. Among the money-raisers:
— A limit on itemized deductions and certain exemptions on individuals who earn over $200,000 and families who earn over $250,000, which would raise roughly $400 billion over 10 years.
— A proposal to treat carried interest earned by investment fund managers as ordinary income rather than taxing it at capital gains rates, which would raise $18 billion.
— Eliminating certain oil and gas industry tax breaks that would raise $40 billion.
— A change in corporate jet depreciation rules that would raise $3 billion.
Perfect he ain’t, but as I noted earlier, the Absolutely-No-Revenue-Increases-Ever Again-in-the-Universe Repubs have failed the common sense test. And now that the O Man has come out of his helpless-pinata mode of the summer, I’m. . .I’m. . . well, I’m feeling like these famous Italian tough guys. Can’t seem to give up on the guy!